• Apr 15

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    The don’ts of marketing

    Mistake 1: Failing to accurately identify your target markets

    Many businesses fail because they try to tackle too many types of customer on a limited marketing budget

    Avoiding: Identify those customer groups that are most likely to need/want your product.

    Mistake 2: Not doing market research

    How do you know if people are going to want your product or service?

    Avoiding: do some market research before anything else

    Mistake 3: Relying on just one or two marketing tactics

    Relying on one or two marketing tactics is a major marketing mistake because customers invariably need to be exposed to your message in at least three different ways before they’ll consider buying your product or using your service.

    Avoiding: When you’re planning your marketing programme, choose from a variety of tactics.

    Source

  • Apr 14

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    Here are some things to consider in order to differentiate yourself from other businesses.

    - Lower your prices OR Raise your prices for premium goods & services
    - Increase your inventory OR decrease your inventory and only carry specialty items
    - Increase your area of expertise if you have a service-based business OR Specialize or narrow your niche
    - Offer free shipping on all orders or on orders over a certain amount
    - Offer a customer loyalty program
    - Apply for a patent
    - Achieve ratings, rankings, win awards from well-known associations or organizations