Every firm understands the fact that marketing is the driving factor of success. No matter how amazing of a product you produce or how skilled of a workforce you own, if you are unable to sell your products then you are unable to generate income and as a result you unable to pay the employees. So even if you are a person new to a market you need to realize that there is lot of work marketing does. Therefore, being aware and avoiding the following mistakes would always be for the best.
Setting up in house marketing
So, as a newbie to the industry one of the biggest problems you have is funds. You need to be able to accommodate all that you have to spend for on a tight budget. And so, in such instances setting up your own in-house marketing team wouldn’t help. Instead look at other options like outsourcing, interns or may be even freelancers who would do the job for you at a much lower cost. By doing so, you can fearless invest on a light box signage that would attract the customers you are targeting through offline means of marketing!
Not owning a website
Today basically everything is done online. If someone wants to purchase something or simply learn more about something they expect to find related information online. It has come to an extent where if a particular store is not available online either it is disregarded once and for all or its legitimacy on the whole is questioned. So, the first step you need to start off with is by opening up a website. In addition to that make sure that you constantly update it as well.
The only way you are unable to identify where you stand in terms of your marketing, is by reviewing it. If don’t do so you’ll only be investing thousands and thousands of dollars without seeing a proper outcome at all! Therefore, measure your sales volume, the pay-per-click ads and such to use the data generated from them to arrive at the right conclusions. Doing so would help you understand what you should be working on further or what you should be cutting down on. This way you would be able to make effective use out of limited funds as well.
Getting the target wrong
The basic step of marketing starts off with firstly identifying the target market. You could be producing the most innovative product of the season but if it doesn’t cater to the market wants or the environment your business is situated in, then you are only going to end up with a low. Imagine selling ultra-high definition TVs with surround sounds with a 5D experience, in Ethiopia! Ridiculous isn’t it and that’s why targeting is necessary!
So, avoid the above mistakes and position your business and products well in the market!