Learn about the most common mistakes that new marketers make and how to avoid them. Discover the importance of market research, branding positioning, customer retention, and an omnichannel approach in marketing. Find out how authenticity can impact customer preferences. Improve your marketing strategies and increase your chances of success.
In this video, the speaker discusses five common mistakes that new marketers often make. They emphasize the importance of market research and understanding the needs and problems of their target audience. The video also highlights the significance of branding positioning and being consistent and omnichannel with the brand. Another mistake mentioned is neglecting repeat customers and the potential revenue increase that can come from customer retention. The video suggests using an omnichannel approach by utilizing various platforms and channels for marketing. Finally, the speaker emphasizes the importance of authenticity and how it can impact customer preferences. In conclusion, the video provides valuable insights for new marketers to avoid these mistakes and improve their marketing strategies.
Five mistakes almost every new marketer makes.
You're new to marketing, you have energy, you have optimism,
and you're hungry for success.
So what can you do to make sure all that energy
doesn't go to waste?
Here's a harsh stat for you, courtesy of LinkedIn.
95% of people fail online, lose money,
or never make a penny from internet marketing.
That means that the odds are against your success
but that's only because you're new
and you don't know much better.
Look, no one's perfect.
I've made tons of mistakes.
So many, I can't even count them on both my hands
and I keep making them.
The biggest difference is that I know which dumb,
or small, or maybe big mistakes to avoid.
And here are the top five mistakes
I see new marketers making all the time.
Mistake number one: lack of research.
Market research services industry is growing fast.
From 75 billion in 2021,
to a projected 90.79 billion in 2025.
If you do market research,
you'll figure out what people want.
See, marketing isn't about doing what you want
to appeal to the ideal customers.
You're not buying, your ideal customers are buying.
So how can you appeal to them?
Through market research you can figure out what they like,
what they don't, what's appealing to them,
the problems that they're facing,
and the solutions you can provide.
And the key wording that I just said
is the problems they're facing
and the solutions you can provide.
In your marketing if you can address problems
and then talk about your solutions,
you're much more likely to win.
Mistake number two: poor branding positioning.
Do you know where your niche lies?
So many companies market products
without considering brand perception
or what their audience needs.
Brand consistency can increase revenue by 33%.
And it's not just only about being consistent
with the brand, it's about being omnichannel with the brand.
You know, one day I was in the Expedia Canada office
and I was talking to an individual named Tony
who's running a lot of their marketing in SEO.
And Expedia owns tons of different brands, you know
like Trivago or hotels.com, the list goes on and on.
And when I was talking to Tony, he's like,
"Did you know, Neil, when we went omnichannel
and our brand was in not just one channel or two channels
but majority of the channels and we're using the data
to optimize each of those channels,
we were generating at least 10% more ROI from each channel."
I was like, "Really?"
He's like, "Yes."
Even though people are familiar with the Expedia brand,
by being omnichannel, they did much better.
Mistake number three: not paying attention
to repeat customers.
Only a 5% increase in customer retention can increase
your company's revenue by 25 to 95%.
Just think of it this way, you probably buy from amazon.com.
You probably have bought from them multiple times.
Did you know that Amazon makes the majority
of their money from repeat customers, not new customers.
That's the key in building a big business.
There's only so many people out there that you can target
and it's hard to convince someone to buy from you.
But what's easier than convincing someone to buy from you is
convincing them, the person who's already bought from you,
to continually buy from you
because you've already gained their trust.
Mistake number four: not using an omnichannel approach.
73% of customers prefer shopping through multiple channels.
So use a omnichannel approach.
Use TikTok, Instagram, Facebook, Twitter, SEO on Google,
SEO on Bing, paid ads on Google,
paid ads on Facebook, and YouTube, and organic YouTube.
You get the point.
You want to take an omnichannel approach.
As I mentioned earlier from the Expedia example
they saw a much higher ROI.
Mistake number five: lack of authenticity.
88% of customers say authenticity matters
when deciding what brands they like.
So what are the reviews?
What are the open boxing?
You know those videos on TikTok
of someone using your product.
That's what people want to see, that's authentic.
You don't need high quality,
crazy, amazing production to do well.
You just need authentic stuff out there.
And if you push that, you'll do much better.
Now, if you need help with your marketing,
you want to avoid basic mistakes,
check out our ad agency, NP Digital, where we work
with companies all around the world from SMBs
all the way up to enterprise, and we won tons of awards
for things like SEO, paid advertising, EMO marketing,
even Agency of the Year.
I look forward to helping you out.
Starting out in marketing can be exciting and full of potential. However, many new marketers make common mistakes that hinder their success. In this blog post, we will explore the top five mistakes to avoid and how they impact customer support.
Market research is vital for understanding what your target audience wants. By conducting thorough research, you can identify their needs, preferences, and pain points. This knowledge enables you to tailor your marketing strategies and offer solutions that resonate with your customers.
Branding consistency and positioning are crucial for building a strong brand image. By understanding your niche and aligning your brand with your audience's needs, you can increase brand perception and revenue. Being omnichannel with your brand, as demonstrated by Expedia's success, ensures that your brand is present across various channels, leading to improved ROI.
Many marketers focus solely on acquiring new customers, overlooking the potential of repeat customers. Studies show that even a small increase in customer retention can significantly boost revenue. By nurturing relationships with existing customers and providing exceptional customer support, you can foster loyalty and encourage repeat purchases.
In today's digital landscape, customers prefer shopping through multiple channels. Utilizing an omnichannel approach allows you to reach customers on platforms they prefer, such as TikTok, Instagram, Facebook, and YouTube. By diversifying your marketing efforts, you can maximize your reach and increase ROI, as exemplified by Expedia's experience.
Authenticity is crucial in building trust and connecting with customers. Consumers value genuine experiences, reviews, and unboxing videos. High production value is not necessary to succeed; instead, focus on delivering authentic content that resonates with your audience. By showcasing the real value of your products or services, you can establish a loyal customer base.
By avoiding these common pitfalls and implementing effective marketing strategies, you can increase your chances of success in the competitive world of marketing. Additionally, considering the impact of these mistakes on customer support can help you prioritize providing exceptional service to your customers.
Remember, marketing is an ever-evolving field, and learning from mistakes is a vital part of growth. If you need expert guidance, our ad agency, NP Digital, is here to assist you. We have a proven track record of working with businesses of all sizes, providing services such as SEO, paid advertising, and email marketing. Let us help you navigate the marketing landscape and achieve your goals.
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Learn how to build your personal brand and drive website traffic with strategic marketing tactics. Collaborate with influencers, optimize your website for SEO, use email marketing, and provide exceptional customer support. These 10 hacks can boost your online presence and establish you as an industry authority.
Messaging, hiring talent, establishing brand identity, and utilizing video content are effective branding tactics. Social media and consistency are also important.
Focusing on quality, service, and engagement can lead to sustainable growth and brand advocacy. Effective communication with customers is crucial for success. Treat customers right and listen to their needs.
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