Flaws are part of human nature and making mistakes are necessary. Mistakes allow us to learn and prevent future errors.
But what if you are a repeat offender? I don’t mean just once; I mean over and over and over.
If you are, it’s time to take stock and course correct.
You could be sinking your business.
I know we all want to succeed. Nobody starts a business to fail.
But over the years I have seen a pattern of marketing mistakes that could potentially be fatal to your small businesses.
Here they are:
Fatal Mistake #1: Relaxing In the Comfort Zone
The Comfort Zone happens to be the most dangerous place in your business. I won’t get ‘preachy’, neither will I elaborate too much. I will only share these 3 words:
- Netflix
- AirBnB
- Uber
Each of these industries were disrupted and caught off guard. They got really comfortable.
Relax to your detriment.
Fatal Mistake #2: Placing the Spotlight on you and not your customers
We are not in business to serve ourselves. We are in business to serve those who buy from us – now or in the future. Humans care about themselves first.
It’s usually ‘what’s in it for me’. They think about the immediate value that can be gained when they choose you.
Every conversation – every touch point – whether on your website – your social – your chat- your ads – your 1:1s –must always come back to your customers.
They really don’t care too much about you or your awards. They care about what you can do for them.
Fatal Mistake #3 – Not knowing what piques their interests
When a client engages my services, he typically does so to grow his top line – no matter how you slice it or dice it. The issues is always the same – how can you help me get more money in my bank account. While the challenge maybe finding more leads or developing a growth plan or scaling a marketing initiative – it usually leads back to improving sales and revenues.
It’s very important that you are clear on what piques the interest of your clients and prospects. You ought to know what will earn their attention.
Mistake #4: Not playing for the long game
I admit, it’s easier to play for the short game. It doesn’t require as much discipline or investment of time and financial resources.
‘Cheap and cheerful’. ‘Quick and dirty’.
Pretty tempting – especially in this era of instant gratification.
We want it and we want it now!
“How quickly before I get more leads?” “How soon will I lose the weight?”.
While quick wins are important, a disciplined long game strategy reaps the largest reward.
Fatal Mistake #5: Ignoring technology to create quantum leaps
Have you every thought to yourself that this technology stuff, just won’t work in your traditional industry. I understand why it’s easy to go down that road.
But it’s time to think again.
It’s unfolding before our very eyes; traditional industries being turned upside down. I predict that sooner rather than later, yours will be disrupted too.
What can be more traditional than law?
Enters Casetext. A start-up that developed a software using artificial intelligence (AI) to read briefs and suggest relevant past cases in seconds.
Seconds! Not minutes.
Just imagine the potential to save hours of tedious legal research and increase efficiency – especially if you are a small law firm going head to head with a large one.
To ignore, dismiss or delay the role of technology to transform your business is like denying the existence of the internet.
Fatal Mistake #6: Failing to be a Purple Cow
“In a crowded marketplace, fitting in is a failure. In a busy marketplace, not standing out is the same as being invisible.” —Seth Godin
I couldn’t agree more, Mr. Godin!
And we are in a very crowded marketplace vying for the attention of our prospects and customers.
Do you realize that attention is our most valuable asset? It’s why we write blogs, go live, participate on social media, network, ask for referrals, run ads, host events – we want to be noticed.
Attention has a monetary value.
So unless we are remarkable or memorable or stand out – we’ll become like everyone else – drowned out by the noise – slipping away little by little – until we fade and are forgotten.
Fatal Mistake #7: Not tracking your data
Arguable one of the most important quotes in business: “If you can’t measure it, you can’t improve it”. – Peter Drucker
Yet, many small business owners operate using guesswork.
A hunch.
A gut feeling.
How do you know when one marketing initiative is working and the other one isn’t: How can you tell when you hit your goals? How do you know which campaign to kill and which to throw more money behind? How do you know if there is no structure in place to track, measure and improve?
These days, there is no excuse for guesswork as many tools abound to help measure and manage.
Data helps you make better decisions.
Better decisions lead to better outcomes.
So, which are you guilty of?
