The biggest issue with marketing as such is that people tend to make grave mistakes along the way and end up with strategies that can lead to pitfalls that don’t benefit the company at all. Marketing mishaps can lead to disastrous results and in some cases completely derail a company. The best example of such a situation is the recently concluded H&M controversy when their marketing strategy was accused of being extremely racist, this greatly impacted the way the company was viewed by a lot of different people. Here in this article, we look at some of the common marketing mistakes that organizations commit and how to avoid them.
1. Lack of Research
It would be surprising for you to know that a lot of organisations don’t invest enough money or resources into understanding who they are marketing to. It is never good to have a guess work on potential customers. So take the time to understand who will use your product or service.
Marketing strategies are often diluted, and many organizations commit the grave mistake of promoting the company generically. The right positioning and market focus coupled with branding strategies can greatly boost the long-term prospects of the company.
It might be surprising to know that a lot of organizations don’t have a unique selling proposition. A USP is your philosophy around which organizations can build their marketing strategy. Having a strong USP will also create a niche within the market that relies on you to give them great products. For example, Apple has one of the best USPs in the market as well one of the largest niches. Their large consumer base is due to the consistency in their USP.
4. Repeat Customers
Your marketing strategy is only effective if it maintains and retains previous customers. Marketing campaigns are expensive propositions and can’t be rolled out over and over again. An effective campaign will not only attract new customer but also help retain old customers. Most organizations tend to disregard their old customers and focus heavily on newer markets this can lead to greater financial loses. If something is going right then don’t change it to the point that it doesn’t.
5. Customer Needs
There is a difference between having a great product that you think will be the next big thing and a product that is the next big thing. The difference lies in understanding customer needs. To avoid this pitfall, you need to understand what the need is and come with a service or product that overcomes that need. Your marketing campaign needs to be structured around how you’ve overcome the gap.