Home | Contact | Advertising
Small Business, Information, Resources, Articles - SmartBiz.com
Members Login:
Sign Up Forgot?
SALES & MARKETING
Marketing Online
Email Marketing
Search Marketing
Selling
PR
ONLINE BUSINESS
E-Commerce
Website Creation
Productivity
Accounting
CRM
Web-based Software/SaaS
BUSINESS STRATEGIES
Case Studies
Smart Answers
Videos
Podcasts
Smart Blog
Human Resources
Management
BITS & BYTES
PCs & Online Equipment
Mobile Computing
Security/Business Continuity
Telecom/Office Networks
Small Business Products
FORUMS & RESOURCES
Free White Papers
Tools and Calculators
SmartBiz Forum
Legal & Business Forms
News Feeds
Featured Webcasts & Videos
Franchise Offers


 
SMALL BUSINESS AND STARTUPS INTERNET TECHNOLOGY RESOURCES
Search SmartBiz:
Forms and
Downloads
Free
White Papers
Special
Offers
SmartBiz
Blog
Free Email
Newsletters
Selling
The Five Marketing Mistakes Entrepreneurs Make (and How to Avoid Them)
Email ArticleEmail Article
Print ArticlePrint Article
Increase Text SizeIncrease Text Size
Decrease Text SizeDecrease Text Size
Del.icio.us
Digg This
Bookmark and Share

By Kevin Epstein

Every marketer makes mistakes. As an entrepreneur with a limited budget, and only a few chances to make your business a success, the goal is simply to avoid making too many.

The five marketing mistakes every entrepreneur is tempted to make are:
• Betting On the Big Event: Gambling Instead Of Planning
• Depending on Others / Outsourcing the Wrong Things
• Marketing Nonexistent Product
• Failing to Measure
• Adding Complexity

The good news is that you don’t need to learn from your mistakes – you can learn from other people’s mistakes, saving yourself trouble. Here’s how.

Betting On the Big Event: Gambling Instead Of Planning: The first mistake many marketers make is to spend all their marketing dollars in one place without calculating the odds of success first.

Attending a trade show, local fair, or even taking the time to attend local business events can be prohibitively expensive. If the event doesn’t generate the expected associated volume of sales, you may soon have no company to market.

So be sure you plan, not gamble.

• Always do the math on expected costs and resultant sales, underestimating sales when you plan. Remember this equation: your profit = [# of potential leads] x [likelihood of making sale] x [size of sale] – [total costs of attending event]

• Equip yourself to make the most of the event. Put yourself in the customers’ shoes – why should they stop by your table or chat with you? What will they see or hear? What will you talk to them about? What will they leave with? Why should they give you a business card? Answer those questions and come prepared.

• Shop around, and understand whether your money could be better spent. Given the profit equation above. Is there another way you could get as much in sales for less money?

Depending on Others / Outsourcing the Wrong Things: The second mistake many marketers make is to make their business’ success or failure depend on your hired consultant’s success or failure.

Many entrepreneurs forget that if the consultant they hired fails to perform a critical task, it’s not only the consultant who fails.

So keep the critical things under control, and be sure of your help:

• Check references. Call people and ask about your consultant’s reliability and quality. Ask to see their prior work. Ask for situations where they failed. Be thorough.

• Communicate and align expectations. Have a written agreement on costs, timelines, ownership of final results, and what those results will look like.

• Have a backup plan. What happens when the consultant doesn’t deliver?

| 1 | 2 | Next page »
Kevin Epstein runs Stupid Marketing.
Add a Comment View Comments
Small Business Home

SmartBiz Shop
Promotional Items with Your logo
 
     
 
Smart Services
Spacer
Spacer
Spacer
Spacer
Add Your Logo Now
Spacer
Get Your Business Online
Build a Website Host Your Website Market Your Business Online
Business Form Downloads
Legal Forms Business Forms
Smart Forums
Recent Postings
Stimulus or "Pork"ulus?
Blog: How Do You Know What Insurance Is Right for Your Business?
If Layoffs Are Necessary, Protect Your Business
Blog - Do You Have Email and Internet Usage Policies in Place?
MORE
Home | Contact | Advertising
© 2017-2019 SmartBiz. All rights reserved. Privacy Statement and Terms of Service
Small Business Home | Business Tools | Online Business | Bits & Bytes | Sales & Marketing | Business Strategies | Forums & Resources
Email Marketing & HTML Email Driven By: Hosted By:   Design By:
Email Marketing
 
XML LogoRSS Logo
Receive our stories via SmartBiz XML/RSS feeds.
Include our stories on your website through SmartBiz javascript content feeds.