Five Mistakes Online Marketers MakeJust like a real world business, running a business requires following the rules that lead to a successful online business. Much has to do with the approach used. But like a mom and pop business, if you don't know who your market is, you'll make very few sales. Here are just some of the mistakes most online marketers make:
1. Customer AssumptionsOne of the greatest mistake marketers make lies in the assumption that the customer is interested in you and the products and services you have to offer. But your customers are interested primarily in themselves. This is a mistake many businesses consistently make. Their sales letters, presentations and ads focus on their qualifications and all the amazing features of their products but don't touch on what interests the customer. If the prospect doesn't have his needs addressed, he'll leave your site, never to return.
2. Being Too CreativeCreativity has its place. But a website loaded with bells and whistles isn't going to keep the surfer's attention for long. Between a simple website that carries a direct message to the reader in easy to understand language and one with plenty of graphics, ads and obscure promises, the simple site will keep the reader longer on the page. Your site should focus on what your product will do for the customer, not how great your design skills are.
3. Being Everything to All PeopleThe website that caters to the interests of all people hasn't been created yet. You need to focus on your product, market it to a specific target group of people and lead them to making a buying decision. The fault many marketers make is that they focus too much attention on getting a multitude of hits and not how many of those hits lead to actual sales.
4. Too Much Attention on One ProductPeople buy things for different reasons. Often the product you think will become the best seller ends up a dud. If you have several products, don't assume that the one you think is best is the one you should devote a complete web page on. While you can use more space on your site to promote your favored product, you should still give your other products attention. Later, after studying your sales results you can eliminate or reduce mentioning those products that aren't selling and emphasize your strong sellers.
5. Limiting the Belief in Market ShareEvery business must compete in order to be successful. The error many marketers make is limiting themselves to how much of the market they can capture. Being humble may be a good personal trait to have, but it can limit your sales online. Limiting your expectations means less spent on advertising dollars that could mean more sales. You can't really know how much of the market you can get if you believe the market is flat. You may lose profits if the market is expanding while you're limiting your business projections. Of course this does not mean you should shoot for 100% and throw all caution to the wind. You need to take a positive approach. Economic trends are more often upward than downward. But even in a downward spiral, there are opportunities to grab a greater market share.
Online marketing is just as competitive as any real world business. While you never meet your customer face-to-face, avoiding the above mistakes will ensure that you will get far more profits than most other online businesses.