20 Marketing Mistakes That Can Be Fatal To Your Business And How
To Keep Them From Crippling You
By Brian Kaskavalciyan
This is an excerpt from the above titled report. To get the full report, FREE go to www.g4marketing.com/20mistakes.
An old sales trainer, Red Motley, said, "Nothing happens until something is sold."
And he was right. Selling, or the process of getting goods and services into the hands of consumers and having them exchange money for those goods and services, is what our whole economy is built on.
The mere "selling" of a product or service to someone, suggests that a job had to be created in order to make, manufacture or produce the thing that was sold. And, in order for that item to be purchased, another job that produced and sold a product or offered a service of some type, had to be in existence in order for the buyer to have the money to exchange for that item.
The process we call "Marketing," is the bringing together of potential customers (prospects) and certain products or services so a purchasing agreement (sale) can be reached.
Marketing... effective marketing is critical to the success of a business... any business... in fact, your business. With ineffective marketing, your prospects may never find out about the products or services you offer and that they may need, may want, or that could benefit them, and consequentially, a sale may never be made.
Statistics tell us that 80 percent of small businesses will go out of business the first year they're in business. And of those that remain, 80 percent of them will not be in business five years from now.
Make no mistake...those are alarming statistics!
Yet, even with those incredible numbers, people still take their dreams into the marketplace with little or no planning, and with little or no regard for the harshness and cruelty of what the marketplace can bring without proper planning.
Common sense coupled with the experience of what others have done in the past, should tell us that if a business is going to expect to succeed in today's competitive marketplace, that that business is going to have to do a number of things right... or at least better, or perhaps differently, than most other businesses that have gone before them.
It Takes More Than Low Prices For A Business To Remain Competitive
In Today's Market
No longer is it possible for a business to maintain a competitive advantage for an extended period of time because of the products or services they offer or the prices they charge.
The availability and affordability for many businesses to take advantage of cutting-edge technology, low-priced, skilled labor, and more efficient delivery or distribution systems make it possible for an increasing number of businesses to enter and compete in the marketplace. This wasn't the case just a few years ago.
Even if a business can offer a unique product or service, or perhaps even a lower price on similar products or services that are currently being offered, it won't be long until the competition finds a way to duplicate, or at least pretty closely match that business's performance. And that puts an end to the competitive advantage the original business held.
So if a business can't depend on its products, services or prices for their competitive advantage, if they expect to survive, let alone thrive, that business is going to have to perform exceptionally in a number of critical areas.
Marketing Is A Major Key To
Success In Business
Unfortunately, most people who take their dreams and hard-earned life savings into the marketplace in the form of small businesses are not even aware of some of the most important factors that contribute to, and can even ensure their success.
Contrary to popular belief and much misconception, designing, creating, building, and growing a successful and profitable enterprise that commands a dominating position in the marketplace doesn't automatically require hard work, frustration, and enormous costs.
There's no question, and you probably won't get much debate, that there's more competition, and stiffer competition than ever before, in nearly industry and profession.
But there's also more opportunity. Especially for businesses whose owners and managers understand a few basic and fundamental concepts.
It really doesn't matter if you head up the largest corporation in the country or if you run a one-person, home-based business, there are just a handful of things you need to know to gain a competitive advantage in your marketplace.
And mastering just three of the most important of these things will enable you to write your own ticket to success.
You and I both know that this year, in this country, in the greatest and most prosperous times the world has ever known, a huge number of businesses, even large and well-established businesses, will close their doors, never to do business, or provide their products or services to their customers again.
Some analysts say that the major reason for business failure is under-funding - a lack of capital.
Others say it's because of poor business management practices.
And there's another school that teaches that some businesses are started by the wrong people... that certain people lack entrepreneurial skills, and would be better off working in their respective businesses as technicians or employees, rather than trying to run the business.
But when you get right down to it, for a business to even be a business, in the first place, that business has to have customers... someone to exchange their dollars for the products and services the business sells.
You can have all the funding in the world, you can have great management skills, and you can even have a tremendous entrepreneurial mindset, but unless and until you have someone to purchase your products and services in sufficient numbers, you'll never have much of a successful business enterprise. And you'll only generate an average income, at best.
Here's a fact worth considering:
Most businesses fail because they don't have enough customers buying from them on a regular basis.
Most businesses either don't attract a sufficient number of new customers, or they let their existing or current customers slip away. And, in most cases, it isn't always because the owners, managers or operators of those businesses didn't try.
Quite often, it's a result of not understanding and implementing effective "customer-getting" and "customer-keeping" strategies.
The bottom line is...
If you really want your business to be successful, you've got to make getting and keeping customers your number one priority.
Let me put it another way. When was the last time you heard of a company going out of business because they had too many happy, satisfied customers buying from them? My guess is, never.
On the other hand, you can probably name quite a few businesses that are no longer around because they didn't have enough people buying from them, coming back for more and referring others to them.
And that's where "Marketing" comes in. Letting others know about what you have in such a way that they are compelled... nearly forced to find out more. And then, ultimately, to buy the products and services you offer from you, and not your competitors. Most businesses... no, not most... every business makes mistakes with their marketing efforts.
Some mistakes are worse than others. Some can even be deadly, and if done often enough, or severely enough, can put the very business out of business.
But so much for other businesses. What about you and your business enterprise? How are you doing? Which mistakes are you making that could be holding you back from making the income, and enjoying the lifestyle you've always dreamed about?
Take a look at these 20 Critical Mistakes Most Businesses Make. And, as you read through them, think about your business, and see how you're doing in each of the areas.
Remember, Marketing, or the ability to get your message to others about the goods and services you offer, in such a manner that it compels them... nearly forces them to do business with you, is one of the most fundamental, yet misunderstood areas in business today.
Properly utilized, effective marketing can skyrocket a business to new and undreamed of heights.
Not understood, or under-utilized, a business can sink like a lead weight.
If you can get control of your business and avoid making these costly mistakes, you can expect astounding results!
If you only can get a handle on a couple of them, you will still get much better results from your business than you are now getting.
But if you fall short on any of them, and your competition masters them... watch out! They'll leave you in the dust. And you can't afford that!
Marketing Expert Brian Kaskavalciyan works with companies large and small to develop low-cost, high-impact marketing strategies that help get maximum marketing leverage out of every dollar spent. To contact g|Four you can call 888-215-4268 or send an email to firstname.lastname@example.org.