Staying away from These Marketing Errors Will Really Pay Off
There are an abundance of opinions out there on which marketing and advertising practices work the best. In fact this could simply depend on the market a local business is involved in. I am not saying, though, that there are not marketing strategies that are just bad. In fact, your company will do much better if you stay clear of these costly advertising and marketing errors.
Buying Email Lists
The challenge with email lists is that most of them simply do not target your desired demographic. If you run a video game store, for instance, what is the point in purchasing a list where only 25% of the people play games? Because these lists are not often targeted, studies have shown that open rates drop to near-zero as a list becomes more public and used. Even though you might find affordable email lists to acquire, it’s really not a great deal if you are not reaching your target audience.
Committing to Misguided Strategies
New advertising and marketing tools are seemingly always coming out, and possibly, they can prove to be an awesome asset. The growth of pay-per-click ads, for instance, was a significant shift in marketing. Unfortunately, most of the newest marketing tips are simply full of false hope. When there is no evidence that a new method works just yet, it is best that you hold off on investing in it. Wait for large businesses to try out these new methods, and if they end up working well, you will have plenty of time to improve your strategy.
Clipping Your Cutbacks Too Early
One thing every entrepreneur should know is when to give up on a strategy that is not working. Unfortunately, many marketers give up too soon. There are those out there who expect immediate results, and that is just not the way marketing works. Quitting too early on a system that would prove effective is just as bad as wasting money on one that proves unprofitable.
Advertising is one of the places you should avoid cutting corners. Of course, if you are engaged in the previously mentioned techniques, it could be time for a change of course.