The Biggest Marketing Mistake Entrepreneurs Make

“A lack of single mindedness in marketing communication”  -  By Tom McMillian President, Techtao, LLC

 

Entrepreneurs, your most important job is to market your business, then to deliver your products and services. Remember nothing happens until you sell it. You need to identify your buyers and then provide them with a compelling reason to buy. You need to use marketing to move your potential buyers from awareness - to interest - to trial - to purchase - to loyalty. The biggest mistake that entrepreneurs make is a lack of single mindedness in marketing communication.

If great marketing were easy, then many more business would be very successful. To start, you need to identify who your customers are and what’s the problem your product and service is solving. Another way to view this is to ask, “What’s the pain your product or service is ameliorating?”

Knowing your target customer segments, their pain and having a great solution is not enough. You need to develop a marketing plan. An essential part of this plan is what’s the message you want to convey to your target. Beware of just focusing on product features. Successful marketing plans sell solutions. Coming up with a communication message that conveys your solution in a compelling manner, may take time and testing. Do not rush into this. When you have your message, make sure this communication message is in all your communications!

Testing is an essential part of marketing communication. You should be testing from the beginning until the end of each campaign. You test at the beginning to develop a compelling marketing message (e.g. slogan). During the campaign, test to determine what’s working and do more of that. As well as test to find out what’s not working and stop or refine that messaging. Your main job as an entrepreneur is to always work at improving the impact of your messaging.

Good marketing communication takes time. Once you thoughtfully decide what your marketing message is, stay the course while testing the impact of your communication and constantly improving your messaging.

The essential ingredients of a single-minded focus on your marketing communication are:

Knowledge – Use your knowledge of the your category, marketplace, and your solution. Always be talking with clients to ensure your marketing communication is having its desired effect.

Money – Spend as little as possible. This does not mean be cheap. This means, investigate and test different marketing avenues and measure the impact on your business. Every marketing tactic you put in place should have measurable metrics associated with it. Use metrics to do more of the marketing communication that makes you more money.

Time - Marketing communications is your most important job; spend the time to ensure you are sending out a compelling message. Always be open to learning. Listen and talk with your consumers. Plus, be mindful of what your competition is doing. Use your time to ensure you are getting your monies worth and getting a profitable return for your marketing investment.

Commitment – Marketing is the lifeblood of your business. You need to commit to making your marketing communications the number one focus of your business. Don’t do it because you think it is something you should do. Commit to your marketing campaign because it is something you must do! When you start a campaign, stick to it. Have a restless discontent with the status quo. Work at constantly testing and improving your marketing communications.

 

Good luck and remember to ‘state the course’ and give the time to let your marketing campaign make you money.

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