Starting a new small or medium-sized enterprise (SME) is an exciting time. However, with so much to think about, it’s easy to make mistakes when it comes to marketing your new business. Avoid the following 11 common marketing mistakes in your first year and give your SME the best chance of success.
Not Having a Marketing Plan
Having a solid marketing plan is essential for any new business. Without a plan, your marketing efforts can seem disjointed and ineffective. Take the time to think through your marketing objectives, strategies, and tactics for the first 12 months. Outline the specific actions you will take each month to raise awareness of your brand and acquire new customers. Set monthly budgets for each activity and have measurable goals to track performance. Revisit and adjust your plan regularly based on results. Don’t just set it and forget it!
Focusing on the Wrong Marketing Channels
With so many marketing channels available today, it’s vital to focus your limited resources on the channels that will deliver the best return for your business. Avoid wasting time and money on channels that don’t reach your target audience. Thoroughly research where your ideal customers spend their time online and offline. Focus on just one or two primary channels first before considering expanding your efforts. Continually evaluate performance and double down on what works.
Neglecting Your Website
Your website is often the first touchpoint between you and potential new customers. An outdated, hard-to-navigate website with little useful content acts as a major barrier to conversion. Invest time and money into creating a user-friendly, visually appealing website optimized for conversions. Include useful content like blogs, FAQs, guides, and videos to attract and assist potential customers. Make calls-to-action and contact information obvious. Ensure your website works seamlessly on all devices and make sure navigation and checkout (if appropriate) are easy.
Overlooking SEO
If people can’t find your website online, you miss out on valuable organic traffic and brand awareness. Make search engine optimization (SEO) a top priority from day one. Research relevant keywords and intentionally include them on pages and in content. Create and share quality blog posts, videos, and other content regularly. Get backlinks from industry websites. Claim all applicable local listings and directories. SEO takes time to yield results, so the earlier you start, the better. While it will take time and ongoing effort, this is one of the cheapest ways to sustain long-term results.
Avoiding Social Media
Social media provides an essential platform for new brands to cost-effectively build awareness and engage with their audience. Yet many SMEs avoid it altogether or only use social media to broadcast promotions.
Develop company profiles on relevant social platforms and post high-quality content regularly to grow your following. Share valuable information, and behind-the-scenes info, and respond to comments and questions. Run occasional contests and giveaways. Use ads to reach more potential customers. The more you connect with people, the quicker your business will grow.
Not Building Email Lists
Email marketing has the potential to generate a high return on investment, but only if you have an email list to start with. Make it extremely easy for people to subscribe to your email list directly via your website and social media profiles. Offer an irresistible incentive like an ebook, discount, or access to exclusive content in exchange for their email address. Send regular email newsletters that provide helpful information rather than aggressive sales pitches.
Overlooking Paid Ads
While organic reach is ideal, paid advertising allows you to get your message in front of your target demographics quickly. Take time to dial in your target audience and test cost-effective ads on platforms like Facebook, Instagram, Google, and LinkedIn. Start with a small daily budget and monitor performance closely to gauge results, then expand your budget accordingly. The most effective paid ads combine highly relevant targeting, compelling messaging, and strong calls-to-action. Give paid ads time to optimize.
Ignoring Assessments
Positive online reviews can greatly boost conversion rates by establishing credibility and trust in your unknown brand. Proactively ask satisfied customers to leave honest reviews on platforms like Google, Facebook, and industry-specific sites shortly after purchase.
Respond professionally to any negative reviews to show you care. Consistently provide great products, services, and customer support, and the positive reviews will come organically over time.
Not Tracking Metrics
Tracking key marketing metrics is crucial to understanding what’s working so you can double down on effective strategies. Monitor metrics like website traffic, social media reach and engagement, email open and click rates, lead generation, and sales conversions. Use free tools like Google Analytics, Facebook Insights, and Mailchimp reports to track results. Analyze and review metrics at least once a month to gain insights. Make data-driven decisions to optimize your approach.
Forgetting About Customer Service
Providing exceptional customer service keeps customers coming back for repeat purchases and improves word-of-mouth promotion. Respond quickly to all customer queries and issues. Follow up on purchases to ensure satisfaction. Make it very easy for customers to find your contact information to reach out with questions. Wow customers by sending handwritten thank you notes or surprise discounts after purchases. Delivering phenomenal service costs little but boosts brand affinity and sales.
Not Defining Your Brand Story and Messaging
Failing to define your brand story and create consistent messaging often leads to a disjointed customer experience. Take time early on to craft your origin story, mission, values, and brand personality. Make sure all marketing materials and customer touchpoints reflect that unified messaging so customers know what you stand for.
Avoiding these common mistakes will help your SME stay on track with marketing in the crucial first year. Get your brand in front of the right people, provide value through content, track results closely, and keep optimizing your efforts. With consistent effort and a thoughtful approach, effective marketing fuels sustainable growth and helps make that critical first year a resounding success.
