Marketing Problems That Are Eating Up Your Profit
Not Giving Marketing a Chance
Acquiring Email Lists
The issue with email lists is that most of them simply don't target your desired demographic. If you run a video game store, for instance, what is the point in getting a list where only 25% of the people play games? Because these lists are not often targeted, research shows that open rates drop to near-zero as a list becomes more public and used. Even though you might find affordable email lists to invest in, it's really not a great deal if you're not reaching your target audience.
Buying Misguided Strategies
New advertising tools are seemingly always coming out, and in some cases, they can prove to be a good asset. The development of pay-per-click ads, for instance, was a enormous shift in marketing. Unfortunately, most of the newest marketing tips are simply full of false hope. When there is no hard evidence that a new method works just yet, it's better that you hold off on investing in it. Wait for large businesses to try out these new methods, and if they end up working well, you should have plenty of time to remodel your strategy.
Clipping Your Losses Too Early
One thing every marketer should know is when to give up on a strategy that is not working. Unfortunately, many marketers give up too soon. There are those out there who expect immediate results, and that is just not the way marketing works. Giving up too early on a system that would prove effective is just as bad as wasting money on one that proves unprofitable.