5 Marketing Mistakes That Are Hurting You.

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Marketing campaigns that you run can contribute a lot towards the success of your business in the long run. However, we often see how a lot of businesses tend to end up with failures even after they heavily invest time and effort on marketing. That’s because such companies tend to make mistakes with marketing.

If you can have a clear understanding about the mistakes that businesses do with marketing, you will find it as an easy task to stay away from committing such mistakes. Along with that, you can end up with securing positive results at the end of the day.

Here is a list of 5 of the most prominent marketing mistakes that could be hurting you.

1. Failing to define the target market properly

As the very first thing, you need to define your target market properly. If you are promoting the products to people who are not in a position to create an impact on your business, you will be wasting your money. Hence, it is important to define the target market properly and start promoting your products and services to them.

If you are not aware about your audience, you will never be able to reach them with the marketing campaigns. You will not even be able to tailor the marketing message accordingly to them. Every single company out there in the world have different target audiences. You need to understand what your target audience is and then come up with appropriate marketing content. On the other hand, you can also make sure that you are promoting the products only to them.

Without this understanding, you will go ahead and target the incorrect audience. The message that you send out with the marketing campaign will not resonate along with the customers. You have many different methods available to refine the steps taken to determine your target market. Conducting a market research holds a prominent place out of them.

Upon the understanding that you have about your target audience, you can also determine how you will be able to reach them. For example, you can see whether they are social media addicts or they read newspapers.

2. Failing to focus on brand trust

Second mistake that businesses do is that they tend to focus on building brand trust. You must take a look at this and make sure that you are not committing to this mistake as well.

Consumers in today’s world are a bit skeptical about the products and services that they purchase. They often tend to trust the brands that they are familiar with. If your brand is a new one, you will find it as a difficult task to get the attention of new customers. That’s why you need to think about promoting your brand in a way, so that people tend to trust it.

One of the primary objectives of the marketing campaign that you run should be to develop a trustworthy image for your business. Along with that, you will be able to tempt your customers to go ahead and purchase the products or services that you offer to the market. Even if you launch a new product to the market, you will find it as an easy task to get it closer to the customers.

When you take a look at the market, you will notice that it is saturated with many different similar products. In other words, your customers are provided with hundreds of different options to pick from. When you are facing such a situation, you tend to go forward with a brand that you can trust. Your customers will do the same as well. That’s why it is important for you to develop a strong sense of trust effectively.

Multiple methods are available for you to build trust around your brand. Social media networks, review sites and displaying customer reviews will contribute a lot towards the above-mentioned fact. Your potential customers will be interested in taking a look at the reviews that the existing customers have left. Those reviews can even act as personal recommendations and deliver positive results to your business. That’s because no customer is interested in making a blind decision at the time of purchasing products and services that they aren’t familiar with.

Once your customers see the advertisements, they will go ahead and look for the reviews available under your business. If they can find lots of positive reviews, they will tend to purchase products or services that you offer.

3. Failing to allocate sufficient budget

Budget is one of the most important factors that you need to consider at the time of setting up a marketing campaign. It is important for you to plan your marketing campaign well in advance and allocate enough budget. Spending too much of money on the marketing campaigns or spending too little on the marketing campaigns are the mistakes that you do with marketing.

You need to take your time and plan the marketing campaign. The time you take is totally worth when compared to results that you will be able to end up with at the end of the day. When you don’t allocate enough money, your marketing campaign will not reach enough people. As a result, the entire marketing campaign will get doomed even before you start. On the other hand, having too much of budget can also deliver negative consequences to you. That’s because you will not be able to manage your budget in a proactive manner.

Instead of splitting your budget, you can think about picking few channels to advertise. Then you can provide a large budget to different channels. This can provide you with the opportunity to end up with effective results at the end of the day.

Check out this Hootsuite blog post about social media budgets

4. Failing to define clear expectations

Before you run a marketing campaign, you need to have clear expectations. This is another reason available for you to take your time before you begin the marketing campaign. You need to make sure that you are clear with desired outcomes before you launch a marketing campaign. It can deliver amazing results to you at all times.

You don’t always have to communicate your expectations outside. You can still communicate the internally. However, it is important to make sure that you are fully aware about the goals of the marketing campaigns that you run.

The goals of your marketing campaigns can come in many different ways. They are not just in  a position to help you with enhancing the sales volume. The marketing campaigns can enhance your brand recognition and brand awareness. You might not be able to get instant results out of these initiatives. When you are aware about them, you will be able to keep realistic expectations and remain.

In order to get a better understanding about the expectations, you can think about seeking the assistance of forecasting tools available. Then you will be able to manage all the expectations with minimum hassle. For example, at the time of setting up paid advertisements, you will be able to estimate the outcome with the tools that are available. Or else, you can even take a look at the marketing campaigns you have completed in the past and learn valuable lessons out of them. Then you can use those lessons to ensure the betterment of future marketing campaigns you run.

5. Failing to pay attention to detail

Last but not least, it is important to learn how to pay attention to detail. This should be done at the time of designing your marketing campaign. If you don’t want to spend your money unnecessarily on a broken link, you should pay attention to detail.

It is also important to make sure that not even a spelling mistake is there on the marketing campaigns. That will be able to create an impact on the conversion rates that you have. You need to have multiple layers of proofreading. Along with that, you will have to get the approval from a higher authority. Then you can minimize the negative consequences that will come on your way.

It is better if you can have a dedicated person to manage the marketing campaigns. Then you can pass all the responsibility to that person. He will make sure that there aren’t any mistakes in the marketing campaign that you run. That person will even able to get a better understanding about the specific benefits that the different elements in your marketing campaign will be able to deliver to you as well. Hence, you will find it as an easy task to create a solid brand image for your business with it. You can also make sure that your audience is not distracted with the marketing campaigns that you run.

Final words

Now you have a clear understanding about the mistakes that businesses do with marketing. You need to take a look at these mistakes and make sure that you don’t commit them. Then you will be able to keep the peace of mind in the long run and enjoy the positive returns that you are getting at the end of the day.

About GriffusMedia

GriffusMedia is a brand strategy and advertising agency in Mid Michigan. We specialize in creating brands and advertising campaigns for small and medium business. If you think you could use some brand strategy, idea thinking, or other strategy Let Us Know.

5-Step Guide To Building A Real Estate Brand Identity

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Brand identity is important for any business you are in. It helps you stand out and defines who you are. In a competitive industry such as real estate it is even more important. Many people judge your brand and really determine if you are a viable provider before they even contact you.

For those that are relatively new to the industry, the importance of establishing a strong real estate brand identity is second to none. Whether just starting out or a seasoned vet, the way in which you brand your business will be the driving force to its future success. That said, the following highlights why a real estate brand identity matters, the benefits it entails, and how to create one for yourself.

 

Why It Matters

A real estate brand identity is the who, what, how, why, and where of your company. It sets the tone for how your business operates, provides a sense of who you are and what you represent, and delivers your message and content to your audience. Done right, it has the ability to transform ordinary consumers into loyal followers of your brand. Although it takes time to fully cultivate, a real estate brand identity will essentially create a visual representation of your company, or brand itself, for customers.

In addition, a real estate brand identity will also create a personality for your brand. As part of your real estate online marketing strategy, this character will be used to not only communicate your message, but evoke specific feelings in your audience. In essence, this personality will be used to engage with your customer base, as well as leveraging it to cultivate new customers. As an investor, the power of brand recognition cannot be understated. The following reveals the benefits of successful real estate branding:

Recognition: As a small fish in a big pond, brand recognition is a prerequisite to success.
To get noticed in today’s crowded real estate marketplace, investors will almost always need some type of branding to get their message across or have their presence felt. A real estate brand identity will assist investors in not only establishing a clear and consistent message, which is critical to reaching and maintaining customers, but a face to go along with it. Done right, the mere sight or mention of your brand’s name will bring instant recognition and trust among customers, which has the potential to positively impact financial results down the line. However, I should mention that while a real estate brand identity aims to produce recognition among your peers and future customers, it’s essentially up to you–the investor–to see it through. Remember that not all recognition is good recognition.

Trust: Along with the ability to produce instant recognition, a real estate brand identity also has the power to build trust. This intangible component is a huge benefit for businesses, especially for real estate investors as a person’s home is generally an integral part of their livelihood. This equates to a significant amount of emotional attachment, which will hinder a majority of real estate investors who are deemed untrustworthy. However, a real estate brand identity can help to cement a layer of trust among buyers and sellers, helping to bridge the gap with trust. That said, brand identity in real estate is important for a variety of reasons, but none is more important than building customer trust.

Credibility: The one aspect every real estate investor lacks when first starting out is credibility. One of the major advantages of a real estate brand identity is the ability to dramatically expedite this process. As a rookie investor, your level of experience will be at an all-time low in comparison to your competitors, and potential customers will be judging your business and services on your credentials. With none to speak of, your brand identity will play an instrumental role in not only developing your reputation, but maintaining and refining it through the years. A real estate brand identity is the first step beginner investors should take to begin constructing their credibility.

The final element to a real estate brand identity is its promise. As an investor, that promise — whether to be the fastest or most reliable — needs to be fulfilled each and every time in order to obtain the above mentioned benefits.

5-Step Guide to Creating Your Real Estate Brand Identity

Now that we understand the benefits and advantages of a real estate brand identity holds, it’s time to take a beginner’s look at how to build one. The following provides a five-step guide to creating brand identity as a real estate investor:

1. Size-Up The Competition

The first thing investors need to do when constructing a real estate brand identity is to evaluate the competition. By taking the time to review your local market and review what others are doing, investors can gain insight into what concepts are working for investors, and which ones are not. Taking the time to size-up the market will provide investors with unique opportunities they didn’t know existed when first getting started.

Another benefit to evaluating the competition is exclusivity. Taking an assessment of current brands in the market will help to ensure your branding is not confusable with that of your competition. This is also very important for credibility, as having a copycat approach could result in negative recognition.

2. Define Your Brand

The next step to building your real estate brand identity is defining who you are, and what you stand for. Generally speaking, this will include aspects of your mission statement and core values, which are usually defined in your real estate business plan.

Before you can promote your brand and deliver your message, you’ll have to define it. To gain a better understanding of your brand, investors should ask themselves the following questions:

  • Who is your target audience? What demographic are you looking to reach?
  • What are your company’s values? Mission statement?
  • What advantages do you have over your competition? What will you provide that others will not?
  • How do you want potential customers to view your business?

3. Create It

Successful creation of a real estate brand identity is more than just business cards and networking. One you understanding your competition, defined your brand and what you represent, now is the time to create it. This will generally include the essentials like a logo and a slogan, but creating an online presence as well, including a website with social media channels. This will also include building your buyers list; a database of buyers and sellers that may be interested in your services or know someone who could be.

4. Deliver Your Brand

With a clear message and platform to deliver it, the fourth step in building a real estate brand identity is the implementation stage. While this will generally include attending an assortment of networking events and local real estate meetings, a majority of it will include expressing your brand via outlets like your website, social media and blog. In addition, a direct-mail campaign can also be used to deliver your brand to potential customers.

5. Refine it

Rome wasn’t built in a day, and neither will your real estate brand identity; the key to successful branding efforts will demand continuous improvements. That’s not to say you won’t need to rebrand at some point down the road. Your brand will essentially evolve over time, but your message and the things you stand for should remain intact. However, the way in which you deliver that message may adapt over time.

A real estate brand identity is not only an important aspect to getting your real estate career started, but a power tool in succeeding. However, brand identity is more than just colorful logos and witty slogans — it’s a dedication to your customer promise.

 

Ready to develop the brand strategy for your real estate business? Contact Us

3 Reasons To Hire A Marketing Company vs Doing It Yourself

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As your business grows, you’ll eventually need to think about how the marketing will be handled. It can be a tough and often confusing decision-hire an agency or an in-house team? Based on experience, especially if you’re a small business owner, you should consider hiring an agency. Here’s why…

1) You don’t need to on-board, train, and manage an agency.

One of the most time consuming aspects of hiring a new employee is the process of bringing them into your company and having them understand their role. Some businesses spend months on the training process alone. Even after all that is done, you’ll still need to spend time managing the employee and making sure they stay on task. With an agency, it’s a whole other relationship. There is no on-boarding, training, or managing to deal with on your end (they won’t even take up any office space) because that is handled internally by the agency’s management team. This frees you up to do what you do best-run your business.

2) You’ll save a lot of money.

One of the first questions business owners ask when trying to determine whether to hire an agency or an in-house team is, “What’s the price difference?” You might be surprised to hear that an agency, overtime, will be much less expensive. Here’s how:

  • You won’t need to pay payroll taxes since they are an independent contractor.
  • There are no benefits/healthcare costs.
  • The expensive tools that are needed to properly run and track a marketing campaign are paid by the agency.

If you’re thinking that those are just minor expenses, you will also want to take into account that to get the experience and expertise of an agency you would need to hire premium employees. Here’s the average salaries for key marketing roles…

On the flip side, a marketing company may only charge your small business anywhere from $4,000 to $10,000 per month (estimated) depending on your needs.

3) You’ll have access to a team of experts.

Right now, the job market is doing very well. That’s great news for those looking for a job but not-so-great news for those who are hiring. Why? Competition is fierce and companies are willing to pay big bucks to retain top talent. If you’re looking to hire an expert to manage your marketing campaigns, you’ll need the budget to back it up. However, if you decide to hire an agency, you won’t just have access to one expert, you’ll have access to a team of experts. The number one benefit to hiring a marketing agency is that they have worked on similar campaigns in the past. This means they know what works and what doesn’t, especially if they work with clients in the same industry as yours.

Why Social Media Is Important For Your Business

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What do Facebook, Instagram, Snapchat, Pinterest, Google+, Twitter, and many, many more have in common? The potential to allow your brand or company to reach literally billions of users around the world. Why? Because social media channels have an infinite amount of users around the world meaning that your company and brand could reach many more individuals than you could ever imagine. Even people that do not have home internet can access free or paid internet in thousands of locations around the world. This makes it easier to connect to your brand or business in their search.

There are truly more than 50 million small businesses around the world that have a presence on social media. That number doesn’t even include the large businesses, home-based businesses, and international businesses that also use social media for success. Digital marketing has paved the way for business owners to get their name out there on every continent. As well as available with just a few clicks of a mouse. Let’s examine some of the reasons that social media is of the utmost importance to your business and brand. While the following reasons may not be in a specific order, using all of them in one way or another will guarantee you the success you are seeking for with your company.

Social Media Can Help Build Your Target Audience

Who is your target audience? Will your product be more useful to the older generation or the younger generation? Are you targeting women? Are you targeting men? Which age groups are you hoping to appeal to? These are all questions you should ask yourself and your marketing team. You need to learn who your target audience will be, then research them online. Are they most likely to use Facebook or Twitter or a different social media channel? Once you’ve established this information, be sure to understand how to put it to use. Create your presence on social media channels. Social media reaches consumers of all ages and demographics.

Loyalty and Sharing

In general, when consumers are happy with a product or service, they become a loyal bunch and because they are so loyal they will, inevitably, tell their friends or family about a product they tried, or a restaurant they ate at, or a business they came across on the internet that caught their attention. Take a look at some of the ‘shares’ on Facebook or the ‘views’ on Youtube. Some of them have millions or even billions of views and shares. Word of mouth is still the strongest form of marketing that any business can have and people like to talk, so why not create a strong enough presence on social media that makes them do just that?

Check out our Marketing & Advertising Services. Click Here.

Social Media is Open All Day and Night

Obviously, a human being cannot be open and awake all day or all night. Consider social media your virtual assistant since it is available 24 hours a day, 365 days a year, and 7 days a week. This way your brand is constantly being viewed and shared by people all of the time. Social media is your sales person and always available for consumers that want to order your product at some crazy hour of the morning, and since consumers live in completely different time zones all over the world, social media makes your business available to them as well.

Problem Solving

Again, humans aren’t programmed to stay awake always so social media will also help a customer solve a problem that they may have come across with your product, website, terms, conditions, and more. Having a business page will allow your customers or potential customers get in touch with you quicker since they can send a message automatically to you and you’ll get it first thing during office hours instead of the customer having to wait 48 hours for a fix to the problem they are reporting.

According to Bain and Company**, a global management and consulting firm,

“Businesses that engage with customer service requests via social media earn 20-40% more revenue per customer…”

Let’s face it, even though not all problems can be solved without speaking to the customer. Most do not want to sit on hold over the phone for however many minute it takes to get their problem solved. Most people want an answer as soon as possible, and social media can help your company solve the issue quick and make the customer happy enough to be a return customer instead of turning to another similar business. Quality is key. Consistency is another that consumers appreciate when looking to get something solved.

Cost Effectiveness

Most of these channels are free, it’s that simple. Growing your presence on social media is much more cost-effective than some traditional ways of marketing. Advertising in newspapers costs money, as do business cards, flyers, printer ink, and such. But signing up for social media is free. After your account is created, then you should research pricing for ads, classifieds, or other marketing techniques, but getting started only costs you some time and creativity.

Communication

A huge perk of social media is being able to communicate with like-minded individuals and it offers you ways to be more personal with your customers. Do not be afraid to ask them questions about their interests. What they look for in a useful product? Even what you as a business owner can do to make their experience better with your company. Be sure to listen and consider what your customers or potential customers say, it can be the difference between a thriving business or a business that went under in a short period of time.

Social Media is Popular

If it weren’t obvious to you already, social media is very, very popular and it isn’t going away anytime soon or even in the near future. If you want your business seen or heard of, then you need to use as much social media as you can keep up with, do not just rely on one channel. Most businesses use multiple  networks as does the general public. Be present on as many as you can.

While the reasons to use social media for your business are many. All you have to do is do your research. Then get to work. Your future in business may depend on it.

** Resource: http://www.bain.com/