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5 Things Most New Business Owners Get Wrong When Marketing Their Startup

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5 Things Most New Business Owners Get Wrong When Marketing Their Startup

Every business owner knows that marketing plays an integral role in the productivity and performance of their firm. Therefore, most will naturally pay a lot of attention to this aspect of the operation. Sadly, that doesn’t stop the vast majority falling into common traps.

So, what are the common issues that new marketers face, and how can they be overcome? Here’s all you need to know.

Focusing Solely On The Revenue Generation

The purpose of all marketing endeavours is to gain more sales. However, earning an extra £100,000 of sales is a little futile if it costs £150,000 to do it. Therefore, it’s vital that you learn to stop wasting money on marketing. Strategic planning and regular analysis of all campaigns will help you achieve the desired results. In addition to the positive outcomes from a financial perspective, it’ll aid your time management too. As far as money is concerned, though, the bottom line is far more significant than the revenue alone.

Thinking All Traffic Is The Same

In today’s digital era, it’s easy to let ego-boosting numbers trick you into believing a campaign is working. However, social media fans don’t pay the bills. Likewise, it’s important to recognise that traffic to your site is futile unless it brings lead. Organic traffic is the key to gaining hot leads, which is why SEO and related strategies are integral to the strategy. When your traffic comes from the right sources, it becomes far easier to analyse consumer trends with accurate results.

Being Far Too Broad

When launching a new business, it’s only natural that you will want to reach the largest possible audience. As already stated, though, you need hot leads. An appreciation of your demographic reach is essential for anyone wanting to gain sustained results. Narrowing your appeal may seem counterproductive, but it will allow you to tailor the content to them. When your brand message resonates with your target market, it’s likely that conversions will soar as a direct response.

Ignoring The Need To Guide Clients

When a customer visits your store or website, they often need a push in the right direction. When dealing with the concept of web design, you should pay extra attention to CTAs and the sales funnel. Navigational elements should be supported by easy transactions and good customer care. Sadly, if you give customers any reason to doubt the company’s products or services, they will take their business elsewhere. The way consumers feel is a huge part of the shopping experience. Use it to your advantage.

Forgetting Repeat Sales

The stats show that it is far easier to sell to an existing client than win a new one. Remarketing to past customers as well as people that have shown an interest is vital. This could mean using cart abandonment emails or it may extend to loyalty schemes and special promotions offered to returning customers. Either way, ensuring that your campaigns aren’t focused solely on new clients will work wonders. The cumulative Customer Lifetime Value is more significant than the number of clients. Don’t forget it.

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