Marketing can be useful for a business, or it can drain your budget. Most companies at least once wasted money, thinking it was justified. So it may seem at the time of distribution of funds. As a result, you see that there is no result, and the budget too. In this article, we have compiled the most common marketing tactics that can empty wallets.
- Constant rebranding
Branding is one of the most important marketing tools. It allows you to identify your brand among others and forms a specific message and mood. Its development must be approached responsibly. It should be consistent with the brand concept and not cause negative emotions. Yes, this is important, but you need to understand the line between what really will bear the fruits of investment and what will not.
If you are a startup, you need to decide for yourself at the beginning of the way that the created branding is with you for a long time and there is no need to change it several times a year.
The problem is that there is a trend showing active rebranding even among large companies now. However, for young businesses – this is impractical. Of course, it may seem to you that the developed logo does not completely satisfy the needs, but it is better to avoid these thoughts. After all, such an approach will eventually empty your budget. If you dig deeper, you will understand that there are more priority things for your startup than another rebranding.
Rest assured, there is much to allocate funds for development more efficiently. For instance:
- Image. According to the data, 81% of consumers claim that they need to trust the brand in order to deal with it. Therefore, it is extremely important to develop a strategy that will associate your brand with reliability and honesty. An excellent option would be to improve the service and work with influencers.
- Sell digital downloads for WordPress. Does your business sell digital products? Work on improving the functionality of the site. The convenience of making a purchase significantly affects whether the consumer returns to you again or not. Therefore, the use of special solutions that allow you to confirm the purchase and get the product to the buyer is an important component.
2. Substandard content
Good content cannot be cheap, and the worst that a company can do is to buy low-quality articles. The site is a key point of contact with the target audience. According to its appearance and content, users will form an opinion about you. Therefore, it is important to take care of its quality.
Have you ever thought about the reasons for bad texts? Often this is directly related to understanding the audience. If you do not know your customers, you are unlikely to offer something interesting for them.
Suppose you are planning an advertising campaign, there should be a clear message on it, reaching the value of the proposal. However, if the text is not written well, you may not hit the target without getting the attention of users.
According to studies, content marketing generates 3 times more leads than traditional marketing, and costs 62% less. High-quality content takes into account the characteristics of the target audience, well shows the benefits of using the brand. Remember this and never waste your budget on bad content. Do you want to look solid in the eyes of consumers? So the common ground should be the same.
3. Using bots on social media
Sometimes the ambition to develop is so high that you want to do everything to speed up this process. In the desire to become popular on social networks, brands often resort to buying fake subscribers. But how good is this option? Let’s think it over. The main goal of social media is to expand readership, which in the future will become customers. Therefore, when it comes to subscribers, it is important not quantity, but quality.
Bots will never buy from you, and what’s more, Instagram algorithms will notice suspicious activity and may reduce the reach of your publications. In particularly difficult cases, this can lead to a profile lock.
If it seems to you that this is a cheap way to get a large audience, it is not. Perhaps this is relatively inexpensive, but do not expect the effect of this.
To pump your Instagram, work on creating quality content, use official Facebook ads and collaborate with influencers. This is what really helps to make the brand recognizable among subscribers and gain customers.
4. Work with incompetent marketers
A good marketing consultant can help to avoid a lot of mistakes. However, if you are working with a dubious specialist, it could be the other way around. You just spend time and money.
A professional will always say what the situation is real and will not promise the impossible. If you are told that everything is possible and for a little money, most likely this is not so. To avoid unpleasant experience, it is better to contact specialists for recommendations.
Do not waste your strength and resources. Think about what will really be profitable for your company. In an effort to make perfect, easy to get confused and stop distinguishing strategically important decisions from those that simply waste the budget. Make a list of goals, discuss them with the team, and move on with a clearly defined plan. This will help to achieve outstanding results and not spend finances on unnecessary things.