Marketing sins… Dun dun dunnn
If you’re a small business, you probably find yourself fighting for a share in a very competitive market. It’s crucial for profitability to get your message heard, which is why marketing is core to business success. But is your marketing doing you more harm than good? If you don’t get it right, you’ll be wasting your money, time and opportunities.
Here are our top marketing sins to ensure you steer clear:
1/ Valuing quantity over quality
Many businesses value quantity over quality, and although quantity can be important in achieving certain goals, for instance increasing your web traffic, quality is always more effective at converting leads into customers.
You are better off with fewer leads that come from people within your target market, who actually have an interest in your product or service. This applies to all your marketing activities and campaigns.
2/ Focusing on the wrong metrics
Start by narrowing your focus. Many companies create dozens of reports, tracking numbers on top of numbers. This pulls attention in different directions, resulting in hours wasted on tracking the wrong metrics.
Identify your top business goals and then consider which key metrics directly connect to those goals. This will allow you to track the right metrics and ultimately help you to measure how your company is progressing towards its goals.
3/ You don’t know where your leads are coming from
Understanding where a lead came from is crucial to helping you formulate the right pitch to meet the specific needs of the prospect. For instance, if a lead came from a campaign cantered around discounts, it could indicate that the potential lead is price sensitive.
If you don’t know where a lead came from, you’re also missing out on insights such as:
- Did the lead have brand awareness?
- Were they in research or buying mode?
- How long it will likely take to convert them.