3 Jul 2022| Artificial Intelligence
Ways Small Businesses Waste Money on Marketing
Ever been in a phase where you know that you have a great product in hand and end up putting a lot of money into marketing that product, to eventually realize that none of those strategies work? Well, you are not alone, most of us have been through that phase with our small businesses.
In this blog, we will show you how to avoid wasting money and your valuable marketing resources go toward strategies that will grow your business.
We all have known small business owners who scout the market for a website. They find a source who designs a website for their business. The finished website looks great and when the business owners launch the website, sales don’t come through, despite all their renewed efforts.
The problem? Well, web designers are talented and have a great way to design the website using the most modern tools available, but few of them hardly ever studied sales copy. They cannot write words that sell your product. Let us get this straight. Consumers buy products only when they hear and read about it.
The design however enticing, it’s the words on the website that ultimately motivates us all to take action. Get a copywriter who knows about your business and get him to write the right sales copy for your business website. Do not make the mistake of ever believing a beautiful site is an effective one without the right words on it.
Consumers buy products only when they hear and read about it.
If the trade show is a part of your marketing strategy, You must adhere to this pointer.
Showcasing your products at a trade show helps you connect with qualified potential customers face-to-face and hence translate into an increase in your brand’s influence. Research shows us that a typical small business or company allots 31.6% of its overall marketing budget to trade shows.
If this is the case, you as a small business owner have pumped in a considerable amount of funds into displays, materials, travel costs and miscellaneous. But have you trained your team members what to say when prospects visit your booth? It matters what they have to say about your company and the problems the company solves.
If you have not done that part, you have just wasted all your investment. What you need here is to have a one-liner. A well-crafted sentence that delivers to get people to buy your product. It can also be a catchphrase that describes the problem your typical customer faces and how your product or service resolves that for them, by using the product. Get your team stationed in the booth to say the right things that enable you to catch your customer’s attention.
With this, you will be able to get a great return on your trade show investment, instead of draining your marketing money.
A typical small business or company allots 31.6% of its overall marketing budget to trade shows.
Asking customers to sign up for your email newsletters might be a great marketing strategy, but then, its money down the drain. Honestly, people do not have the time to read newsletters. It is safe to say that the strategy is a part of the bygone era. There are far better email strategies out there that can be made use of :
The above-mentioned strategies are to offer a free piece of ‘lead generating’ content your subscribers get when they sign up for your emails. Implementing this strategy coupled with a series of smart follow-up emails will deliver you a stronger ROI.
People do not have the time to read newsletters
Final Take: It is evident that many small businesses waste a lot of money on marketing. But if you are doing anything that we have mentioned in the list above, kindly stop it.
Check out ONPASSIVE smart business solutions and its tools that help you start creating marketing that grows your business and you can avoid the bottomless marketing pit in the long run.
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