Wednesday, April 3, 2013

Common Advertising Mistakes


Mistake #1 - Not knowing if your advertising is working


This is by far the biggest error most small business owners make. They just throw advertising in the local paper or
on the radio and hope and pray it works. In many cases they have no idea how to track results and adjust their
advertising efforts to be more productive.

Mistake #2 - When to advertise

On your first day of business did you advertise? Chances are you had a grand opening, balloons, radio, TV,
newspapers, contests and anything else to attract customers to your business. Can you keep this kind of
advertising up all year long? Chances are you can't. So when should you advertise? Know your public and
buying there cycles

Mistake #3 - Advertising 
in the wrong place
I listen to 620 WDAE The Sports Animal. Talk radio. So if I love it I'm sure my customers love it too, so
that's where I'll advertise. Sound familiar? That logic might be right but generally it isn't. If you are
spending your advertising dollars in the wrong place suddenly your advertising is an expense not an
investment. GET THE ROI YOU NEED

Mistake #4- Not staying unique

Niche Marketing .
The tighter your niche, the better your chances of finding the customers who are looking for exactly what you've
got to sell!

Mistake #5 - How you look to your customers

Small businesses seem to throw any kind of advertising out there for customers to find. I'm sure there are
several major companies I could show you that you could recognize with just the company colors. Could
you recognize a Campbell's Soup Can without the company name? Sure you could. Customers, over time,
begin to feel comfortable with the look and feel of your advertising. That's Branding - knowing what your
business image is and how you want it portrayed

Mistake #6 - Poorly planned promotions and events

Say you wanted to have a 4th of july community retirement investment meeting. That might be a mistake
here in Tampa Bay area do to 65% are snow birds

Mistake #7 - Forgetting the folks who got you there

Many business spend so much time trying to attract new customers that they forget the loyal customers who
made them successful. I'm sure you've all heard that it takes six times as much to attract a new customer
than it does to keep an existing one.

Mistake #8 - Listening to the wrong people

When it comes to advertising everybody is willing to give you advice. And, because you feel that you know
so little, you're willing to take everything at face value. Most media salespersons are honest hardworking
people. Some, however, are just out to sell you ads. If you think you want to be somewhere they are more
than happy to sell you the time or space.

Mistake #9 - Concentration on product features instead of benefits

So many ads I see just talk about what a product has not what it does. No one ever buys a product for the
features it has. Do people buy a 1" drill bit because they want the bit? No. They buy it for the 1" hole it will
give them. That's the benefit.

1 comment: