SEVEN MARKETING BLUNDERS AND HOW YOU CAN AVOID THEM
by Craig Huey
BLUNDER #1: Using 'image' advertising instead of direct-response advertising.
This is the number-one mistake made by 98 out of 100 companies. You may build image, but do you sell anything? Results are nearly impossible to measure. Avoid wasted ad dollars, vague ideas of who saw the ad, and frustration.
BLUNDER #2: Not utilizing direct-response advertising correctly.
Millions of dollars are wasted on poorly conceived and poorly written direct-response advertising. Does the headline target your prospects? Is it easy to read with lots of 'hot words' (such as free, new, emergency, secret, easy, save, guarantee, today, and you)? Does it get to the point right away? Does it separate you from the competition? Does it focus on benefits for the customer?
BLUNDER #3: Not developing and using your 'Unique Selling Proposition' in marketing.
Buyers need compelling reasons to choose your company. Determine your Unique Selling Proposition and use it in your marketing. Examples: largest selection, speediest delivery, lowest markups, convenient locations, better guarantee, etc.
BLUNDER #4: Failing to test the marketing approaches that work best for your business.
Most advertising programs are based on personal feelings, hunches, and arbitrary decisions, without any factual backup from testing. Test various approaches and let customers tell which one is best by their response. Direct mail is an art and a science. Testing should not be an option-it is a necessity.
BLUNDER # 5: Failing to back-end, upsell, and cross-sell your present customers.
In the insurance industry, we're talking about rounding the account. Your easiest sale is to someone who has already bought from you. The hardest customer to lose is one who has several different policies with you. More sales and better retention are the results you get from rounding the account.
BLUNDER #6: Not using database marketing.
Your database is the key to survival and success. It allows you to maximize repeat sales, account-rounding, customer loyalty and retention. Data should be more than just names and addresses; it should include the history of the account.
BLUNDER #7: Not using the latest breakthroughs in direct marketing.
Many companies are involved in effective direct marketing programs, but they are unaware of the latest breakthroughs. For instance, how familiar are you with 'infomercials,' cable television access, video or audio direct marketing, fax direct marketing, and tele-mail? These are some of the hottest new breakthroughs. Will you be keeping ahead of the competition, or trying to keep up?