Small businesses are the building blocks to our local communities.
Colorado’s Western Slope is booming with local entrepreneurs, and that’s good for the community. While small businesses may not be as profitable as the large corporations, they stimulate economic growth by producing employment opportunities and a steady tax revenue for the community. So why do so many small enterprises flop? Out of the 20% of the small businesses that fail in one year, 14% is attributed to poor marketing strategies. Below are five common mishaps that small businesses commit.
1. Viewing marketing as an expense, rather than an investment
When you build a business, you’re building for the future. Many entrepreneurs view digital marketing as a superficial expense, because you don’t have a tangible product in return. We argue that digital marketing and graphic design becomes the investment that adds value to your enterprise, and ultimately provides growth to your company. Think of it as you planting the seeds, and we water and nurture them in order for the plants to blossom. Take our Search Engine Optimization (SEO) feature for online platforms. This marketing method can be considered as a permanent asset, for it provides a long-term digital presence which gains more consumer traffic.
2. Not having a goal
Let’s face it: Marketing goals may not be your highest priority. However, running a business without a marketing plan is like driving with a blindfold, you’ll never reach your intended destination and you could cause irreparable harm on your company. That’s why we offer free consultations. We will analyze your target audience, determine your greatest need, and develop a program that works best for your business. Finding the right marketing company allows you to focus on what’s really important, the people that work for, and consume, your business. We’re confident that our customized approach will compliment your unique needs.
3. Lack of online presence
Being an entrepreneur can be very rewarding, but it can also pull you in many directions at once. When you are managing a plethora of variables at work, such as the dynamics of the company and the people within it, you don’t have time to update your digital marketing components. Even the most successful proprietors know when to pass the baton. The majority of today’s consumers shop online for either goods or information.
Without customers, your chances of survival are slim.
You may be tech savvy enough to stay on top of your communications. However, with the day-to-day tasks that require your undivided attention, some of your marketing campaigns might fall to the wayside. Inconsistency can be just as detrimental to your company as no presence at all. Studies have shown us that a consistent, unified voice gets the message across. Let us be the voice behind your website, social media accounts, and emails.
4. Trying to target everyone
Quantity is not always quality. The run-of-the-mill marketing company may aim to cast a wide net, yet information tells us that obtaining too broad of a target, or even the wrong market, can be a waste in resources. Instead, it’s important to narrow your target audience and locate the right network. Consumers are more informed than ever today (thanks to the internet), and with optimization options, they will likely find you!
Once you’ve targeted your audience, let the power of word of mouth work in your favor. You’ll see more results when you start with the micro and move to the macro, then vice versa. All this circles back to the having a marketing goal. Part of our services include consultation and analyzing target audiences, so you can maximize the outreach of your message.
5. Ignoring marketing metrics
Let’s say that you’ve updated your site and posted to your feed, but then you walk away. Big mistake. If you’re not tracking the results, then you can’t be sure it’s working. Using data to drive your marketing campaign provides a quantitative evaluation of your investment. This feedback can be used for identifying content that is successful, or it can be used to improve your outreach. Unfortunately, most small business owners to do not have the time to reference this data on their own.
When you hire BPetersonDesign, we construct valuable and relevant content that promotes long-term, sustainable growth for your company. We employ content-focused marketing and SEO operations, methods that significantly boost your online productivity. We’d love to help you get started.
Want to know more?
We’re confident that we can create a relevant and enjoyable digital marketing experience for your company. Drop us a line to schedule an appointment, and let’s begin designing your future today.
Griffith, E. (2014, September 25). Why startups fail, according to their founders. Retrieved June 22, 2018, from http://fortune.com/2014/09/25/why-startups-fail-according-to-their-founders/