“Business has only two functions- Marketing and Innovation” -Milan Kundera.
When it comes to marketing, there is no one-size-fits-all approach that you can try. You need to conduct consumer research, learn about competitors’ tactics, understand the market trend fluctuations and do much more to formulate an effective strategy....
Due to this, newbie entrepreneurs and marketers often feel overwhelmed and end up making the following rookie mistakes.
Mistake No. 1: Not Defining Your Target Audience
The first step in formulating any campaign is to know its target audience. Only that way you can create the ideal message and compel the prospects to take action. However, many newbie startups fail to identify and define their audience. They are generally more concentrated on making it big in the industry with their state-of-the-art products. They cast a wider net on the audience, which may or may not be ideal for their business or product.
So, before you draft a campaign, narrow down your target audience and formulate the message.
Mistake No. 2: Neglecting Storybrand Framework
“Nothing sticks in your head better than a story. Stories can express the most complicated ideas in the most digestible ways.” -Sam Balter.
If we take a trip down memory lane, all the stories or content ever created followed a sophisticated framework. It enables the storyteller (marketer in this scenario) to share the message with their audience without complications.
To explain simply, storybrand marketing is essential to map out the customer’s needs and satisfy them. It makes it easier for marketers and businesses to shift their focus from their accomplishments toward the customers’ requirements. It makes their campaign customer-centric and more impactful.
Mistake No. 3: Not Tracking The Results
Irrespective of what means of marketing you have selected- online, newspaper, billboards, podcasts, or television, you have to track its results frequently. This is a pretty common mistake that entrepreneurs- old or new make.
Tracking the campaigns allows you to learn about the plan’s target audience, market changes, and potential loopholes. It ensures that your resources are deployed in the right direction and that ROI is apt.
You can use numerous tools and programs to track the progress and success of your campaign. Whatever results you may obtain will help you in future decision-making, thereby boosting your marketing efforts.
Mistake No. 4: Constant Experimenting
Last but not least, entrepreneurs do not use A/B testing for their promotional plans. Instead, they follow the “play spaghetti” concept, i.e., throw it up to check what sticks. This tactic brings frequent fluctuations in the plan and provides poor results.
Entrepreneurs should prioritize a promotional concept that allows flexibility as per the market circumstances. For this purpose, immense research is required. Not to mention, following a single plan with fewer modifications helps gain the target audience’s trust. It indicates that the brand knows what they are doing and has a clear goal in mind.
To Sum It All Up
What marketing strategies you implement in the first few years of your business go a long way in brand growth. So, it is important that you don’t rush your decisions; instead, think through them. Learn about the possible loopholes in the campaigns and work with a team to find potential solutions.
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