Expecting more than what you’re willing to pay for
We’ve all heard the saying “You have to spend money to make money” and unfortunately it’s very true. Your advertising and marketing strategy forms your brand’s reputation, and just like people, it is important to not only have a good reputation, but also maintain it. Skimping on a proper agency and strategy such as a mediocre ad and poor placement will end up being a waste of your money, and won’t give your company the respect it deserves. A new business should be willing to spend more up front to push the brand and be more ‘in your face’ to compete with established competition, gradually cutting back as they become more well known. An existing business should focus on keeping the brand’s name out consistently, and spend their budget on seasonal advertising and marketing pushes that make sense for their business. Making a realistic budget for your company along with realistic goals will allow you efforts to become positive investment for your business.
Giving up too soon
Being consistent is very important in the advertising and marketing world and although that mostly applies to branding, it also applies to your marketing efforts. A big mistake that can be made is pulling the plug on your strategy too soon. It is important not to stop running an ad after one shot just because your business didn’t double with in a week. Seeing the same brand consistently builds trust in consumers, so even though they may have passed over it the first time, after a while they start to look at your brand as an established company and are more likely to give it a chance. The take away is to give the advertising time to work and if you’ve given it ample time and your still not happy with the results, then it might be time to let your agency guide you and change directions.
DIY or Nothing at all
Most people have seen home improvement TV shows of ‘Do it yourself’ horror stories. The same idea applies to DIY advertising and marketing. Not putting your brand’s reputation in professional’s hands is a huge risk and it is important to remember that even though you may have a talented staff, if they are not experienced, the efforts could end up harming you. Some start with an agency, and then try and take over, ignoring the “if it’s not broken don’t fix it” saying, while some just think they can don’t need the help of a professional at all. Unfortunately in both cases, this does not result in savings, because not only do printing and ad space costs not change because you did the ad yourself, but the amount that you think you are saving by eliminating the agency will not match the amount of return on investment from a properly done and placed ad. On top of that, most ‘do-it-yourselfer’s’ end up giving up and then end up either calling in professionals anyway, or worse, giving up their efforts all together. Doing absolutely no advertising and marketing at all is the fastest way to let your competitors pass you by. By opting out of this important part of business you are hindering it’s potential and inevitably giving up future profits and growth.
Avoiding these 7 common mistakes is a great way to keep your business on the track that you want. Even if you’ve committed one or more of the marketing and advertising ‘sins’, the right agency can get you back on that track. No matter how large or small the business, a good agency can work with your individual needs to make sure that your company’s goals are reached to the fullest.