In business, people adopt different types of marketing moves in order to enable their business to succeed. Some do well, some fail miserably. They fail because primarily they have not thought through the marketing strategy that they plan to adopt.
Of all the strategies you think of, you need to select the one most appropriate for your business so that you can reach your goal. But quite often, you may decide on a marketing strategy that causes your business to flounder – these are the ones you should guard against.
So what are the marketing strategies that usually let you down?
Spread yourself thin
Many marketers believe that it makes sense to spread yourself thin and try to reach the total population / every possible person in the hope that a small proportion may buy your product/service. However, this may end up with you spending a lot more on marketing your ware than you get back as revenue.
You are contacting a huge number without knowing if they are the right target for what you are selling. Most of those you contact do not know you so they will not trust you enough to become your customer. Hence this is not a wise marketing strategy to adopt. You need to first identify your target customer, – the one who wants your product/service – and then design your marketing strategy to capture his/her attention.
Word-of-mouth as a communication strategy does not work all the time. This is primarily because you expect your friends and family to respond positively to your business offerings and spread the word so that more and more people get interested in your product/service. The truth is that no one has the time or interest to push another’s business, especially if it not in sync with their ideas and interests. It does not mean that they don’t care for you. Your ideas don’t resonate with theirs so they don’t actively promote your stuff.
The key to this issue is to identify who are likely to be in sync with your ideas and products, who are likely to talk about your product and who are experienced enough to spread the world. You need to get professional about promoting your product/service – depending on the family network does not help.
Depending on Facebook ads does not seem the best way to communicate your marketing message to your target audience. They work at times for some products/services but by and large it is best to steer clear of Facebook ads. It takes a long time to actually understand how these ads work in terms of reach and rate of return. By the time you do, you may have lost money and time. Thus the thing to do here is to optimize social media and keep contact with all your potential customers so that they keep you in mind when it is time for them to purchase. Adopt all the free channels of communication on the internet to begin with and then proceed to other paid channels if and when necessary.