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It might be overbudgeting the marketing compaigns. Normally, with startups you understand things on the way, so investing a lot of money into a compign will probably be a waste of valuable budget that could be invested into a product itself.
These can be many but for me following 10 mistakes can't be ignored at all:
1.Not Planning the things and skipping the planning phase.
2.Not setting the Golas.
3.Under Valuing your goods and services.
4.Avoiding New Technology.
5.Being Afraid Of Marketing.
6.Over Spending.
7.Under Spending.
8.Doing it All Alone.
9.Not Knowing who your Ideal Customer Is.
10.Not making a Comittment.
right market in the right time.
good profuct don't mean attractive prodect.
pricing methods needs to be studied meticulously.
patience.
there are some common marketing mistakes that every startup makes.
1 Spending money on 'big marketing' too quickly
2 Speaking through the wrong channels
3 Staffing up your marketing effort too quickly
4 Spending too much time on brand perfection
5 Giving everyone a voice in marketing decisions
6 Chasing competitors
7 Failing to measure results
* Hiring an inhouse staff on early basis
* neglecting to have a website
* Targeting wrong customer
* Failing to keep ourself updated or failure to review our strategy
Not bringing enough much or enough value to the marketplace to lure followers or customers.
Wrong understanding of target market, consumer need and wrong assessment of competition. Ignoring the market research findings and going against the current marketing norms in a perfect competition environment. Spending too much on marketing budget and having too many decision makers. The most important thing is product; it must deliver added advantage, value to customer and differentiate itself. Distribution is the backbone for creating availability and success, which is complimented by ATL campaign later on.
There is no fail safe method to marketing success and marketing Mistakes are often unavoidable during the early stage of business. The following are the most common marketing mistakes that startups make:
(1) Wrong marketing Strategy or failure to review marketing strategy - Marketing is not a static endeavor,it requires long term attention in order to keep pace with the evolution of business. By having the right marketing strategy you will able to make changes accordingly
(2) Targeting the wrong audience - if a business doesn't understand its audience, company's exposure may be limited. focusing on a particular audience may reduce exposure to another audience that may find your products and services useful.
(3) Focusing too much on competitors- Startups should study what others are doing and take notes, they should cultivate and build uniqueness because potential customers easily get bored with similarities.
Not being able to digest advise from the people who have been successful or know more than you. Also falling in to the FOMO (Fear of missing out) and taking rash decisions. Having unrealistic expectations (If I initially spend $500 on Marketing, I will earn $5000 right off the bat). Not willing to adapt to the change in the industry because they have made "Goal A" in their mind and they want to keep pursuing that without understanding that if something is not working for you, you still have time to change things, even the entire model if neccessary rather than sticking to one thing and going down when the ship sinks. Too be honest there are just too many real life mistakes to mention here but the above are just a few of them.
