Marketing only in the slow times To grow your business, you need an ongoing, targeted marketing programme you can manage year-round along with the day-to-day demands of your new business.
One mistake start-up entrepreneurs often make is to put marketing on the back burner and focus exclusively on the few customers they’ve got. Marketing only during the slow times dooms you to living on an economic roller coaster.
Failing to focus Often, start-up marketers fail because they try to tackle too many types of prospects on a limited, start-up budget. Going after everyone who will listen is a shortcut to failure. On the flip side, when you narrowly focus your marketing efforts on a qualified target audience, you’ll get spectacular results.
Overlooking testing and research So you think millions of people will want to buy your product or service. What makes you so sure? Before committing lots of cash to launching your new business, do some market research. The internet is your best source of published information. You can test the market using surveys. Testing can keep you from making costly mistakes based on false assumptions about your product, service or customers. Relying on just one or two tactics It’s only natural to rely on the marketing tactics you’re most comfortable with. If you like meeting and talking to new people, you may focus on networking. If you’re shy, on the other hand, you might rely solely on direct mail. Such single mindedness is a major marketing mistake because it prevents you from exposing a full range of prospects to your message.
