Dec 18, 2010
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Small business is a constant battle for business owners and managers as they need to wear all of the hats of a bigger business with less people. A trusted author and small business consultant David Frey reminded me of the 6 deadliest marketing mistakes that small businesses make year in and year out. There are lots of authors who have talked about the most deadly mistakes in small business, but this may be the most concise version that makes sense to nearly any small business. Here they are:
1. Not Having a Marketing Plan
Statistics from a Harvard study showed that only 3% of all small businesses grow to become large corporations.
The one common element with those 3% of businesses was that they had a written marketing plan that they actively followed.
2. Not Differentiating Your Business
In the world of small business, you don’t have to be good, you just have to be different.
Small businesses that create a wildly different, exciting, unexpected and unusual experience are those that become extremely successful.
Those small businesses that provide the same ole, same ole, experience, get the same ole, same ole results.
3. Not Having Referral Programs
The undisputed #1 marketing strategy for small businesses is, you guessed it, referral marketing.
Successful small businesses don’t rely on word-of-mouth, they implement systematic processes that drive referrals.
4. Not Marketing to Your Customers
The biggest asset in ANY business is the customer list. Successful small businesses realize this and instead of pouring all their marketing dollars into lead generation, they set aside money to market to their existing customers.
Marketing to your customers results
in… Bigger orders, More frequent purchases, More referrals
5. Not Targeting a Customer Group
There’s an old saying that goes, “If everyone is your prospect, then no one will be your customer.”
The fastest way to ramp up sales is to pick one target market and concentrate all your marketing muscle to penetrating that group of buyers.
When you do this, your marketing produces more results with less investment.
6. Not Realizing What Business You’re In
This is the “Emyth Syndrome.” Too many businesses owners fail to realize this one simple fact, MARKETING is what drives your business.
So instead of getting mired down in the delivery of products and services, you should be focusing on getting more customers.
As Michael Gerber says, “Focus ON your business rather than IN your business!”
Small Business Web Design
Your website will need to reflect these principles and the marketing strategy that you implement. Innovation Simple focuses solely on small business web design.