5 Mistakes Biz Owners Make With Their Marketing
5 Mistakes Biz Owners Make With Their Marketing
Fortunately (or unfortunately, depending on how you look at it) many marketing challenges can be traced back to a handful of marketing mistakes. Today, I'll talk about the top 5 marketing mistakes business owners make.
1. Too broad a target market (who you're selling your product or service to). If I ask you who your customer is and you answer "anyone with a pulse," then I'm talking to you.
Even if your product or service CAN help just about anyone on the planet, not everyone is going to buy it. They don't have the money or the interest or whatever. And when you try and target everyone, you really end up targeting no one.
The way to start making money (not to mention getting better results with your marketing) is to narrow your target market so you're only talking to one specific group. However, there are pitfalls with that as well, as we see in the next mistake.
2. The wrong target market. This happens when you've chosen the wrong target market. What do I mean by wrong target market? They either aren't interested in buying your product or service or they don't have the money.
Let's look at the first one, lack of interest. What happens here is the word "need" is misused. "I know my target market needs this, therefore they'll buy it." Not so.
This happens a lot with people in the health and wellness field and it typically goes something like this. You are passionate about teaching yoga and you want to reach committed couch potatoes. Do committed couch potatoes need to be doing yoga? No question. Do they want to be doing yoga? Probably not or they wouldn't be committed couch potatoes.
So let's look at the second one, lack of funds. This happens when you're going after a customer base that desperately wants what you're selling but can't afford it. For instance, a high-end spa targeting low-income single mothers. Would this target market adore the stress relieving benefits of a day at a spa? No doubt. Can they afford it? Probably not.
Now, that example is obvious, but it's not always so cut and dried. Especially with service professionals. Business and life coaches for instance. They're so passionate about what they do and they want to see people succeed, they go after a target market that may really want and need their services, but they can't afford them. So these coaches lower their fees or coach for free or trade out (even if they aren't interested in the trade) or something else that isn't terribly helpful to their own business success.
Bottom line -- make sure you choose a target market that not only can afford your product or service but also want it. (Desperate for it is better yet.)
3. Looking for your target market in all the wrong places. This is a situation where "build it and they will come" doesn't work. Once you know who your target market is, you need to go to them. And you shouldn't waste your time in places where you won't find them.
Let's say your target market is Fortune 500 companies. Is hobnobbing at your local Chamber of Commerce going to pay off for you? Probably not. But buying a targeted list and putting together a direct mail campaign? Much better idea.
Or, for instance, a friend of mine just realized a new niche target market she was going after doesn't spend much time online. And, you guessed it, she does most of her marketing online. So, she either has to change her niche market or change how she markets to them.
Once you've selected a viable target market, make sure you're putting your marketing time and dollars into places where they hang out.
4. Not a compelling message. Okay, you know you've got a good target market and you know how to reach them. But you're still not getting any results. Now the problem might be your message.
People have a lot of choices on where to spend their mo^ney. You have to give them a very compelling reason why they should spend their hard earned money with you.
Here's where it makes sense to brush up on your copywriting skills (writing promotional copy) or hire someone to write your copy for you.
5. Not getting in front of your target market often enough. So you've run one ad. Or mailed one postcard. Or attended one networking event. And the work isn't pouring in the door.
Hmmm...
It's a sad fact that you need to consistently get in front of your target market time and time again. Unfortunately, for the most part, your target market won't wake up and say "Gee, I have to give so-and-so some money today" without some encouragement on your part. Remember, it's not your target market's job to remember you. It's your job to remind them you're here and would love to have their business.
5 Mistakes Biz Owners Make With Their Marketing - To learn more about this author, visit Michele Pariza Wacek's Website.
Like this article? Share it with your friends
 |
Free Download - 5 Tips to Get More Results from Your Marketing Materials By Michele Pariza Wacek |
Wondering why your marketing isn't working all that well? Never fear, help is here.
Fortunately (or unfortunately, depending on how you look at it) many marketing challenges can be traced back to a handful of marketing mistakes. Today, I'll talk about the top 5 marketing mistakes business owners make.
1. Too broad a target market (who you're selling your product or service to). If I ask you who your customer is and you answer "anyone with a pulse," then I'm talking to you.
Even if your product or service CAN help just about anyone on the planet, not everyone is going to buy it. They don't have the money or the interest or whatever. And when you try and target everyone, you really end up targeting no one.
The way to start making money (not to mention getting better results with your marketing) is to narrow your target market so you're only talking to one specific group. However, there are pitfalls with that as well, as we see in the next mistake.
2. The wrong target market. This happens when you've chosen the wrong target market. What do I mean by wrong target market? They either aren't interested in buying your product or service or they don't have the money.
Let's look at the first one, lack of interest. What happens here is the word "need" is misused. "I know my target market needs this, therefore they'll buy it." Not so.
This happens a lot with people in the health and wellness field and it typically goes something like this. You are passionate about teaching yoga and you want to reach committed couch potatoes. Do committed couch potatoes need to be doing yoga? No question. Do they want to be doing yoga? Probably not or they wouldn't be committed couch potatoes.
So let's look at the second one, lack of funds. This happens when you're going after a customer base that desperately wants what you're selling but can't afford it. For instance, a high-end spa targeting low-income single mothers. Would this target market adore the stress relieving benefits of a day at a spa? No doubt. Can they afford it? Probably not.
Now, that example is obvious, but it's not always so cut and dried. Especially with service professionals. Business and life coaches for instance. They're so passionate about what they do and they want to see people succeed, they go after a target market that may really want and need their services, but they can't afford them. So these coaches lower their fees or coach for free or trade out (even if they aren't interested in the trade) or something else that isn't terribly helpful to their own business success.
Bottom line -- make sure you choose a target market that not only can afford your product or service but also want it. (Desperate for it is better yet.)
3. Looking for your target market in all the wrong places. This is a situation where "build it and they will come" doesn't work. Once you know who your target market is, you need to go to them. And you shouldn't waste your time in places where you won't find them.
Let's say your target market is Fortune 500 companies. Is hobnobbing at your local Chamber of Commerce going to pay off for you? Probably not. But buying a targeted list and putting together a direct mail campaign? Much better idea.
Or, for instance, a friend of mine just realized a new niche target market she was going after doesn't spend much time online. And, you guessed it, she does most of her marketing online. So, she either has to change her niche market or change how she markets to them.
Once you've selected a viable target market, make sure you're putting your marketing time and dollars into places where they hang out.
4. Not a compelling message. Okay, you know you've got a good target market and you know how to reach them. But you're still not getting any results. Now the problem might be your message.
People have a lot of choices on where to spend their mo^ney. You have to give them a very compelling reason why they should spend their hard earned money with you.
Here's where it makes sense to brush up on your copywriting skills (writing promotional copy) or hire someone to write your copy for you.
5. Not getting in front of your target market often enough. So you've run one ad. Or mailed one postcard. Or attended one networking event. And the work isn't pouring in the door.
Hmmm...
It's a sad fact that you need to consistently get in front of your target market time and time again. Unfortunately, for the most part, your target market won't wake up and say "Gee, I have to give so-and-so some money today" without some encouragement on your part. Remember, it's not your target market's job to remember you. It's your job to remind them you're here and would love to have their business.
5 Mistakes Biz Owners Make With Their Marketing - To learn more about this author, visit Michele Pariza Wacek's Website.
Like this article? Share it with your friends
 | |
 |
No article feedback found. |
| |
Leave Your Feedback |
 | |
| |||
John AlexanderJohn has taught keyword research and SEO skills to small groups of business owners and Webmasters from over 80 different countries world wide since 2002. John is also the Director of Search Engine Academy ; Co-director of Training at Search Engine Workshops offering live, SEO Workshops with his partner SEO educator Robin Nobles, author of the very first comprehensive online search engine marketing courses at SEO Training Online and the SEO Workshop Resource Center. I look forward to hearing from you! - Visit John Alexander's Website |
|||
Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
|||
John PowerJohn Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power's Website |
|||
Cheryl MatthynssensCheryl is a life skills coach, licensed Chemical Dependency Counselor and a 20 year entrepreneur. Cheryl's dedication to achieving a life of balance led to her expanding her teaching from the simple managing of life's daily challenges to adding financial well being as well. A direct marketer with DrinkACT, she is gaining ground in the online community with her concepts of making sure business owners, entreprenuers and employees have well rounded life styles. She opened up a small affiliate site - The Balance Guide- to help others find resources for mental and emotional well being. Visit Cheryl's blog to see more of the diversity beyond business she has began offering online at www.thebalanceguide.blogspot.com - Visit Cheryl Matthynssens's Website |
|||
Kim CastleWith nearly two decades in the advertising and design business, with clients like Domino's Pizza, General Motors, Direct TV, Pedigree, Wolfgang Puck, Higher Octave Music, Hollywood Celebrity Products, Disney, and Paramount, as well as thousands of entrepreneurs around the world define, structure, communicate, and position their business for greater profits, BrandU(R) co-creators Kim Castle and W. Vito Montone discovered that entrepreneurs could experience the same power that big brands command for a fraction of the cost with the world's only process-based results-drive Integral approach to business creation. BrandU(R) is helping entrepreneurs grow with the power of extreme clarity from idea...to brand...to market(TM) and helping one million entrepreneurs become successful and whole so that they can make a difference in the world. Are you one of them? If you want to experience clarity all the way to the bank(TM), get started now at http://www.brandu.com. - Visit Kim Castle's Website |
|||
Dave KurlanDave Kurlan is the founder and CEO of Objective Management Group, Inc., the industry leader in sales assessments and sales force evaluations, and the CEO of David Kurlan & Associates, Inc., a consulting firm specializing in sales force development. Dave has been a top rated speaker at Inc. Magazine's Conference on Growing the Company, the Sales & Marketing Management Conference and the Gazelles Sales & Marketing Summit. He has been featured on radio and TV, including World Business Review with General Norman Schwarzkopf, in Inc. Magazine, Selling Power Magazine, Sales & Marketing Management Magazine and Incentive Magazine. He is the author of Mindless Selling and Baseline Selling – How to Become a Sales Superstar by Using What You Already Know about the Game of Baseball. He created and wrote STAR, a proprietary recruiting process for hiring great salespeople, and he writes Understanding the Sales Force, a popular business Blog and is a contributing author to The Death of 20th Century Selling and 101 Great Ways to Improve Your Life, Volume 2. - Visit Dave Kurlan's Website |
|||
Jeff FosterWebBizIdeas.com is a Minneapolis website design company founded to help people start an internet business by providing them with website, business, and internet resources that help foster the growth of successful online businesses and develop innovative Internet business ideas. We specialize in internet consulting & internet marketing. - Visit Jeff Foster's Website |
|||
Stephanie RobeyStephanie Robey is President and CoFounder of Pivot Positive, LLC - an Internet marketing business focused on helping people start work at home ventures. Previously, she was employed at The Search Agency with over 20 years experience in graphic design and 10 years experience in online marketing. She was responsible for launching the Conversion Path Optimization (CPO) unit where she and her team have conducted hundreds of optimization tests for online companies across multiple verticals. She is a successful entrepreneur having started and sold 2 companies and remains on the board of directors of the third, PhotoSpin.com Stephanie began her career in the direct marketing realm creating and producing direct mail for many of the major cable television companies and directly attributes her understanding of Internet marketing to those early offline experiences. Stephanie is a graduate of San Diego State University with a BFA in Graphic Arts and also holds an Executive MBA from the Graziadio School of Business and Management at Pepperdine University. Read Steph's Blog Meet Steph and Dave Sign up for our Free 7-Day BootCamp: Self Employed & Rich - Visit Stephanie Robey's Website |
|||
|
To learn more about the Evan Elite Author Program please contact us. | |||
 | |
|  |
Subscribe to Michele's articles
 | |
|
|  |
 | |
|
| |
 | |||||||
|
 | ||
 |
||
 |
||
 |
||
|
| ||
 |
| Have you written articles that would be of value to entrepreneurs? Become an expert on our site by publishing them! Expose yourself to a wide audience, drive more traffic to your website and get more sales! Click Here for details. |
|
|
 |
| Modeling the Masters: Learn the true secrets behind Walt Disney's business success factors & grow your company! Video produced by Phanta Media |
|
|
 |
"Learn straight from Evan how you can Make a Full Time Income (And More) from a Website"
Click Here To Learn More |
|
|
|
|
Get advice & tips from famous business owners, new articles by entrepreneur experts, my latest website updates, & special sneak peaks at what's to come!
|
|
|
 Optimus Performance Campaigns to Customers Strategic Planning Guide Instant Press Release Risk Management |
|
 | ||
 |
More PR Resources
Press Release Builder | |
 |
Top 50 Social Media Blogs
Top 50 Social Media Blogs | |
| ||
 | ||||
| ||||
|
| ||||
| ||||
|
|
|
|
|
|||
|
Email us your ideas on how to make our website more valuable! Thank you Sharon from Toronto Salsa Lessons / Classes for your suggestions to make the newsletter look like the website and profile younger entrepreneurs like Jennifer Lopez and Sean Combs!
|
|
|
| ||||||||||||
| ||||||||||||
|
|
||||||||||||