Saturday, July 30, 2011

Simple Marketing Mistakes That Cost You Money

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Simple Marketing Mistakes That Cost You Money
By Jessah T Lopez

Many companies, either big or small industries, lose substantial amounts of money because they do not employ the right and effective marketing strategies. Because when it comes to promotions, doing everything does not always result to great investment returns. However, a small number of concrete and well-thought out marketing strategies is better than trying to do everything all at once. Here are the common mistakes that countless companies do which cost them valuable money.

Not Giving People What They Want

You notice that in almost every trade-show, people leave with tons of promotional products. But how many of those pens, lanyard, calculators, and t-shirts will be used and not thrown out or kept in storage? More often than not, people will disregard most of the free items that they get as no one really needs twenty pens or pencils. To make sure that people really remember your company, focus on giving them what they truly need. To be more specific, get to know your customers. If they are mostly male who own or drive cars, then for sure they will appreciate roadside kits. One clever trick is to actually send out some promotional goodies to your customers right before a major trade-show so that when the event is there, they will find where your booth is as you already have captured their interest.

Skimping Out

Skimp out on quality and you will find that people will lose interest in your. It is similar with websites and promotional merchandise, the less attractive, fun or creative they are the more that you will find that people's attention will go to some other company instead. So develop your company's website and if you can, make it interactive yet still easy to use so that customers will keep you in their mind longer. Just the same, do not just give out standard notepad, shopping bags and key rings. Customize your corporate give-aways so that your name and logo can be clearly seen by many people. Packaging is key as well so take time to design your marketing collateral's so that they all look professional and well-made.

Not Monitoring Progress or Following-Up

Now, many corporations think that after the first initial contact, the customers will already know about them. That is a misconception. Consumers are always bombarded by a hundred other adverts and commercials from your competitors. So after giving out your promotional items in a trade-show, get the people's contact information so you can do a follow-up after the event. Make an email or even direct mailing list for your customers so that you can keep in touch with them. Also, monitor the progress of your efforts and see where you got the most return and new business. By doing that, you can focus on the strategies that gave you success and on which ones did not really give you return of investment.

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