The Five Marketing Mistakes Entrepreneurs Make and How to Avoid Them

By: Gaurav Batra In: B2B Last Updated: 2010-03-09

While promoting your business it is very natural that mistakes are made. But it is important to rectify them and reduce the number of mistakes so as to acquire maximum promotion. If you want to know, what are the common mistakes that every Entrepreneur makes while setting the marketing strategies then this write up will serve as your guide. We also provide the ways to avoid those mistakes.

The 5 common mistakes are:

Relying on a single event :- Marketers invest their money on a single place like local fair, trade show, etc. that might prove expensive and inefficient in generating leads. So, this must be avoided.

Tips to avoid the mistake :- Marketers invest their money on a single place like local fair, trade show, etc. that might prove expensive and inefficient in generating leads. So, this must be avoided.

Tips to avoid the mistake:

Do the calculations about the resultant sales and expected costs beforehand. Always underestimate the sales. This will help you play safe and generate more benefits.
Think like a customer and ensure that you prepare yourself according to their requirements.

Over doing things :- Entrepreneurs tend to over-promote products or services. Promising more and delivering less weakens your stand as well as credibility among the clients.

Tips to rectify the mistake:

It is always better to make fewer promises and when the customers receive more than their expectations they appreciate your work.
So, market what you have in store and not that you will have in the near future.

Outsourcing without giving a thought :- The entrepreneurs put the responsibility of the success or failure of the business on the shoulders of the hired consultants. Their complete dependency on the hired professionals leads to their failure.

Tips to avoid the mistake

Prepare a written document that contains the charges, time limit and the design of the final outcome.
Always ensure that you a backup plan that can be used in case the consultant fails to deliver the desired result.

Complicating the sales procedure :- Making your plans complicated is the biggest mistake that the entrepreneurs make. It makes it difficult for the customers to understand what you are offering. It leads to your loss.

Tips to avoid the mistake:

Be simple and straightforward while making your marketing presentation.
Ensure that the procedure to buy the products and services is trouble-free and well-organized.
The customers should not be asked too many questions and shouldn't be asked to fill up different forms. It might drive the customers away from the deal.

Not tracking the results : - After a marketing plan is launched the marketers take no notice of its success or failure. Tracking down the results of your marketing plan enables you to learn what your customers think about you and what they expect? So, it gives you an opportunity to update and improve yourself.

Steps you should take:

Whatever your marketing plan is, it should be in accordance with the sales.
Try and create different ways to get the results of your marketing strategy. Through Email and polls.

These are the major mistakes that the entrepreneurs make but there are various other small mistakes that go unnoticed. Following our suggestions and tips you could put right your marketing plan and guarantee an effective promotion.