As a business owner, the main goal of your overall marketing strategy is to communicate to your customers how your business can help them solve their problems, with the outcome of getting and keeping profitable and valuable customers. In today's digital age and with all current advances in technologies, business owners can reach out to thousands of people in new and engaging ways. However, this also means that the marketplace is saturated with competitors who will seize opportunities to gain advantage from your mistakes. This is why it's critical for any business owner to work smarter and acquire the right knowledge, tools, and build a solid plan of attack.
An online marketing strategy is part of the overall marketing effort and flawless execution is essential, if you aspire to create impact and add value to your target audience. Unfortunately, many business owners rush into creating an online presence without taking the time to build a plan of action, which results in putting energy and effort into weak strategies. The most common mistakes business owners make when marketing on the Internet Are:
Creating A Website With No Careful Planning
This might sound obvious for some, though you'd be surprised how many business owners end up wasting time and money building and developing a website where visitors have no idea what to do when they arrive or what type of business is represented. You only have one chance to impress your visitors within the first ten seconds of landing on your website before they experience a "stay" or "go" moment depending on the quality of your website's look, feel, and ease of navigation.
Failing to Research Competitors and Marketplace
Passion in life is important and can lead to happiness, however if you want to turn your passion into a business, you cannot jump into a venture without conducting impartial research in advance. A well-executed market research will show if enough people share a desire to buy your product or service, and it will also reveal the level of saturation in the marketplace which will allow you to determine if you can create a unique niche you can call your own. It's critical to always check your competitors and find out how their business compares with yours to determine any opportunity for improvement you can capitalize on.
Failing to Build E-Marketing Lists
Are you familiar with the phrase "If you build it, he (they) will come?" Well, when it comes to running a business, building it can be the easy part. Once your business is set and ready to go, you need to start building a relationship with your desired audience. One of the most important pieces of information your website can provide to you is the names and email addresses of visitors. The most effective way to develop an email database is to create a call to action instructing visitors to register. Once people register, they give you permission to send them promotional emails and other information. Keep in mind, it takes time to build and people are more apt to purchase from companies and people they know, like, and trust.
Failing to Track Marketing Campaigns Results
Tracking is the only way to find out what is working and what needs some adjustment. For every marketing strategy a business develops, it's important to track its Return on Investment (ROI) to avoid wasting precious time and money. For instance, two promotional email campaigns are developed and tracking results shows one worked better than the other. A company is now in a position to better understand how to communicate with their customer base. Keep on testing new ideas and eventually a winning formula will be developed allowing a business to pinpoint the areas where improvement is needed.
Failing to Follow Up With Prospects and Customers
Sadly, a lot of business owners fail at creating a follow-up system with prospects and consumers which is detrimental to help keep them loyal. Consistent communication builds trust and it can take up to 20 targeted reminders before an interested prospect turns into a customer. Once you have customers, do not ignore them or they will take their business elsewhere. You need to remind your prospects and customers how your benefits and features will help them solve their problems and needs.
What other mistakes can you think of when implementing online marketing strategies?