5 Mistakes to Avoid When Opening a Business

Image
  Opening a business can be an frightening journey filled with opportunities and challenges. However, numerous pitfalls can hinder your progress. Here are five critical mistakes to avoid when embarking on your entrepreneurial endeavor: Neglecting Market Research: One of the most common mistakes new entrepreneurs make is pitching into a business idea without thoroughly understanding the market. Failing to conduct comprehensive market research can lead to a disparity between your product or service and customer needs. Analyze the demand, competition, target audience, and current trends. Understand your customers' pain points, preferences, and purchasing behavior to tailor your offering accordingly. Ignoring a Solid Business Plan: A well-crafted business plan is a roadmap for success. Skipping or hastily drafting this crucial document can impede your business's growth. A solid plan outlines your objectives, target market, financial projections, marketing strategies, and op...

Top 10 Marketing Phrases: From Experience to Practice

Surely those sayings that they used to tell you at home when you were little still resonate in your mind , like pills of popular wisdom valid for every occasion. There are some phrases in the world of marketing that can accompany you in the same way in your professional life . Today I have compiled the 10 best marketing phrases , in my opinion, and I share them with you to serve as a guide in your future decisions .

These phrases will serve as inspiration and help you to see things clearly, clearing up doubts about the impact of good content, the segmentation of your audience or the importance of imagination.

These phrases about marketing are derived from the experience acquired over the years and present a background that we will discover in this post.

Always keep its meaning in mind!

Marketing phrases that will guide your strategy to success

1. “Many times people don't know what they want until you show it to them” - Steve Jobs

There are many companies that have stood out throughout history, but it would be difficult to think of a large and successful one without Apple coming to mind. The American company stood out for its ability to anticipate what its customers wanted before themselves . This is due, in large part, to the vision of its founder, Steve Jobs.

The keynote sentence that headed this section teaches us that we should try:

             Always stay ahead of the actions of competitors and our own clients.

             Don't wait for the market to show clear signs of what you want, because by then it might be too late.

The Inbound marketing is a clear example of how you can stay ahead of the industry , offering methods to understand the new needs of the market, based on a philosophy that contrasts with more traditional strategies.

2. “Advertising is a force like electricity, which not only illuminates, but also electrocutes. Its value to society depends on how it is used ”- J. Walter Thompson

I believe that we must always put ethics first . Marketing is powerful, and that is why it should always be used taking into account its implications and the consequences that it can bring.

Did you know that 92% of millennials prefer to buy products from ethical companies? Imagine what could happen if they discover that consumers have been misled or the full truth has not been revealed.

Remember the words of Walter Thomson and do not risk your image or limit your possibilities.

3. "Dissatisfied consumers are the greatest source of learning" - Bill Gates

This is one of the coolest and most revealing phrases ever spoken. Being wrong is inevitable, but it is not the mistake that matters, but how you react to it.

The products and services you offer will not always be a success. That is why it is convenient for you to analyze in depth and always try to understand the reasons behind an error . Not only to not do it again, but to use it to your advantage.

Even the largest companies with years of experience have had failed products and if not, tell it to Colgate lasagna.

4. “It has never been easy to create a brand. It has never been so easy for a brand to be irrelevant ”- Manuel Antonio Fernández

It is estimated that there are more than 45 million brands, a number that will continue to rise, but ... how many are relevant?

Every time you remember the fourth of the ten marketing phrases that I propose today, think that, without differentiation, your brand is nothing more than a logo or a common name.

Do you want it to become one more or stand out? It all depends on your decisions, your vision and your supports.

5. “It all comes down to integrated marketing communication” - Ann Stone

Ann Stone, a leading professor at the University of British Columbia, Canada, underscored the importance of integrated marketing communication beyond the industry itself.

The concept of Integrated Marketing Communications (IMC) focuses on unifying all communication elements in a brand message , in order to maintain consistency and coherence .

This extremely powerful concept takes on special importance when connecting with your consumers . Can you imagine why?

We are human being, we think and we communicate. Therefore, you should always try to achieve adequate communication , with a coherent and impactful message.

It may still surprise you, but, in practice, the way it communicates is more important and impactful than what it communicates. Do some examples come to mind ?

6. “How do you knows if your content is relevant? If you increase social traffic, social attraction and increase the number of qualified leads - Jason Miller

It is not advisables to believe that a digital marketing campaign is working purely by intuition, it is necessary to know objective results with certainty, it is necessary to know the data. Jason Miller's marketing phrase couldn't define it better.

Any strategy you apply should be aimed at trying to create value for your company / brand / product . And this must be measurable.

Doing things well implies achieving favorable results. And when this does not happen, you have to start asking yourself if the actions taken have been wrong or if the objective set has been the right one.

7. “What is creativity? Creativity is not copying, simply - Ferran Adrià

A curious but brilliant way of defining creativity is what the genius of avant-garde cuisine gives us. From his particular point of view, a reflection of his personality, Ferran Adrià highlights a very important aspect: that this quality allows you to differentiate yourself .

When you've already seen something several times, it can hardly surprise you, right?

8. “10 years ago, marketing effectiveness depended on your portfolio. Today, effectiveness depends on the size of your brain. ”- Brian Halligan

Of all the marketing phrases that I have selected, this is the only one that makes a comparison between the past and the present . Halligan makes it very clear: it's not about what resources you have, it's about how you use them.

In a world full of advertising, campaigns and companies, it is essential to stand out , and money cannot always guarantee that this goal will be achieved.

Many times, a simple idea (that you like) is enough to impact a large number of people. If you don't believe me, I'll give you an example. Do you remember the photo of an egg that broke the world record for likes on Instagram?

I suppose you would love for a campaign from your company to have a similar result, am I right?

9. Google only starts loving you when everyone else loves you first - Wendy Piersall

The tech giant knows what it's doing (almost always) and it's that whimsical. With this in mind, when creating content, you should always keep your goal in mind .

In marketing, one reason to create content is to attract your target audience. That is why it is vital to create content of interest to them. This translates into pieces that resolve doubts and satisfy needs , rather than pieces that highlight the virtues of your service or explain more technical data about your product. Obviously we want to offer them something, but showing them the commercial offer should almost never be the first step .

If you want your content to be in the first search positions, remember: make sure you create relevant content for whoever searches.

10. Content marketing is like a first date, if you only talk about yourself, there will be no second - David Beebe

Surely you have already heard about what TOFU, MOFU and BOFU are … Based on the fact that there are several stadiums, to succeed you need to know what to offer in each one .

When you go to a new store, without knowing the brand, how do you feel when the shop assistant offers you all kinds of products at all times? Would you feel pressured and uncomfortable? This is the feeling that a user has when he enters a page full of a final commercial offer.

I understand: you want to increase your sales, improve your results ... but isn't it better to create interest first? If no one knows you, how do you expect them to trust you?

You can earn that trust without running, following the natural path of the different stages of the customer journey .

 READ MORE:-

Marketingmediaweb

Divinebeautytips

Techcrunchblog

Nanobiztech

Globalmarketingbusiness

 

Popular posts from this blog

5 Mistakes to Avoid When Opening a Business

Factors to Consider When Indicating an Access Control System

Steps to Building a Successful Business Selling Online Courses