Launching successful marketing campaigns takes creativity, initiative and perseverance. Although most business owners learn the best ways to market through experience and pain-staking trial and error, there are several common mistakes made by new owners that can easily be avoided with a little foresight and preparation. We highlight these “rookie mistakes” below to help new owners generate effective campaigns that bring in higher returns on investment the first time and every time.
Rookie Mistake #1: Assuming that you are your own target market.
When it comes to marketing your most effective consumer audience, many new business owners make the common mistake of believing they are representative of the target market. For example, they think, “I am upscale, and I read Val-Pak, therefore other women like me read it, and in my market that is the best way to promote.” or, “This ad does not appeal to me, therefore it would not appeal to any woman who is in my demographic group.'”
This thinking is wrong and you should avoid advertising based solely on your personal beliefs or preferences. While tailoring your approach to a targeted market is the most effective way of getting your message to the right people, you do not want to narrow your audience too much, or alienate consumers all together. Instead, consider testing different types of ad campaigns, using focus groups and taking note of the marketing aims of other successful companies that share your industry.
Rookie Mistake #2: Giving up on a marketing plan too soon.
Do not assume your direct mail campaign is a failure because your 5,000 piece mailing only yielded 10 inquiries. Creating brand awareness takes time. Re-evaluate your mailing list and the criteria used when selecting the recipients. If you know that the parameters used were on point, trust your instinct. Be patient and keep at it. Through persistence, you will build your membership base.
It is common for new business owners to blame the marketing when they do not sell products or services effectively. A seasoned pro knows to keep close track of closing percentages so that he/she knows where their team is lacking. Manage every aspect of your business and keep up with any feedback you are getting. By tracking what your clients are doing, as well as how you are being received, you can pinpoint which marketing efforts are working the best.
Rookie Mistake #3: “Saving” money by ordering inexpensive print materials.
Ordering printed marketing materials from an online print wholesaler, a local printer, or producing your own on a home inkjet printer will nearly always translate to diminished quality. Many times, a prospective client will make a decision about your services or products based upon a single postcard, business card, or flyer they receive. Perception is reality when it comes to print quality. Keeping your print material and stationary at high quality presents a polished, professional image to the world and is well worth the money invested.
Rookie Mistake #4: Not keeping consistent with your universal image or brand.
Specific companies serve a specific market niche. For example, elements for women is an upscale, boutique fitness spa promoting a balanced approach to a healthy lifestyle: body, beauty, and mind. Every single marketing directive is consistent with this philosophy. The company does not aim their message at men or those interested in YMCA-type fitness facilities, because that is not consistent with the brand. While first-time business owners will want to target EVERYONE in hopes of getting more hits, they will get more results from directing their efforts towards people their brand is targeted at. It’s quality over quantity. Bottom line: stick to your niche and you will be very successful.
Rookie Mistake #5: Not taking advantage of off-premise marketing opportunities.
Some of the best, most cost-effective marketing can be accomplished through community events and sponsorships, and there are numerous ways to get involved while promoting your business. A community event can take many forms, including a marathon, local festival or charity ball. Although the cost varies depending on the type of event you are involved in, it is usually less costly and more personal than advertising and is a great grass-roots approach to marketing.
You can increase your impact at events by setting up kiosks and trade booths. Be sure to leverage the inclusion of your logo on all printed marketing materials, including event programs, t-shirts and merchandise. The cost is small and you'll make a good return on your investment provided your team assertively seeks and captures leads at the event. Make sure you and your team are properly attired in professional or branded gear and are excited about getting out into the community. Energy is contagious!
The Top Five Rookie Marketing Mistakes - To learn more about this author, visit Christopher Palumbo's Website.
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Christopher Palumbo
(Visit Christopher's Website)
Brand Director, Christopher Palumbo
Christopher Palumbo holds degrees in
Industrial Design, Economics, as well as
an MBA in Industrial Administration from
Carnegie Mellon University. Following
business school, Mr. Palumbo began his
career as a partner in a real estate
development company, where he developed
branding concepts for resort communities
in South Florida and the Carolina's. From
there his business accomplishments grew as
he orchestrated the complete turnaround of
a failing national real estate developer.
Soon after, Christopher changed gears and
used his talents to create an
award-winning World Gym concept store,
which now serves as the working model for
the Company's retail based fitness centers
worldwide. He owned and operated two
successful health clubs in the Carolinas,
which were purchased by Gold's Gym in
2003. Chris utilized his position within
the organization to orchestrate a
turnaround and capitalization plan for the
World Gym™ brand. To date, he has worked
with many of the largest and most
reputable companies in the fitness and
leisure industries, and is frequently
featured in industry and national press.
www.c
hrispalumbo.com/
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Health CEO - elements(tm) is the premium fitness
and lifestyle brand for women. From
New York to Seattle, our boutique style
clubs and stylish lifestyle branding are
setting a new standard.
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