3 typical mistakes in marketing

There are three typical mistakes that can seriously hurt your business (Especially new businesses).

Mistake No. 1: You think advertisement is an expense not an investment!

Big mistake. Many business owners see marketing investment as an unnecessary expense, this is totally wrong without advertisement your business will never develop its full potential.

Mistake No. 2: You don't know the return on your marketing investment.

Too many business owners throw money at marketing without taking the time to figure out what they're getting for those dollars spent and without directing the investment to their customer targets. If you can't tie the expense to a specific result, and you can't reach your potential customers, you may be wasting your money.

Mistake No. 3: Not Developing a Marketing Plan

Most entrepreneurs or small companies are understandably eager to see a return on the investment of time and money they have made in their business. Ready to start cashing in, they either hit the pavement running or hire a salesperson to do it for them. But a business trying to sell a service or product, without first creating a marketing plan, is much like a marathon runner with no finish line. Remember; a marketing plan provides the specific details needed to increase visibility, expand your customer base, and provide quantifiable methods to measure your return on investment (ROI).