Marketig - The Fuel That Runs A Business

Marketing Mistakes You Must Avoid

Many marketers, especially new internet would-be entrepreneurs latch on to the idea of an internet business because of the ridiculous hype spewing forth from the online marketing community. Much has already been written about the unrealistic claims by internet marketers peddling their offers to the unwary, and I'm not going to bore you with repeat warnings.

Let's look at more savvy newbies who realize the importance of planned marketing before they see their first dollar. These netrepreneurs are familiar with the usual marketing strategies like traffic exchange, article marketing, paid classifieds and link building.

But marketing is, unfortunately, not set-and-forget activity. It has to be constantly tuned to react to changing marketing conditions and buyer preference and expectations.

Have your sales slumped? Are you getting no traffic, or, worse yet, enough traffic but no conversions. Or are you facing problems establishing your new business, product or service in the marketplace?

Marketing challenges need to be addressed by businesses of all sizes, but are particularly acute for new businesses or marketers who may not know how to market themselves effectively to get the results they want.

What can you do if you find you are at a loss on how to promote your business or if your marketing efforts seems as impactful as a single drop of water in the Pacific.

*Have a Marketing Plan.
What exactly is that? It's a map, a chartered course, a flight plan, an action chart. It is a crucial first step for every successful business. However, coming up with a correct marketing plan needs careful consideration of many factors and is not an easy task for the inexperienced.

*Advertise
Free is good, and there are many free traffic exchanges and such services available. But the good is only in the word 'free', and not in the service itself. Such free offerings are a very poor target market as almost all members of such schemes are trying to sell something, not buy what you're offering. To promote your business successfully, you must be prepared to spend money to brand and advertise your business. There are very reasonably priced promotion services as well as advanced and sophisticated ones. Stay within your budget. There's no general rule for an ideal advertising budget for a fresh new business [it depends on your financial circumstances], but this provision can be increased as your business grows and earns revenue for you.

*Your Target Market
What are the demographics of your market? Who are your potential customers? Why would they need what you're offering? Regardless of what you're selling, it's impossible that everyone would want it [unless your product can rival microsoft windows, and you have Bill Gates's marketing skills.] To emphasize - your market cannot include everyone. Not everyone is going to need or want whatever you're selling.

*Your Marketing Message.
What is the tone of your marketing message? Will it appeal to practicality, status, potential, immediate solutions to a pressing problem. How exactly will your product or service improve the quality of life or financial status of your target market? All your marketing materials, advertisements, and promotions need to project a clear and definite and message.

*Your USP [Unique selling point or proposition.]
Defining the unique selling proposition for your product will help your target audience differentiate it from your competitors. Almost all markets are highly competitive. There are way too many products or services chansing the same consumer dollar. Prospective customers are bombarded by an avalanche of almost similar products all claiming product superiority and best value of their dollar. What makes yours different? Why is it better? Unless your customer is convinced, you can't close a sale.

*Channels.
What is your advertising media? Few internet marketers can afford television advertisements. How are you going to advertise? You need to carefully review the various options available and decide how best to maximize the returns from the ones you choose.

*Retaining your customers.
It costs much more to attract a new customer than to keep exisitng ones. How do you plan on keeping your customer. In online marketing there are various methods open to you but you need to know how to use them effectively to lock in your existing customers. Remember, if you can keep your customer for life, you multiply the value of that customer.

Marketing is crucial to the success of every business. Failing to market your business effectively may bring you very limited revenue at best, or nothing at worst. About nine in every ten business start-ups fail.

But your business doesn't have to be amongst the nine. Many people mistakenly believe that their product or service is so fantastic and unique that it doesn't need much marketing. However, no one will know how great your product is, or that it even exists, if you don't tell them about it, and how to get it.

Increase your quantum of success by knowing how to run a business properly before you start, and continue to find ways to improve. It is also imperative that you have sufficient support and network with those with whom you can exchange ideas, ask for help or explore strategies and techniques that work. Trying to go it alone is really a really bad idea.

Copyright: Dan Jeremiah This article may be reproduced provided the entire contents and all links are included.