While there are many steps you can take when creating a marketing plan, there’s something you need to know: one mistake may be all it takes to ruin all that hard work.
However, if you are aware of the most common marketing mistakes and how to avoid them, perhaps you can save yourself from experiencing them. Here are several startup marketing mistakes you can’t afford to make:
1. Playing it by Ear
Some startup founders have so much on their plate that they don’t have the time (or they don’t think they have the time) to create a sound marketing strategy.
Instead, you need to have a detailed marketing plan in place from day one. This will keep you on track It will also save you from other types of mistakes that can cost you time and money you don’t have or want to give away.
2. Doing it All Yourself
Even if you are on a tight budget, you should look for creative ways to obtain assistance with the marketing side of your business.
You could hire a social media strategist, a blogger, or a digital PR specialist. All of these people – among many others – can help you reach your marketing related goals, while also eliminating some stress from your life.
There is a lot of help out there. You just have to find the right people. Ask other business people for people they know. Or, you can use some of the many online freelance sites that offer a wide array of verified experts in their field. Numerous talented individuals are waiting to help you with your marketing needs.
3. Spending Just to Spend
Are you the type of person who believes that the more you spend on marketing, the more results you’ll achieve? You don’t want to go down this path. It could lead you to an empty bank account with nothing to show for it in return.
You shouldn’t spend a single dime until you examine your strategy, set goals, and have an idea of what you want to accomplish. There is no guarantee of a positive return on investment (ROI). That’s why you need to verify everything that you are considering to spend to see if it can get you results.
4. Neglecting to Track Results
It’s one thing to spend time and money on your marketing plan, but it’s another thing entirely to track the results related to those efforts.
You need to know what’s working, what’s not, and what changes will position your startup for future success.
There are many ways to track results, including both manual processes and advanced marketing tools.
David Stryzewski, CEO of SPG Advisors, shares his practice marketing experience and suggests using as many tools as necessary to efficiently track results. This will provide a way to get a detailed picture that guides how you adapt your marketing plan, adding new tactics and altering messaging to achieve your objectives.
Additionally, using marketing analytics can help you see how what you spent led directly to your goals of leads, traffic, clicks, conversions or followers.
These are just a few of the many marketing mistakes you need to avoid while launching a startup. Don’t forget to stay current with the news, as you never know when you’ll come across something that you can apply to your startup that will add efficiencies, reduce costs, or help shape how you approach your target audience.