Effective marketing strategies is not something that can be left to chance. Marketing is an uncertain science, which requires a rigorous analysis and a precise knowledge of the product or service you are marketing.
Most marketing strategies fail before being exposed to potential customers. For this reason, you will have the deadly mistakes most entrepreneurs make when designing effective marketing strategies. Bellow there is a guide to avoid making the mistakes that can take you into the abyss of frustration and failure.
Entrepreneurial Mistakes Regarding Online Marketing
Mistake 1: Thinking that the design and implementation of marketing strategies for your business is a waste of time and money.
Marketing is well known in the world of business as the engine and backbone of any business. Its only function is to attract money from your prospects and have a fair share of your customers’ wallet.
For this reason, the time you devote to your marketing strategies must be equal, or greater, than the time spent creating your product or service.
Never forget that your success or failure results from your marketing strategies, and not the product or service you are offering. So fall in love with your marketing strategies and not your product. Because marketing strategies are those that make your product or service a success or a complete failure.
Mistake 2: Not knowing the value of a new customer.
Your customers are the most important asset of your business and if you dont know the value of a new customer, it will be impossible to make good decisions.
A marketing strategy costs money, and to be effective you have to know how much every prospect is costing you, how many of them buy first time , how many are repeat customers, and so on and so forth.
Therefore, before investing large sums of money on your marketing strategy, you must determine the lifetime value of each client, and thus will have a method of assessing your results.
Mistake 3: Not having a list of customers
Most entrepreneurs do not know who their customers are, and therefore are losing a lot of money. You should never commit this mistake! Your most valuable asset is not the different tools that you have to create your product or service.
Your success depends on your customers, and for this reason you need to create a customer list with your clients, in order to establish a relationship of trust and confidence.
Mistake 4: Problems communicating with customers.
One of the main online marketing Entrepreneurial Mistakes is not having regular communication with your customers. When you have constant communication with your customers, your result will be an increase in sales. Most importantly, keep in touch with your customers at least once every 15 days. Your clients want to meet you, hear from you often, and not only of the products or services you are offering.
Mistake 5: Do not have a method to accurately measure the results of your marketing strategies and your advertising investments.
A good way is to find a straight answer in each promotion. This can be achieved when you give away your customer valuable information that pre-sells your product, you put a code that allows you measure promotion and sales. This way, you have a method of measuring response to your marketing strategies.
Mistake 6: Have success and think you are invincible.
Many online entrepreneurs have been fortunate to enjoy the success of your marketing strategies since its inception. And when this happens, they make the mistake of neglecting their customers and their marketing campaigns, to realise after a short time that lasting success is proportional to the constant work.
The recipe to avoid falling into this trap is to think big, but act as a small business. Never forget that good management of large employers who are highly successful comes from running on small businesses.
Mistake 7: Not having complementary offerings after you main offers.
If you have nothing more to offer to your customers, you’ll miss the opportunity to make more money with your business. If this is your first product or service, do not worry. The most important thing when starting a business is to get noticed.
But remember, it’s always easier to sell to a customer who has already bought from you, that converting a prospect that has never purchased. Customer retention is therefore the main key for the success of any business, and to ensure the long-term commitment and loyalty of your customers.
These were the 7 deadly mistakes online marketing that most entrepreneurs make. As you can tell most of them committed in the mismanagement that you have with your customer list. Fall in love with your marketing strategies, and value each of your customers. These two will help you on your way to success in the internet business.