10 Mistakes in Marketing: Introduction (02:18)
Psychologist Peter Quarry invites marketing professional Carolyn Stafford to demonstrate the ten most common mistakes business make while trying to advertise their product.
Mistake 1: Losing Sight of the Big Picture (02:09)
Carolyn Stafford offers has a 10-step process for identifying what the "Big Picture" is for a business concerning their customer value proposition.
Mistake 2: Using a Scattergun Approach (01:17)
Without a long-term plan or vision businesses often find themselves only using marketing tools randomly in crisis moments.
Mistake 3: Slashing the Marketing Budget (01:01)
In lean times, businesses typically look for ways to reduce costs and cut spending; Stafford recommends the opposite approach.
Mistake 4: Any Client Will Do (01:02)
By building a willingness to readily accept any client they can get, a business may be setting itself up for turmoil when competing client needs arise.
Mistake 5: Reducing Staff (00:58)
When finances are strained, companies may consider reducing staff members. By doing so, the company may also reduce its ability to attract new clients.
Mistake 6: Communicating Poorly (01:28)
Maintaining effective and informative dialogue with those “already within the fold” is a key element of marketing success that should not be overlooked.
Mistake 7: Stop Networking (00:57)
If a business stops making new contacts, it is likely going to stop making new clients.
Mistake 8: Not Seeking Professional Help (01:26)
Stafford recommends not waiting until the business is in a crisis situation to invite outside professionals to assist the company’s growth.
Mistake 9: Being Slow to Adapt (01:10)
In difficult or changing times, a business should be nimble and ready to adapt to different approaches; adopt new innovations, strategies, or pricing.
Mistake 10: Reduce Investment (02:18)
Investing marketing expenses into technology is the future and the present. Stafford suggests maintaining significant portions of an available marketing budget in online and Internet features.
Credits: 10 Mistakes in Marketing (00:29)
Credits: 10 Mistakes in Marketing
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