5 Biggest Mistakes in Getting New Customers
In this marketing era finding the right customer is as difficult as maintaining existing customer. Every competitor will find ways to persuade your client or prospect to buy their product. Some business owners experienced tragic moments in their business, not to mention 96% businesses fail within 10 years.
Here’s a few question you might want to ask you self.
- Have you ever feel you have a great product but doesn't sell?
- You know you are passionate about your business but only e few are interested?
- Your family and friends love your product, but market says otherwise?
- So, Have you ever feel frustrated when getting new customers to buy your
What are the 5 biggest mistakes in finding prospect that you can avoid now:
1. Waiting for Prospect to come
Customers are like butterfly, you can catch using nets or your can build beautiful garden so it feels comfortable to linger around. Most business owners feel that if you have a business people will come. Or if you create a great product it will sell by itself. This is the most dangerous thought about running a business and getting new customers.
Definitely everyone wants great product butit will never sell unless you do something. All great brands who we think sell by itself have invested millions of dollars in marketing, branding, selling, customer survey, research to get more demand.
Until your brand is already well known you have to do your homework to attract customers. So, what are great things to start if you are new in business and you want to introduce your product?
- Have promotional activity in strategic location by giving away samples and ask prospect to try
- Make sure your storefront represent your marketing. Put big information about your offer, product of the week, sale, or simply invite people to browse your store.
2. Don’t know Who is Your ideal Target Market
Of course we know each person's wants are different. Everybody has desires as well. Thus, the target market you select must be specific. I’ll give you an example; if your business is targeting mothers with children might be different approach to teenagers. “Everyone” is not a target market.
Even if your product or service can help just about anyone, not everyone is going to buy it. They don't have the money or the interest, motivation or whatever. And when you try and target everyone, you really end up targeting no one.
3. Imitating Competitors
I have to be honest. Imitating other business is probably one of the most profitable and effective strategies. Here’s the reason why; the market that already exists,Somebody has educate the market, lower promotion costs, andLess trial and error.
But if you imitate yourcompetitors marketing techniques that would be a no no. Customer will tell if you are authentic or not just by looking at your marketing piece. Copying competitors strategy only provide good favor to your competitor.
Find a different way to communicate by providing unique ideas that fits your market. Make it easy for your customers to buy or to identify your product.
4. Unaware The Importance Of Marketing Research
Research, is the process of gathering information to learn about something that is not fully known. This is highly important for any business who want to survive in this economy. it is also a critical component needed to make good decisions.
There are two ways to do a research. One is to do a formal survey or you can ask your existing customers. This action alone can benefit your business to make a better plan in the future. When do you need a marketing research? Before marketing new product, you need to make sure who is your target audience, how big is the market.
5. Marketing As A Burden
Still thinking of marketing it burden? Remember, it will be your investment.I like to call marketing as cost of acquiring customer. How much you spend compare to how many customers buys.
If you spent $1000 and you get 100 customers, you have $10 acquiring cost. So, do your numbers and check how much is your acquiring cost per customer. If you spend $1 and you get $2 back, marketing is an investment, not burden. Not spending any marketing budget will get you nowhere.
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