When launching or running a small business, entrepreneurs are required to cover all manner of bases. They will often have to focus on business development, sales, marketing, accounts, and any number of small day-to-day tasks that require their attention.
Of course, with so much to do, and given that these businesspeople are rarely experts in so many fields, it’s inevitable that mistakes will happen.
But what marketing mistakes are SMEs most at risk of making?
1. Lack of planning
Planning marketing collateral is essential. A lack of an adequate plan is akin to just posting content into a dark void. Plan ahead, understand what content needs to be created to appeal to your audience, and push out your marketing materials at the appropriate times.
2. Lack of necessary technology
Technology is essential to the successful running of an SME. Whether it be marketing automation platforms, social media outlets or simply a means of gathering email addresses, using the right technology is essential. Investing in or sticking with outdated software can be very detrimental to a business because it will allow your competition to gain a competitive advantage.
3. Not having the right people
As stated above, being an entrepreneur means having to become a jack of all trades. However, it’s almost impossible to succeed without hiring employees sooner or later. Mistakes made when choosing employees will negatively impact how the business operates and will put you back to square one (albeit with less money to spend). Only hire someone who can definitely do the job, especially when hiring for a marketing manager.
4. Putting marketing at the bottom of your agenda
Marketing might not seem like the most obvious thing to focus on during a business’ early days, but it is essential to raising public awareness of what your business does, and why it does it well. An adequate marketing plan which is backed by a good budget can definitely help a business to succeed in the long term.