Promoting a product or service can be one of the most challenging (and confusing) tasks within the world of online marketing. This is perhaps the reason why there is an entire profession intended to bridge the gap between fantasy and reality.
Many businesses will employ these experts if they hope to successfully reach their intended target demographic and yet, such an expense can quickly drain a limited budget. Many start-up firms instead choose to take on the role of a self-made marketer and they are naturally prone to make mistakes. If you hope to avoid such a situation, it is a good idea to identify some of the most prominent blunders before examining a handful of tried-and-true methods to promote your unique product.
The Top Marketing Errors
The first major error to avoid involves believing that you can target everyone at once. This type of “blanketed” marketing campaign is much less effective when compared to choosing a particular demographic and focusing your efforts around their needs. Bulk promotions will often appeal to only a select percentage; causing you to waste valuable time and resources.
Failing to use multiple marketing channels is another mistake made by many enterprise-level organizations. Promoting a product or service with one method alone (such as on a single website) will not enjoy nearly as much exposure as if you were to advertise on social media pages, blogs and third-party sales platforms (such as Amazon or eBay). This concept is known as multi-channel marketing and it should always be taken very seriously.
Believe it or not, it might be a mistake to lower the prices of your products to rock-bottom levels if you hope to turn a profit. There are two main reasons behind this surprising observation:
- Your return on revenue (ROI) will be much lower.
- Very cheap prices could detract from the perceived quality of your product.
Let us consider the second point for a
moment. Items which are associated with ridiculously low prices will often
cause potential shoppers to wonder why they are being presented at such a
discount. Is there something wrong or do they contain defects? Is the company
desperate to make a sale and if so, what does this say about their business
acumen? It is much better to compare and contrast the prices of your closest
competitors. You will then be able to encounter a happy fiscal medium while
still appealing to your intended audience.
Now that we have briefly examined three marketing blunders, let’s conclude by taking a look at some excellent suggestions if you hope to take your sales and promotions to the next level.
More Than Promotions Alone
The first concept to realize is that effective promotions involve far more than simply advertising your firm to the customer. On the contrary, you will need to appreciate which services and concepts resonate with their needs. This involves analyzing factors such as past purchasing history, the average amount spent, how often purchases take place and even which types of devices are being used to access your portal. Sometimes referred to as “big data“, this information will provide you with the clarity required to make the most informed marketing choices.
Also, take a look at which traits are the most important to your clients. Are they hoping to save as much money as possible or are they instead interested in finding top-quality products? Assuming that you are catering to a niche community (such as those who are interested in high-end furniture), cost should represent much less of a concern. Should you instead hope to appeal to college students who are governed by limited budgets, price will definitely play an important role within your ongoing marketing campaigns.
Finally, take a look at alternative marketing-related services such as drop shipping. Not only will this and other methods be able to save you a great deal of time in terms of logistics, but the products themselves can often be purchased at bulk discount rates. In turn, these savings will be passed on to the end user; an excellent way to build a reputation as an efficient company over time. Online providers such as Oberlo specialize in these services and it is a good idea to examine the associated options in greater detail.
The first step in avoiding a trap is becoming aware of its existence and this maxim is just as true when referring to online promotions. To be sure, errors will inevitably be made along the way. The sign of a talented marketing professional is the ability to rise above and beyond such pitfalls. Please keep in mind all of the suggestions mentioned within this article and feel free to refer back in the future if you require a bit of extra guidance or inspiration.