Entrepreneur Do You Constantly Make These Three All Too Common Marketing Mistakes?
Obviously if you run a business or service. It’s not “if” you and I are ultimately going to make mistakes, right? It’s definitely when, agreed? But there’s a major difference between making and mistake. And simply not being aware you’re completely off course.
This particular blog post is going to focus on three all too common marketing mistakes. You constantly see business owners, (especially small ones!) and or some service providers doing too.
And sadly you can even begin to calculate “how” much long term front or back end revenue they’ve lost as direct result of constantly making these three all too common marketing mistakes. Going forward this no longer has to be the case.
These Incredibly Simple Customer Retention Tips Should Be Or Quickly Become Main Stays In Your Marketing Tool Kit!
This first all too common marketing mistake you constantly see (for some strange reason!) on Linkedin. Far more than you see it being made on practically any of the major social media platforms.
Which is sort of odd. Because Linked in by far, is the # one business related platform currently located on the planet. Latest stats reveal 41% of all millionaires are active on Linkedin. Say what? (Truth told I’m not totally sure if the stat refers to worldwide or just within the US.)
And about 55% of all the adults in US alone with at least four year college degrees are also currently active on Linkedin. So perhaps you can explain the following all too common marketing mistake.
Entrepreneur take a close look at the following two Linkedin banners. The first one belongs to mega best selling and Internationally known author Tony Robbins.
Entrepreneur Do You Constantly Make These Three All Too Common Marketing Mistakes?
First of all “Tony’s” Linkedin banner is a working asset and resource for furthering his multi billion dollar Internationally recognized brand. However take a look at real life case study example # two taken directly from Linkedin as well. Only the banner owners face and real world profile details are greyed out.
Entrepreneur Do You Constantly Make These Three All Too Common Marketing Mistakes?
Entrepreneur are you looking at this actual (real life) profile of someone on of all places Linkedin. And their education “Harvard Extension School.” But the main point being the banner is completely blank. Say what? That major piece of prime cyber real estate on the # one business related platform currently on the planet.
(And I’m sad to report this is an all too common marketing mistake. If you’re serious about systematically growing your business or service via Linkedin. You’re better avoid at all costs going down this particular road.
(Honestly!) can you imagine any profit seeking entrepreneur paying for 5,000 or 10,000 business or index cards which are completely blank on one or both sides. Huh? This all too common marketing mistake is pretty much the same thing.
Entrepreneur There Are Some Marketing Or Promotional Strategies You Simply Have To Stay Clear of!
Moving right along. The second all too common marketing mistake is this. You or your major competitors are not only failing miserably to strategically build your own offline or online opt in email or text message subscriber base.
But you’re also constantly missing out on additional long term income from leveraging the potential of your subscriber base. Say what? (Think about the previously untapped marketing possibilities for just a second.)
Let’s say you run an extremely popular local, single location retail appliance center of some kind. And unlike a staggering 90% of your major local competitors. You’ve been running a very popular monthly free drawing. Giving away a free state of the art master home entertainment system. Even though it usually retails for $5,500 dollars.
Truth told your actual hard cost is only $2,500 dollars. So even over the course of an entire. Your annual promotional costs for this particular promotion is only just north of $30,000 dollars annually. Say what? ($2,500 x 12 months = $30,000 dollars gross per year.)
Entrepreneur There Is Definitely A Major Difference Between Spending Money And Investing It!
Where as you used to spend, (more like waste!) a staggering $25,000 dollars a month on that outrageously expensive, dismally performing local billboard ad campaign. Which annually cost you or your major competitors at least $300,000 dollars a year. ($25,000 x 12 = $300,000 dollars annually.)
And that’s if they don’t raise the monthly cost each year. But over the last three years as a direct result of this incredibly popular free drawing, (power list building 101) strategy. The retail appliance center owner(s) now have the their very own opt in email list of 6,573 subscribers. And this is after 17% of them have (for whatever reasons) unsubscribed.
Now then. The extremely marketing savvy retail appliance center could offer to “help” other local non directly competing vendors systematically build their business for literally pennies on the dollar. Say what?
They could offer to periodically send their opt in subscribers, extremely time sensitive, (vendor approved) gift certificates. Where his subscribers save X% off if they go to either: And go alone.
A.) The local barbecue place.
B.) A popular, non franchised local retail furniture store.
C.) A popular local, non franchised retail jewelry store.
D.) A popular, non franchised local Mom & pop bakery owner.
However, simply for dragging a friend with them whose at least 18. Before the 10-14 day expiration window expires. They automatically save X plus percent off.
And While You’re At It Entrepreneur You Definitely Have To Stop Doing This! (Or Else Your Entrepreneurial Titanic Is Headed Towards A Major Iceberg!))
And here’s your 3rd all too Right now some type of social media marketing strategy is currently all the rage. Is it it not? No doubt. And it seems like every few months or at least within any 12 month period. Get what? There’s yet another brand new. And supposedly even more “must be a part of” social media platform.
You and I are told by your favorite guru or guruette. We simply have to sign up for right? And as a direct result. You or your major competitors now have over 210,000 followers on twitter alone. And another 90,000 plus on Facebook.
That is until both of your accounts get temporarily on permanently shutdown. Now “how” do you contact your followers. When you or your major competitors never bothered to build your own list. Huh?
“How” long did it take you or your major competitors to build these types of followings? And with the snap of one of the platform owners fingers. It’s gone.
Entrepreneur please don’t forget or ever again take for granted. You and I don’t own any of the social media platforms. We’re glorified tenants. The landlords get to decide who leaves and “who” stays.
So no matter “what.” If you and I want to maintain some type of control. Entrepreneur you better get started and continuously building your own on or offline database. Agreed? Good to hear.
And going forward. You now understand “why” you must avoid these three all too common marketing mistakes. Because they’re potentially costing you or your major competitors a fortune.
P.S. Now as is customary during this part of our show. Please share your extremely valuable comments (in the comments section below)
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