Developing an effective marketing plan is an important step in growing your business. After all, you want to get as many people talking about your products or services as possible. Because it’s helpful to be aware of the potential pitfalls associated with creating a marketing plan, here are six mistakes to avoid.
Mistake #1: Skipping it altogether
Not creating a marketing plan for your business can be a big mistake. New businesses need a marketing plan to set goals and track results. The plan should serve as a map of priorities and provide accountability.
Mistake #2: Not performing market research
Market research provides an unbiased look at what works and what doesn’t. Without these insights, it’s difficult to identify key factors in positioning your company such as consumer buying habits, market trends, areas of growth and decline, and more.
Mistake #3: Forgetting the USP
No matter how successful your company is, there is no way it can meet every consumer need. What sets it apart from the competition? What do you want your business to stand for? That is your unique selling proposition (USP) and should be the focus of your advertising campaign.
Mistake #4: Targeting the wrong customers
You can’t target every consumer because it’s impossible for everybody to want your products or services. Identify your likely buyers (as well as a few levels of segmentation) for the best results.
Mistake #5: Marketing via the wrong channels
Once you’ve established your target know your audience, it’s time to decide on your market strategy. In other words, where will you find the most likely buyers: email, social media webinars, events, or another channel?
Mistake #6: Not following through
One of the biggest mistakes small business owners make is to forget about the marketing plan after creating it. Review your plan on a regular basis to evaluate your progress. Determine how well you’ve achieved your goals and make the necessary changes to improve the results.
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