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ByRobertM.SpooneyTh.D.ExecutiveDirectorCEOAfricanAmericanChamberofCommerceofCentralFloridaMostsmallbusinessentrepreneursoperatewithalimitedbudgetandIhavedeterminedthatwhenanentrepreneurhasalimitedbudgetcommittingtoomanymistakesequatestolostdollars.Itisanopensecretinthebusinessworldthatmostofthemistakesthatcanbecommittedinbusinesshavebeencommittedsowhynotjustlearnfromthemsavingyoutheagonyofcommittingthemyourself.Withthatsaidhereare5costlysmallbusinessmarketingmistakeseveryentrepreneurmustavoid1.AnIncongruentMarketingMessageToeffectivelysellyourproductorserviceyourcustomerhastox1cgetx1dthemarketingmessage.Acustomer-centricmarketingmessageeducatesyourprospectsandpersuadesthemtobecomecustomers.Toomanysmallbusinessesmakethemistakeoffocusingtheirmessageontheproductorcompanyinsteadofhowtheprospectwouldbenefitbypurchasingtheirproduct.PreparetherightmarketingmessagewithsomeoftheseinmindIdentifytheprospectx19sproblem.Explaintotheprospectwhytheproblemshouldbesolvedimmediatelyandexplainwhyyourproductorserviceistherightsolutiontotheirproblems.Listthebenefitsyourprospectswouldenjoyuponpurchasingyourproductandprovideanunconditionalguaranteetoallayanyfearstheymayhave.2.x1cSpray-and-Prayx1dMarketingInsteadOfPrecisionMarketingThedaysofmarketingasazero-sumgameareover.YoumustdemandaccountabilityfromyourmarketingeffortsexpectingtangibleresultsintheformofahealthyROIreturnoninvestment.Differentiateyourmarketingmessagesandtargetthemtomeetthespecificneedsandwantsofyourprospectsandcustomers.Manysmallbusinessesareguiltyofthedreadedx1cspray-and-prayx1dmarketingideologywhichinevitablydrainstheirresourcestothepointwhereitveryoftenleadstotheirdemise.Donotcommitthissamemistakebutinsteadpracticeprecisionmarketingwhereeveryaspectofyourmarketingandadvertisingeffortsaremeasuredandtrackedformaximumreturns.3.FailingToRealizeMarketingIsAboutValueCreationTocreateasustainablesmallbusinessyouhavetomarketsomethingofvaluetotheprospectandcustomer.Marketingisyourbusinessandcreatingvalueforyourcustomersshouldpermeatethroughallyourmarketingefforts.Strivetoalwaysover-deliverbecausecustomerslovetoreceivemorethantheyexpectandtheeasiestwaytodosoistodevelopathoroughunderstandingoftheirwantsanddesires.4.SellingInsteadOfEducatingMustpeoplehaveheardtheage-oldprinciplex1cpeoplelovetobuybuthatebeingsoldto.x1dItisaprinciplethatwillcontinuetoholdtrueforagestocomebutunfortunatelymanysmallbusinessesstillfailtoadheretoit.Thefastestwaytogetridofaprospectistotryforcingasaleonhimorher.Education-basedmarketinghoweverisapowerfulmarketingstrategytoovercomethisproblemofbeingsoldto.ThisstrategymakesuseofgivingawayvaluableinformationeducatingyourprospectaboutthebenefitsofowningyourproductorusingyourserviceofferedtothemasfreereportsvideocassettesCDsorDVDsinexchangefortheircontactinformation.Itisastrategythatbuildstrustwiththeprospectsresultinginamuchhigherclosingratio.Soforgetaboutusingapitchandtryeducatingyourprospectswiththegoalofobtainingahigherconversionrate.5.NotFollowingUpWithProspectsOrCustomersSmallbusinessesspendagreatsumofmoneyacquiringcustomerswhichmakesitallthemoredifficulttounderstandwhymanyofthemdonx19tfollowupwiththeircustomersoreventheirprospectsafterthex1cfrontendx1dsale.Ithasbeenwelldocumentedthattruerichesaretobefoundinthebackendsalesandthereasonforthisissimple.Ifacustomerorprospectraiseshisorherhandtodobusinesswithyouitmeansanelementoftrusthasbeenestablishedandabusinessrelationshipisreadytobeformed.Theyaremorethenlikelytobuyfromyourepeatedlyifyoumakeitapointtocapturetheircontactinformationanddevelopafollow-upsystemforcommunicatingwiththemfrequently.6.SellingToTheWrongTargetMarketNeverassumethatyourproductorservicewillappealtoageneralaudiencebecausethisassumptionhasprofoundlyresultedinmanysmallbusinessesshuttingupshop.LargebusinessesareguiltyofthistoobutyoucansaveyourselffromcommittingsucharashmistakebyaskingyourselfthesetwoquestionsWhoareyourcustomersorwhoisyourtargetmarketWhowilluseyourserviceorwhowillbuyyourproductAnswerthesequestionswithabsolutelyclarityandsegmentthesemarketsbydemographicsandpsychographicstozeroinonyouridealcustomer.Thetimespentdoingthiscorrectlywilladdnicelytoyourbottomline.Justrememberthattosucceedyoumustbepreparedtofailsodonx19tfeartheeventualmistakebutlearnfromit.SmallBusinessMarketingMistakesDr.RobertM.SpooneyPROGRAMSUCCESSx13MAY2012PAGE3