All businesses face pitfalls in their marketing schemes that are often just commonly misunderstood concepts! With our extensive industry knowledge and understanding of our business network’s marketing, we have identified eight pitfalls.
We have come up with a list of the most important concepts to help you to be better in your marketing efforts and are going to share some of those with you! To get a comprehensive understanding of the eight marketing pitfalls, you can purchase our eBook here.
Goals
One of the most important areas where businesses face an issue is goal setting. All business owners have a vague idea of what they want to achieve but no clear path that leads them there.
In our eBook, we have outlined ways for businesses to focus on goal setting and evaluation.
Value Proposition
Even before starting a business, you as a marketer need to know what value your business is offering.
Some questions you can ask yourself are:
(1) Is the product or service I’m selling valuable and unique in the market?
(2) How does my offering differ from my competitors?
(3) Why should customers choose my brand?
Unrealistic Expectations
Have you set goals for your business that are impossible to achieve?
Understanding Return on Investment (ROI) can be tricky for some businesses. Read our eBook to find out more about setting realistic financial expectations for your business.
Customer Lifetime Value
Customer Lifetime Value (CLV) can be defined as the net profit your business makes from a specific person over the course of their relationship with your business.
Businesses often focus more on acquiring new customers rather than retaining current customers.
Want to know more about how to make CLV work for you? Read about it in our eBook!
Principles of Demand
Demand creation and demand capture are two processes that have to be a part of every business’ marketing strategy. Are they are part of yours?
These are five of the eight most important marketing pitfalls which we have identified that businesses often misunderstand. We have curated tips and advice about these in our eBook in more detail so do check it out!