But what is marketing, really?? – PART 2

Before you can fully understand your marketing shortcomings, you first need a basic understanding of what marketing is.

Marketing is not advertising.   

That is the single biggest misconception small business owners make.

Marketing is a big bubble that covers a lot of areas and advertising is just one of those – although, to be fair, they all seem pretty closely related so the misunderstanding is easy to realise. 

Understanding this should prevent you from making the same mistake that many others do – thinking that a bit of advertising has the whole marketing campaign covered.

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Let’s have a look at some common marketing mistakes: 

5.  BEING SCARED OF SOCIAL MEDIA
Social media has quickly become one of the most affordable and effective marketing techniques for small business owners.

The trick to using social media to promote your business, however, is twofold:

  1. You need to understand the platform – throwing ads at them with no substance won’t win you any business, in fact, it could hurt your brand image quite substantially.
  2. Knowing who is on the network and where you find them. A general business group for example could be a great way to promote your new restaurant but a lawyer or doctor spraying ads will just look a little desperate, not a quality you want in those professions. Instead, they could use, Facebook, for example, to share tips and offer basic advice, therefore, gaining exposure along with credibility.

6.  FAILING TO EARN REPEAT CUSTOMERS
Generally, in business, 80% of sales and profits can come from existing customers, while the other 20% can come from new customers buying for the first time.
If you are failing to retarget your current customer base, to get them to buy again; it could be putting a significant dent in your profits. Selling to a new customer is five times more expensive than selling to an existing customer, so you need to designate a few of your marketing campaigns toward your existing customer base to get a repeat sale.

For example; wishing them on their birthday, sending them your specials, checking up on how their purchase is working out, or offering repeat business incentives. Get creative, try to make these customers part of your business family and they will treat you well.

7.  NOT TRACKING PERFORMANCE AND ADAPTING
Modern technology has made it easier than ever to keep track of your customers’ behaviour and use it to your advantage.  Unfortunately, many businesses use this data to craft marketing campaigns they believe will perform well, but then they fail to track the performance to identify areas for improvement

Before doing any advertising, be sure to set goals so that you always have an idea of how your campaign is performing. For example; you place an ad in the paper with the goal and message to call for a free quote…the ad is published but you get no phone calls…why?…was the message not clear? was the paper the wrong medium? was the advert too small? were the targeted demographics completely wrong for your business? You simply work out what went wrong, adapt, and try again.

In the same way as life and businesses change over the years, so does the way you need to do marketing.

I hope that you feel a little more educated and a little more confident about marketing.

I will leave you with one last message…remember that every communication you, your service, your staff or your product have with a potential client, is marketing. Therefore make sure that your goals, your plan, and your USP are clear. Then implement it everywhere and in every aspect of your business.

For any marketing advice, contact us today, let’s sit down and work out what your business needs to market itself well.

Drop us an email at sales@righthand.co.za, send us a WhatsApp on 072 229 9406, or give us a call on 082 219 9703.

In case you missed it, go back to check out Part 1!

 

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