One of the first steps entrepreneurs should take after starting their business is to publicize it to the public and attract potential customers through marketing. A customer can’t find and buy a business until they hear about it first, and this means that marketing should be at the top of any entrepreneur who wants to grow their business.
But if you’re new to entrepreneurship, you may not know the most effective ways to market to your audience, which may lead you to make a mistake that could inadvertently hurt your efforts. Here, nine members of Council for Young Entrepreneurs share some of the mistakes new entrepreneurs often make when it comes to marketing their business, why they fall into these pitfalls and what they should be doing instead.
Members pictured from left to right.
Photos courtesy of the individual members.
1. Teaching without entertainment
Many entrepreneurs make the mistake of marketing their brand with purely educational content, without adding any entertainment value. Brands should instead focus on content that offers a healthy mix of both – call it “edutainment.” If you want customers to buy your brand, you must first grab their attention and surprise them. Then you can teach them what makes your product great. – Robert Hoffman, Contact Studios
2. Lack of understanding of their target audience
A mistake new entrepreneurs often make when it comes to marketing their business is a lack of understanding of their target audience. They may be targeting the wrong audience or have a poor understanding of what that audience wants. This can lead to financial problems. Instead, they should take the time to research their audience to make sure a market exists. – Kristin Kimberly Marquet, Marquet Media, LLC
3. Marketing too broad
A big mistake that many new entrepreneurs make is marketing to a very broad segment. You cannot be everything to everyone. It will be a hundred times more effective if you target a super specific market and solve one very acute and very specific problem. It’s like making a doctor’s appointment: you can see a general practitioner virtually every day, but it can be months before you see a specialist. – Solomon Thimothee, OneIMS
4. Ongoing paid advertising campaigns
A mistake new business owners often make is running paid advertising campaigns. They fall into this trap because paid advertising produces quick results. However, they forget that the moment they pull the plug on the ads, the results they see are gone. That’s why it’s best to focus on gaining traction organically by creating relevant content. It is cost effective and ensures long term results. – Stephanie Wells, Formidable shapes
5. Using the wrong platforms
New marketers often make the mistake of reaching customers on all social media platforms instead of the platforms where their customers spend their time. For example, if your primary audience is people in their late 50s, you probably wouldn’t want to market your product on TikTok. Similarly, you wouldn’t pay a premium for LinkedIn ads if your product is designed for teens. – John Turner, SeedProd LLC
6. Paying too much attention to their products
A common mistake new entrepreneurs make when marketing their business is to focus too much on their products and not enough on the needs and interests of their target audience because the entrepreneurs are closer to their products. This can lead to self-centered marketing messages or messages that are not particularly relevant to the audience, making it difficult to attract and win over potential customers. – Kelly Richardson, Infobrandz
7. Assuming the audience knows more than they do
New entrepreneurs assume that their customers know as much as they do about their product or service. We fall into this trap because we are so close to the product and overestimate how easy it is to understand. As a marketer, an entrepreneur must make his marketing and brand message understandable on the basis of the lowest common denominator. Don’t assume people will just ‘get it’. – Andy Karuza, NachoNacho
8. Ignoring Content Marketing
Many entrepreneurs make the mistake of ignoring content marketing. They often don’t understand the value of creating content such as blog posts, articles, and other materials that don’t deliver immediate results. They rely on advertising instead and forget about the importance of telling stories and building relationships with their customers. What they should be doing instead is also investing in content creation. – Syed Balky, WPB Beginner
9. Relying on traditional marketing methods
Many new entrepreneurs rely heavily on traditional marketing methods, such as print or radio advertising. This can be expensive and inefficient. Instead of those methods, they should focus on leveraging online marketing strategies such as social media, email marketing, SEO, and blogging. These strategies are cost-effective, can reach a larger audience, and their performance can be tracked and adjusted. – Thomas Griffin, OptinMonster
