5 Marketing Mistakes Entrepreneurs Make That Can Damage Business



Entrepreneurship is not easy, especially when it comes to making a marketing strategy for your startup business. Entrepreneurs learn new things by analyzing the market trend and what works for their brand. Despite, all the analysis and statistics, they tend to make mistakes.

Many mistakes most of the time that looks massive, end up being temporary setbacks. However, some mistakes may prove fatal for a startup business plan. These mistakes arise only when entrepreneurs exhibit a fundamental misunderstanding of best marketing practices. So if you are an entrepreneur and looking to avoid marketing mistakes that you must avoid, here is a list:

1.       IGNORING THE BRAND

Your brand serves as the foundation of your business identity. It acts as a connecting link between your small startup business and your customers. Hence, if you try to market your business without a brand, you might have to taste the dust.

When people see your logo, your tagline, or pick up on your brand`s tone, they will form an opinion about your brand. This is the connection that is necessary for a business to thrive. Without it, your business is just floating in free space without any recognition and association.

So never market your business without brand building. The more connections you build the more familiar your customers will become with your brand.

2.        MARKETING TO EVERYONE

One of the biggest mistakes that entrepreneurs can make is not being aware of their target customers. For instance, not everyone loves Apple IPhones and there could be multiple reasons like budget, operating system, interface, or restrictions.

Hence, it is very important to choose your market niche carefully and not market your product to everybody. Many entrepreneurs think that “everybody” is the largest possible audience, and so it offers the largest possible return. But the truth is far from this notion. A generic brand message has the least recall value.

So to stand out, you have to be unique when it comes to marketing, just like your startup business idea. Create specifically crafted messages for one segment of your customers at a time.

3.       PRESUMPTIONS ABOUT AN AUDIENCE

Making presumptions can be disastrous when it comes to potential customers. There are some marketers who very well understand that every customer is unique and hence, they should craft messages by keeping a specific audience in mind. Still, they don`t do it effectively!

Instead of relying on data and statistics, they rather make broad assumptions about their target audience. This can be detrimental for any business, especially for a startup business that is struggling to enter the market. Every entrepreneur needs to ask this question to themselves. If they are making their market decisions because of the way you think things work, or because of the way things work in practical work?

4.       INVESTING LITTLE OR TOO MUCH

Successful investment in marketing is similar to putting salt in a dish- both demand a careful balance! Investing too much money at the beginning of the startup can be a waste of money because you might not know your target audience very well. You don`t know which platforms are more suitable for your business and what works best for your brand.

On the other hand, if you are investing too little, it will not yield desired results and you might not be able to acquire new customers.

5.       FAILING TO EXPERIMENT

Innovate or Die- this phrase defines marketing in the best possible way. If you are not experimenting, you can`t improve. And marketing is not a point-and-shoot game. It is a game of setting and resetting expectations, getting closer, but never reaching set parameters.

Hence, the only way to craft a perfect marketing strategy for your startup business is to try new things and being bold with your strategies, and see which ones work and which ones fail.

The above marketing strategies should be avoided when trying to establish a brand presence for a startup business. These mistakes are not only damaging for new entrepreneurs, but they are also some of the most common. The good news is that if you catch these mistakes early, you can up your marketing game.

If you want to know how to craft marketing strategies for your business, you can take our business coaching program.

Source: https://news.badabusiness.com/marketing/5-marketing-mistakes-entrepreneurs-make-that-can-damage-business-9585.html 

Location: Mumbai, Maharashtra, India

Comments

Post a Comment

Popular posts from this blog

Top 3 Low Investment Small Startup Business Ideas

Image
  Startups are proving to be a lucrative opportunity among millennials who are passionate about starting their own business with low investment. Especially, when the past two years have been like a nightmare to the entire world. Many people have lost their jobs and many businesses have shut down too. However, there have been so many new low investment business ideas that young entrepreneurs are trying and making profits. If you have a great idea and are determined to make it work, you can start a business online or offline. From Steve Jobs to Mark Zuckerberg some of the most powerful business leaders once started their businesses from in a garage or a dorm room. If you too are looking for some of the most amazing startup business ideas that need minimum investment, here is a list: 1.        Online Bakery During the imposed lockdown, many people discovered their love for cooking, especially baking. Once, I was reading an article written by V...
Read more

How To Find More Clients As A Freelancer?

Image
  Working for yourself at your convenience is unbeatable. The flexibility to work from anywhere in the world, and get paid is quite amazing and this is why freelancing has become a common term in this era. Though the concept of freelancing has existed for a long time, not many people chose it as a full-time income source because of the lack of clients and unattractive income. But with the pandemic striking the world thrice since 2020, freelancing has become a common and most preferable norm. Although freelancing is preferred by many young professionals, they often struggle to find work. And finding a new client or more business is probably the most daunting aspect of being self-employed. So how can you enjoy the freedom of working as a freelancer, and get more work at the same time? You can watch this video by Dr. Vivek Bindra to find out what are other professional opportunities you can take up as a freelancer:  Here are 4 amazing tips that will help you to get more b...
Read more

How To Overcome 3 Challenges That Every Solopreneur Faces During Business Journey!

Image
  Whether you are a solopreneur or an entrepreneur, when you start your venture, a lot is riding on your shoulders. You are like a one-man army who has to do multiple tasks on your own. You are a staff of your own, which is why you have to don a hat with multiple feathers. From setting up working hours, how much revenue you generate to how many clients you have is completely up to you. You are your boss. You set your own rules and reap the rewards. But these rewards are received only after putting in the time and effort to set your business up for success. Creating a full-time long-term business involves more than just getting good clients from time to time. Becoming a successful solopreneur requires proper planning, follow-through, constant learning, amazing business ideas, and having reliable partners. So if you have started a step to venture out on your own, here are few challenges that solopreneurs often face and few helpful suggestions for how you must overcome them: 1...
Read more