Starting a business isn’t easy, especially when you consider that the majority of businesses fail within the first couple of years. These businesses generally fail due to poor management and poor marketing resulting in a lack of orders and poor cash flow. If you don’t market sufficiently well to find an audience you simply can’t sell your products and services.
Here are five common marketing mistakes to avoid if you want to give your business the best possible chance of long-term survival.
Not Choosing a Target Audience
So many otherwise rational people want to sell their products and services to everyone. If you ask them who their target market is, they will answer with something like “anyone that can afford them” or “everyone.” In fact I’ve had some heated discussions on this as some people just will not accept that this isn’t good enough and doesn’t work from a marketing perspective. You must know exactly who your audience is, so much so that you can create a buyer persona of your ideal customer. Narrow down your audience so that you can target your buyer personas with your advertising campaigns.
