Beware: Marketing Sinkholes Ahead!
Life provides your business with enough opportunities for failure. Don't help it along by creating sinkholes to consume your limited financial resources. There are seven key mistakes most businesses make in the game of marketing. Learn to avoid them!
Marketing Sinkhole #1: Indiscriminate Lust
Many companies want as many customers as they can handle (and then some). Because of this indiscriminate lust for volumes of customers, they treat everyone alike in their marketing efforts. Much like a randy stud will hit on every female at the bar, your marketing comes off just as "special" to your prospective customers. If you won't take the time to decide who can really benefit from using your product or services, why should they take the time with you?
Successful marketing efforts start with identifying the specific customer who will benefit the most from your product or service. Then all your efforts should be directed at learning more about her, rather than creating the second sinkhole of marketing.
Marketing Sinkhole #2: Veiled Contempt for Customers
The most powerful marketing tool you have available is to truly understand your customer's unique needs and problems. Every customer segment will have different concerns and problems you need to address in your marketing efforts. When you don't even attempt to understand them, you are demonstrating contempt for them. You have to earn the right to be a supplier to your customer.
Your customers don't really buy your specific products and services. They are actually buying solutions to their problems. So, provide them with enough information to make informed buying decisions. Use articles, presentations and case studies to educate them about what you do, how it works for them and why it's the best solution to their problems. Don't be arrogant enough to think you know better than your customers.
Marketing Sinkhole #3: Arrogance
There is a very thin line between confidence and arrogance (I have crossed it many times so I know of what I speak). You and your company are not the "end all" and "be all" of the Universe. You need customers! They are (or should be) the "end all" and "be all" of your business.
Because you need customers, don't treat them like they are stupid! Your marketing should never talk down to them. Your ads should never be insulting to them. Isn't this apparent? You would think so. However, many companies violate these principles every day. They use hand puppets or animated germs to advertise their product.
Building off of the information you have learned about your customer, speak to them in their language. If they are 13 years old, talk to them as a 13 year old. If they are college educated, talk to them as if they have earned their degree. This will start you on your way to standing out from the crowd of competitors your customers have available to them today.
Marketing Sinkhole #4: One of The Crowd
You may have spent all of high school trying to be part of a crowd, now it's time to break old habits! As a business, you need to stand out from your competition to be noticed and make sales. You need to be one in a million, not just one of the millions. In Marketing, this concept is referred to as your "Unique Selling Proposition", or USP. Your USP must tell customers "what's so special about you?" It needs to answer the question "why should I do business with you?"
How do you develop your Unique Selling Proposition? What makes you different from others offering a similar product or service? Don't know? Better find out fast! The more competitive your industry the more important it is to emphasize even the smallest differences. Are you better than others in addressing a specific issue? Is your product unique in some way? Do you guarantee your work?
Better stand out from the crowd or expect a lot of red ink on the bottom-line. Wasting time and money on your marketing efforts is not a goal to aspire to.
Marketing Sinkhole #5: Wasting Marketing Time & Money
Which of your marketing efforts being employed right now result in the most new business? Don't know, do you? Have you ever measured? Without measuring the success (increased sales) of each marketing effort, you are wasting time on ineffective methods. You are also neglecting the highest yield activities.
As an example, most professionals believe that networking is the best way to get new business. Let's see. Add up the amount of time you spent networking last month and attach a dollar value on it based on your fees. Then, add the actual price you paid to attend those events. When you have a total, divide this total amount by the number of new customers your networking produced. Are you happy with your results? Maybe not!
Now, do this exercise for all your marketing efforts. Marketing does take effort. Never forget that!
Marketing Sinkhole #6: Build It and They Will Come Marketing Vision
By virtue of the fact that you have a business (and maybe a website) doesn't mean you get any customers. Tough fact! That's life!
Too many people naively enter business thinking that the world will beat a path to their door. Sorry! You have to work, and work hard, for every customer you'll ever get and keep. Marketing is about promoting yourself and your business in a way that motivates customers to buy from you, return again to purchase, and refer others to you.
Marketing Sinkhole #7: Not Asking for Referrals
One of your biggest costs of running a business is the cost of acquiring new customers. So, how can you take that investment you already made on existing customers and get the maximum return? Referrals! But you have to ask!
One of the biggest mistakes made by most small business owners or salesmen is not asking happy customers for a referral to someone they know who would benefit by the same product or service. It is far easier to call a prospective client and say, "Mike Eastman asked me to call you", than to make a cold call! You will buy yourself an extra minute or two in that sales connection to promote yourself and a customer solution. If you have trouble getting the referral, at the very least, ask if you can use them as a customer testimonial in your marketing efforts.
Many online businesses have other mechanisms to encourage referrals from happy customers by providing "refer a friend" links on their websites. Others also offer monetary return to the customer administered through an affiliate program. No matter how you do it, you need to use the happy customer to create more business. It is easier and cheaper than the alternatives!
Conclusion
The game of business throws you enough curve balls without contributing to your own demise. Learn to avoid building and falling into your own sinkholes of marketing. Now, go back and read the article again, applying its concepts to your business. Do the work and reap the rewards. Like "they" say, NO PAIN, NO GAIN! Or, better stated, NO WORK! DIE BROKE!
Michele Schermerhorn calls herself a "Corporate Freedom Fighter" dedicated to freeing cubicle prisoners to experience their own successful online business. She has over 30 years experience in the business world and over 12 years running her own successful online businesses. She is President of Online Business Institute Inc. (http://www.obinstitute.com), authors a sassy marketing blog (http://www.imarketblog.com), and regularly conducts free online seminars. Online Business Institute Inc. exists to "Create Successful Online Business Owners One Person At A Time".
 Google News Updated : Sun, 07 Sep 2008 08:08:09 GMT Gates outacts Seinfeld in Back To The Future - CNET News
CNET News - Which is why Crispin Porter Bogusky, the agency responsible for the otherworldly new Microsoft TV spot featuring the clowning Bill Gates and Jerry Seinfeld, is already happy. Microsoft's Renewed Vista Strategy Journals week in review: news from One Microsoft Way Publ.Date : Sun, 07 Sep 2008 00:01:52 GMT 'Wrestler' wins Golden Lion - Hollywood Reporter
Hollywood Reporter - By Eric J. Lyman ROME - Darren Aronofsky's "The Wrestler," which set the Venice Lido abuzz after its world premiere Friday, won the festival's top prize Saturday. Video: Mickey Rourke Pinned in 'The Wrestler' Will victory at the Venice Film Festival help 'The Wrestler' in ... Publ.Date : Sun, 07 Sep 2008 05:36:04 GMT Sarah Palin may have women flocking - to Barack Obama - New York Daily News
New York Daily News - BY KENNETH R. BAZINET and MICHAEL McAULIFF WASHINGTON - If John McCain wanted to poach the women's vote from Barack Obama, he shouldn't have tapped a running mate who dubbed herself a "pit bull with lipstick. Sarah Palin's appeal to working-class women may be limited A feminist's argument for McCain's VP Publ.Date : Sat, 06 Sep 2008 18:10:33 GMT 'Home: A Novel' by Marilynne Robinson - Los Angeles Times
Los Angeles Times - Drawing on the characters of prize-winning novel 'Gilead,' Marilynne Robinson revisits an Iowa town. By Emily Barton UNLIKE novels that delight in plot twists and structural play, Marilynne Robinson's Pulitzer Prize-winning "Gilead" is seemingly ... Back at home, troubled siblings look for refuge Their Father's House Publ.Date : Sun, 07 Sep 2008 07:04:58 GMT Yes, the mosquitoes were nasty this summer - Yakima Herald-Republic Yakima Herald-Republic - by Ross Courtney PROSSER - Cody Jansen sloshes through a pasture, his rubber boots squishing in muddy puddles as he goes. He dips a ladle into a tiny pool and looks closely. Rockland resisted West Nile virus query Aerial survey being conducted to find mosquito breeding grounds Publ.Date : Sun, 07 Sep 2008 06:47:33 GMT Health Buzz: Immunosuppressive Drug Warning and Other Health News - U.S. News & World Report
U.S. News & World Report - The Food and Drug Administration has asked the manufacturers of Humira, Cimzia, Enbrel, and Remicade—which belong to a class of medications known as tumor necrosis factor alpha blockers (TNF-alpha blockers)—to strengthen the warning for risk of fungal ... FDA urges more caution over TNF blocker infections Arthritis Drugs Linked to Risks From Infection Publ.Date : Fri, 05 Sep 2008 15:23:08 GMT Tim Tebow leads Florida past Miami - Los Angeles Times
Los Angeles Times - * at No. 5 Florida 26, Miami 3: Tim Tebow threw two touchdown passes for the Gators (2-0), who ended a six-game losing streak against the Hurricanes with their first win in the on-again, off-again series since 1985. Tebow's maturity key to Gators' win over Canes - College Football Marve's debut gives Miami (Fla.) reason for hope Publ.Date : Sun, 07 Sep 2008 06:58:47 GMT RSS Parser |
PARLOT::Ebooks, Scripts,
Websites, and more... As a small business how do you compete with the... Read More With so much money invested on innefective advertising, it's time... Read More Marketing your cleaning business is something that you will already... Read More Readers spend only a few seconds deciding the fate of... Read More Is your marketing department taking advantage of MOM and MRM?... Read More Say it with a post card. A well designed, colorful,... Read More One of the biggest marketing mistakes businesses make today is... Read More You probably read my headline and thought, wait a minute,... Read More After 11 years in sales, I've put together and delivered... Read More A person or business that might buy from you is... Read More As a business owner or marketer, if you don't reverse... Read More A well-designed chart can be one of the most persuasive... Read More Which pulls the best response, a postcard, a self-mailer or... Read More When people think about promoting their business, the first thought... Read More Generation X"--the 40 million or so people born between 1965... Read More I am doing what you do, sitting at my computer,... Read More You probably already have in your possession one of the... Read More Telemarketing has its place in the marketing arsenal. But telespammers... Read More Today's business marketing rules are different than they were in... Read More Two years ago I started my small Virtual Assistant business... Read More Okay, we were kidding about the smoke, but not about... Read More Wouldn't you love a simple formula for easily growing your... Read More We wait with baited breath for the anticipated launch of... Read More Online Communities are all over the Internet and attract lots... Read More One rule in direct mail is that your letter sells... Read More
Adsense
websites
Market Yourself as the Expert
Why Referral Business Is So Valuable
7 Proven Tips To Market Your Cleaning Business
Fundraising Letter Envelopes: How To Make Them Irresistible
Marketing Operations Elevates Public Relations and Communications Professionals
Postcard Marketing Done Right
Educating Your Customers
Ready, Fire, Aim!
Are Your Prospects Walking Out on You?
How to Convey Trustworthiness in Direct Mail Marketing Sales Letter
Reverse The Risk And Boost Your Profits
Creating Great Charts for Persuasive Trade Show Presentations
Direct Mail Formats: How to Choose the Right One for Your Next Mailing
Marketing Tips: Free First
Why Market to Generation X?
Write Effective Fundraising Letters By Being Conversational (Includes Examples & Samples)
Utilizing Your Best Hidden Asset To Increase Sales
Let It Ring
Keeping Pace with Business Marketing
Maximum Marketing - Minimum Budget
Tradeshow Booth Cures - Knick-Knack Knockouts
Five Steps to Partnering with Companies to Build Your Client Base
Will Googles Gmail spell trouble for Email Marketing.
Online Communities - A Marketers Wildest Dream and Worst Nightmare!
Brochures that Generate Sales Leads (and How to Write Them)
Affordable and Reliable Web Hosting Starting at $4.49/Month
The Real Marketing Genius
I spend a lot of my time reading books and... Read More
4 Dynamic Marketing Tactics
Some of the simplest marketing tactics often produce the most... Read More
You Must Get Going If You Want To Get Growing
For many of service-based businesses out there, it's not that... Read More
Guide to a Profitable Marketing Mix
You may have heard the term Marketing Mix used in... Read More
Why Doubling Your Fees Can Increase Business: How Pricing Affects Buyers Decision Making Process
Want to know the simple way to get all the... Read More
Massage Therapists Can Now Make More Money
As a massage therapist, your income is usually limited by... Read More
Why Do You Need to be in the SERPS?
Why does your business need to be in the Search... Read More
Do You Make These 5 Common Marketing Mistakes?
The famous P.T Barnum once said, "Without promotion, something terrible... Read More
Three Ways to Put Fresh Spins on Old Marketing Concepts
Are you struggling to find a new twist for... Read More
A Questionnaire for Businesses
As best you can, answer the following twenty-five questions. There's... Read More
Getting Your Marketing Message Across with CD Business Cards
CD Business cards allows any type of business that dynamic... Read More
4 Sales Strategies with Your Trade Show Exhibition Booth
Trade show booths can act as an excellent source for... Read More
7 Tips for Successful Postcard Marketing
Simple low-cost postcards have become a valuable business tool for... Read More
Two Steps to Improving Your Marketing Success
Since the human brain seems to be able to focus... Read More
Simplicity In Marketing
In a world that is spinning out of control; with... Read More
The M-Word
It was a real eye-opener to hear the perceptions people... Read More
Build Your Business Through Networking
Here's one of the most important success principles you'll ever... Read More
The Mighty Marketing Brochure
"Brochure" is French, and it comes from brocher, meaning to... Read More
Direct Mail Offers: Eight Steps to Making them Effective
Every direct mail package you drop in the mail should... Read More
How To Recognize Your Niche Marketing Agenda
Starting a business, whether it's retail products or services, must... Read More
Be Prepared for Marketing
For most businesses, making a sale is all important. However,... Read More
Promotions That Build Profit
Promotions are everything you do to let your customers know... Read More
Marketing to Success on a ZERO Budget
TOP 10 TIPS TO GET YOU MARKETING TO SUCCESS ON... Read More
7 Cheap & Easy Ways To Get Prospects
Here are some quick techniques you can put into place... Read More
Small Business Pricing Strategies
Think the best way to get more customers is to... Read More
Marketing |