{"id":32352,"date":"2018-10-30T19:42:53","date_gmt":"2018-10-30T23:42:53","guid":{"rendered":"http:\/\/www.andysowards.com\/blog\/?p=32352"},"modified":"2018-10-30T19:42:53","modified_gmt":"2018-10-30T23:42:53","slug":"top-5-marketing-investment-mistakes","status":"publish","type":"post","link":"https:\/\/andysowards.com\/blog\/2018\/top-5-marketing-investment-mistakes\/","title":{"rendered":"Top 5 Marketing Investment Mistakes"},"content":{"rendered":"

Marketing is the single most powerful tool that drives traffic and in turn sales, but there is no be-all and end-all trick to it. You can’t just continue or borrow a template from your competitors. Every campaign needs to be built from the ground up and custom-tailored to suit the needs of your particular business and your specific audience.<\/p>\n

McDonald Paper<\/a><\/u> is one such business which is able to reach their target audience by cleverly using everything at their disposal.<\/p>\n

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\n100+ Best Billboards<\/em><\/p>\n

It’s intimidating to begin, but it’s easy to make headway once all the basics are covered. Most of this stuff has been previously discussed, but this article about marketing mistakes will help you get solid footing.<\/p>\n

But first things first: marketing is an investment, not an expense, and should be considered as such. You spend in order to earn more. It’s a fair assumption to expect most businesses to be familiar with the concept of ROI (return on investment), but fewer business owners are familiar with the subconcept of ROMI.<\/p>\n

ROMI: Return on Marketing Investment<\/h3>\n

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This is a metric used in digital marketing used to calculate just how much a marketing campaign is generating in revenues when compared to expenses.<\/p>\n

Read more about ROMI calculations here<\/a><\/u>.<\/p>\n

ROMI is an essential concept when gauging the effectiveness of a campaign, but it won’t solve other problems which may occur. Without further ado, let’s dive into the biggest marketing mistakes.<\/p>\n

Mistake #1:Not defining the customer<\/h3>\n

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\nForget Leads, Leverage Existing Customers<\/em><\/p>\n

Businesses are always marketing to someone. Not an amorphous group, but an individual. Your perfect buyer. A buyer’s persona is a cornerstone without which no marketing plan can even begin to take shape.<\/p>\n

Who is your buyer and who are you targeting?<\/p>\n

The only effective way to answer that is to get direct feedback and crunch analytical data.<\/p>\n

Age, gender, income levels, buying preferences: everything plays a role here.<\/p>\n

When surveying, only ask potential customers for feedback.<\/p>\n

If you’re investing into a customer who doesn’t exist, the business will most certainly bear extra expenses and won’t recoup in time. One the simplest, yet most hard-hitting digital marketing mistakes.<\/p>\n

Mistake #2: Not determining and prioritizing marketing channels<\/h3>\n

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\nWhy You Need a Multi-Channel Marketing Strategy This Winter<\/em><\/p>\n

Not all marketing channels can provide an equal return and going big from the start across all of them is unsustainable. Instead, focus on a handful. Some are more suitable to implement given the stage of the business. As a primer, there’s no shortage of marketing channels to choose from:<\/p>\n