Top Business Marketing Money Wasters for Brands
Some of the top business marketing money wasters in the eCommerce niche have crippled many businesses around the world.
If you want to avoid these top business marketing money wasters, you should continue reading. Many businesses find themselves trapped because they wasted money prematurely.
Businesses have flushed down thousands of dollars on crazy marketing projects that never yielded profit or result.
Here is what we have learned from many businesses over the years because of top business marketing money wasters.
Top business marketing money wasters to know
The following are top business marketing money wasters that you should avoid:
Starting with Logos and Branding
How do you handle your logs and branding? If you end up with the wrong branding and logo, your business might not be taken seriously.
Your customers should know that what they ordered from you is safe and secure.
That means you have to use logos and branding relevant to your brand.
You cannot be in a shipping niche and use a sports logo or branding. You should know that creating a logo and branding first is not important.
Do not believe that without your logo, you would not have your business running. Why spend the little you have to hire someone to create them for you.
As you grow your business online, so must your branding and logo. Do not waste money on something you can do better in the future.
This falls under our top business marketing money wasters list. The first thing you should think of is what your business stands to offer its customers.
The second thing is to look at your competitors’ logos and create something unique.
Building a Website Right Away
One of the top business marketing money wasters, many businesses fall victim to building their websites right away.
Do not believe that when you build a website, your customers will come running to you. The website should not be the end of the road for your business.
Your customers might not stumble upon your website by mistake. You have to create a strategy that will convert leads and attract traffic to your site.
Concentration on a website without a business strategy is among the top business marketing money wasters to avoid.
With a website and strategy, it would be easier to drag customers to your site.
Using A One-Size-Fits-All Social Media Strategy
Top business marketing money wasters include making use of a one-size-fits-all social media strategy. You should have strategies that should help you get results from your social marketing.
You do not have to use the same strategy across multiple social platforms. Each platform has its uniqueness.
The top business marketing money wasters online
The following top business marketing money wasters can cost a business owner more money than necessary.
Blindly Placing Pay-Per-Click Ads
The simplicity of interfaces like Facebook ads and Google Adwords should not make you forget the most vital things about ads.
Blindly placing pay-per-click ads is among the top business marketing money wasters that you should avoid.
You should not be lured by the easy to use of ads because they would not bring sales to your business. PPC ads should be learned and strategized to help your business grow.
Every ad has at least five parts that include the subtext, header language, targeting, and imagery. Do not waste your money on ads if you have no idea how it works.
Even if you have an idea, ensure you know everything about running a successful ad.
Siloing Sales and Marketing
For small businesses, they can make use of separate marketing and sales.
You should understand that you need to follow up with your customers.
80 percent of most business sales are made after the fifth follow-up, while 10 percent of salespeople ever reach out five or more times.
Not Knowing When to Quit
One of the top business marketing money wasters is not knowing when you should stop. You have to know when you should stop a campaign.
When you know when to quit a campaign or promotion, it saves you money and time. Business is designed for profit.
If you are not making a profit, find out how to do things better.
