As business owners, we’re faced with some tough decisions. In order to make ends meet we sometimes have to tighten our budget and cut out the non-essentials. What any experienced business owner will tell you is that there are certain areas of a budget that should never make their way to the chopping block – marketing being one of them.
One of the most deadly marketing mistakes you can make is to halt your efforts in an attempt to save money. Scores of great strategies have been pulled before they have begun to payoff. That’s right; you invest all this time and money into creating and implementing a marketing plan, but pull the plug before things really get going. While this may save you a few bucks right now, it will most certainly hurt your bottom line in the long run.
Here are four ways you can avoid making this deadly marketing mistake.
1. When times are tough, don’t cut your marketing.
Every business will experience its ups and downs, its busy seasons and off seasons and its times of feast and famine. One of the worst things you can do when times are tough is to cut out your marketing or public relations efforts. After you’ve spent months engaging your audience, to completely go silent would undo all of your work up until this point. Whether you can see it or not, they are there and they are listening.
Instead, you may need to narrow down your tactics to those with the greatest ROI to adhere to a tighter budget, but you should never hit the big, red stop button. After all, it’s your marketing, public relations and advertising efforts that are going to help pull in more business which is the one thing you desperately need during a dry spell.
2. Set reasonable expectations for results.
Another reason businesses panic and pull the plug on their marketing efforts is because they don’t think they’re getting results. This is a deadly mistake because in reality you likely are achieving results, they just might not be the silver bullet you were expecting.
Set reasonable expectations. Learn to embrace the necessary slow burn of business growth that directly applies to your marketing efforts. You should value the consistency and quality of your results, not the sheer speed and quantity.
3. Measure progress in all forms.
Progress is not always obvious. Be open to looking for it in unexpected places or for it to produce different results than what you might have anticipated.
For example, your Facebook posts may not be getting more then 2-3 likes, but your analytics show that several hundred people have seen the content. You can also see from your blog’s stats that 20+ people a day are being pushed to your blog from Facebook. Those are some valuable results! When you do your research you might find that you’re achieving a whole lot more than what Facebook likes could tell you alone. This is all the more reason to stay consistent with implementing your marketing tactics.
4. Repeat your winners.
Don’t be afraid of repetition. Again, don’t be afraid of repetition. Sure, we always want to be coming up with new ideas and strategies to catch our audience’s attention, but don’t shy away from repeating something you know works for you.
Advertising guru, David Ogilvy believed repetition was an essential part of growing your readership. He felt that you should repeat yourself up to five times to see the full benefits of your messaging. People don’t always catch things on the first pass (Can you name the product the last commercial you saw was trying to sell you?) and repetition is an essential way to ensure consistent and clear messaging.
The importance of repetition is all the more reason to maintain balance with your marketing and public relations tactics. If you started a monthly newsletter or a bi-weekly blog, your audience will come to expect to hear from you at these intervals. When a month or two goes by without you “touching base,” you will quickly fall out of sight and out of mind. Stay top of mind by staying consistent with both your messaging and your strategy – and avoid making this deadly mistake!
Where have you seen this deadly marketing mistake being made? Share your examples by commenting below!