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".
![]() |
|
![]() |
|
![]() |
|
![]() |
Some people are happy with just a business card. For... Read More
I would like to introduce you to one of my... Read More
Are you trying to promote your business with a tiny... Read More
I attended a "Sales Focus" seminar a few years back... Read More
Do you ever wonder if you could be doing a... Read More
excite v. 1 a: to call to activity b: to... Read More
On Superbowl Sunday, Domino's Pizza delivered more than 900,000 pizzas-and... Read More
If you're reading this article, chances are that you, like... Read More
Here are some quick techniques you can put into place... Read More
Do I need a web site? That is the question... Read More
The internet of course brings a huge arena of marketing... Read More
Do you want to be quoted by the national press... Read More
A little advice about using leads that you purchase from... Read More
1) Know the company and their culture. Are they trendy... Read More
Corporate marketing groups - especially bandwidth-challenged small-to-mid-sized departments - can... Read More
Change is good, right? Not always. But when is it... Read More
Are you having trouble understanding basic situational marekting concepts? Then... Read More
The trick to a good promotion is to attach your... Read More
With the continued proliferation of the Internet, the meaning of... Read More
Every professional or consultant knows that clients typically hire people... Read More
Here's one of the most important success principles you'll ever... Read More
The postcard can be a very powerful marketing tool. Many... Read More
Donald Trump's hit reality show, The Apprentice is a godsend... Read More
I just spent a week at the beach with my... Read More
Websites have replaced the brochure as the "must have" marketing... Read More
Many service business owners these days are "giving away" their... Read More
The Logo: a little historyLogotype, commonly know as a logo,... Read More
The right direct mailing list targets people who want your... Read More
Can we imagine a place in the world today without... Read More
Does it make sense to clap for your customers? It... Read More
Business Systems that work for anyone, are a fundamental necessity... Read More
So how do you effectively market your product or service... Read More
What if you've done a variety of marketing activities over... Read More
1. Make copies of your web site in many different... Read More
Unless you've been living under an Internet rock, you've probably... Read More
Information is coming at us from all directions nowadays. This... Read More
1. Know your purpose: What do you want your direct... Read More
If you're reading this article, chances are that you, like... Read More
Loyalty marketing has been around for as long as retailing... Read More
I don't know if you have ever seriously considered bartering.... Read More
The single biggest, non-renewable asset you have is your time.... Read More
There is no shortage of marketing programs, many with great... Read More
If you use direct mail postcards to generate leads or... Read More
For those new to marketing planning, the thought of completing... Read More
"But this won't work" said Steve. "I've tried it in... Read More
Our bodies work like our small businesses. They work best... Read More
Sponsorship is the fastest growing form of marketing in the... Read More
Your marketing weak link could be undermining the rest of... Read More
"If he who has a thing to sell Goes and... Read More
Trade Shows are lots of work, but they can generate... Read More
Whether you're creating a sales letter, a brochure, a newsletter,... Read More
Display graphics are graphic images used for illustration or "display"... Read More
Secret #4 - Get very comfortable asking for paymentOne of... Read More
35 Ideas to Spark Your Creativity:There are 3 ways to... Read More
Without a doubt, if you asked me, Shane if there... Read More
Let's continue to discuss the various marketing principles that are... Read More
You can use great design and copy to get a... Read More
Donors read postscripts. This is a sad but important reality... Read More
Today, more than ever, the success of meetings relies heavily... Read More
Over the course of your business life you'll come in... Read More
To help promote your small business or professional practice, consider... Read More
Toby is one of our two family pets (both cats).... Read More
Some people have little difficulty attracting and maintaining clients who... Read More
Many small and home based businesses know they need to... Read More
Effective customer newsletters find the right mix of promotional and... Read More
We all watch the commercials on TV. We hear them... Read More
Marketing |