10 Mistakes to avoid this year to achieve greater success and results for the New Year:
It is never a good idea to just be satisfied with how your business is doing without a plan to move the business forward. One of the worst things a business owner can say is that they are doing “okay”. I say “okay” isn’t good enough. It isn’t your best. If you are not willing to strive to be the best, someone else will.
A successful business owner will take the time that is necessary to take inventory of last year’s activity in all facets of the business. Whether it’s to track the marketing spend vs. return or to evaluate the productivity across the board, it is essential to conduct a year-end assessment. If done correctly and thoroughly, this will serve as your guide not only this coming year, but for years to come.
In this economy, job security and assurance can be a thing of the past and a dream to most people in today’s modern workforce. With this in mind, you as the business owner, have a responsibility to your business and the longevity of the success of your business.
If your business is thriving, give credit to where it is due. If your business is not making the mark, well… it may be time to hold yourself and your staff accountable to either meet the needs of the business to ensure its success or it may be time to go elsewhere. Everybody wins when everybody works to win. It’s simple.
Facebook, Twitter, Instagram, Linked In, and YouTube are the leading social media networks in the world. Make your business social. This is where the buzz and trends are most talked about with anything marketable these days, but use it wisely.
This channel of communication is not a place to mix personal with business. Cleaner lines of communication are essential to build your business’s brand without diluting it with what doesn’t pertain to your customer.
We know that marketing and advertising is essential in communicating about your business and what it has to offer, but not all advertising is effective. Don’t you want to gain back what you spent and then make an even greater gain for that expense? After all, marketing should be viewed as an investment and not an expense.
Don’t purchase your advertising blindly; let an advertising agency do the work for you to get you the largest return on your investment.
What does search engine optimized mean? Simply put, if GOOGLE, YAHOO, and BING don’t rank you high (first couple of pages) on their search results when people search for what you do, then you DO NOT have a search engine optimized website. You may have also heard its acronym as SEO. Having a website is not good enough if no one can find you. Do not make this mistake in 2019!
Who is your customer? I’m sure many of you say, “oh, I know my customers”, but what do you know about them? How do you categorize them? How do you target them? For a restaurant owner, they may be thinking that their customer is someone that eats and that likes their type of food. It isn’t that simple. There is a science to filtering the demographic to ensure that your targeting will be more effective when reaching your customer.
Do you know your competition? Not knowing your competition can have you out of business in no time. It sounds cruel to say, but this can happen if you do not know how you are benchmarked in the market. You need to know how you stand amongst your competition in order to not fail amongst them.
I can not tell you how many times I ask business owners, “what is your competitive advantage?” and they look at me as if, I just asked them something in a foreign language. Your competitive advantage is how your business competes in the market towards an advantage for you. For example, a unique savings offer that no one else can beat, a convenient location, or the best quality service with excellent ratings can be your competitive advantage.
Not having a plan is the biggest mistake you can make in 2019, or any year for that matter. Plans make goals, goals make objectives, and objectives make metrics, and this is how you execute a plan. Without a plan, you are putting yourself and your business at risk. Make a plan for the year. Then make a quarterly goal to work toward your plan. If your plan is to grow your business by 20% over last year, then you need to plan for that growth to ensure its success!
Being a business owner in today’s world may require more output and more educational input, but it’s not something that a modern business owner can’t handle while avoiding these mistakes and common pitfalls.
We can help you take your business to the next level by minimizing your risk in these key areas: marketing, advertising, media buying, business development, website development, SEO, market analysis, social media management, brand management, online presence management, and many more services that will benefit your business and your growth goals with data tracking and analytics to support our efforts.
Contact us today for a free business needs assessment!
RSP.Marketing is a full service digital media agency that works with business to fulfill their marketing goals and push their businesses forward.