Tuesday, December 16, 2008 5 Small Business Marketing Mistakes to Avoid Small business owners can have a hard time finding the right ways to market their product or service. There are plenty of right ways to do things, and plenty of wrong ways. Here is a brief overview of some of the mistakes to avoid when marketing your small business: Mistake #1: Not researching your product need Conduct market research, hold focus groups and only make a small run of your product - a few hundred or so - to test your target market with. This can save you a lot of money and heartache in the long run. Mistake #2: Thinking that the product will market itself You must consistently market your product, which means you need to create a marketing plan. You must define your target market, your unique selling point that distinguishes you from your competition; you must develop a marketing action plan and decide on a marketing budget. These are just the bare-bones basics of a marketing plan. You need some kind of plan to be successful. If you don't know how to create a marketing plan, just Google "marketing plan" or "marketing agency" - many agencies are hired to just create marketing plans. Mistake #3: Preparing and then not taking action Mistake #4: Constantly changing your marketing campaign Mistake #5: Don't play monkey-see, monkey-do with your competitors If a competitor is known as a "low price leader," don't try to beat him out of that title - choose another like "high quality leader." Find an important quality that your competitors aren't giving to your shared target. Labels: Business Marketing, Marketing Mistakes, Small business
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