According to reports, 50% of businesses fail within the first five years.
The reason – they don’t focus heavily on creating a full-proof digital marketing plan for their business and executing it in an efficient manner.
The latest Datareportal Report indicates that nearly 60% of the world population are active Internet users, out of which you’ll be missing out on 90% of your target audience if you don’t focus on establishing a strong online presence.
With an ever-increasing number of businesses shifting their focus on creating their own online presence, you can’t afford to miss out.
Hundreds of thousands of entrepreneurs make countless mistakes throughout their journey. Some end up costing them their top dollars, which is something you should avoid.
And that’s what we’re here to help.
This blog post lists out the top 5 mistakes you should avoid to grow your business in 2021.
5 Mistakes You Should Avoid to Grow
Your Business in 2021 the Right Way
Here’s the list of the things you should stop doing if you want to grow in 2021:
- Not Knowing Who Your Target Audience is
- Setting Unrealistic Goals
- Not Investing Your Money in Video Marketing
- Investing in Just Paid Advertisements
- Not Personalizing Communication for Every Single One of Your Prospects & Already-Existing Customers
Not Knowing Who Your Target Audience is
“Everyone is not your customer.”
– Seth Godin
Let’s say you run a local pest control business in California and are targeting people residing in New York.
In that case, you’ll be wasting your advertising spend on people who won’t ever be purchasing your pest control services.
Without knowing who your target audience is, you’ll be subject to an extremely low ROI.
And that’s a thing to worry about.
So, if you haven’t already, before running any campaigns, here’s what you should ask yourself:
- What’s my target demographic?
- Where do they live?
- Which industries do they work in?
- How much do they earn?
- What are their pain points?
- What are the everyday challenges they face?
- How do they fetch their information?
- What’s their preferred mode of communication?
- How do they think?
- Who’s important to them?
- What influences their purchase decision?
- What’ll make them end up purchasing your services?
Setting Unrealistic Goals
With the era of digitalization looming upon us, one of the biggest mistakes most entrepreneurs make these days is setting unrealistic goals.
For instance, I’ve seen business owners with the goal of attracting more than 100,000 customers within the first year of kickstarting their business operations.
Not being able to achieve these goals may end up, resulting in disappointment. Also, you may lose your faith in the power of digital marketing and its endless potential.
Remember, digital marketing is a long-term approach. With a long-term digital marketing strategy and its outstanding execution, you’ll be able to take your business to heights.
It’s best to outline your goals in the short, medium, and long term.
Also, expecting to convert all your website visitors into paying customers is one of the other deadly mistakes marketers and business owners make.
So, it’s advisable to set realistic goals.
You can do this by observing the past trend and carrying out thorough research.
Not Investing Your Money in Video Marketing
Wtih video marketing being one of the hotttest strategies in the digital marketing industry,
Statista reports the video marketing ad spend to increase at an annual growth rate of 6.5%, which will result in $45,576 million market volume by 2025.
Nearly 85% of Internet users watch online video on one of their devices.
And about 54% of the consumers have claimed that they want to see the brand producing and launching more videos.
That being said, video marketing is an actually-working lead generation tool, and 88% of the video marketers claim video marketing to deliver them a rewarding ROI.
People love watching videos, especially from their favorite brands and business.
And if you are a business owner or one of the executives looking forward to growing your business, you can’t afford to miss out on video marketing.
Investing in Just Paid Advertisements
I’ve seen most digital marketers spend all of their marketing budgets on paid ad campaigns.
While paid ads work, it’s equally important to allocate different portions of your marketing spend on SEO, video marketing, social media marketing, branding, etc.
Otherwise, you won’t be successfully able to establish a strong online presence for your business.
If you already have a strong organic following, I’d advise you to invest in creating high-quality landing pages, top-notch sales content, email marketing, and various other strategies that may help you attract a huge chunk of your target audience towards your business and convert a maximum number of them into paying customers.
Not Personalizing Communication for Every Single One of Your
Prospects & Already-Existing Customers
These days, consumers hate those forward messages they get from almost all the businesses all across the world.
Not personalizing communication for every single one of their prospects and already-existing customers is the biggest mistake any entrepreneur can make.
There’s nothing more that people these days pay attention to than a message carrying sentimental value.
Imagine how happy your consumers will be when you send a personalized “Happy Birthday” letter to your customers on their birthdays.
This will help you develop a long-lasting relationship with them and build a strong emotional connection.
However, most business owners and marketers underestimate the power of personalized communication, and you can gain an edge over your competitors by sending personalized letters, writing tailored content, running personalized email marketing campaigns, etc.
2021 has arrived. And now’s the time to level up your digital marketing game by avoiding the above-mentioned mistakes that most marketers make.
And once you are done implementing the changes, you will see a tremendous boost in the metrics and your profit sheet.
But don’t forget – Digital marketing is a long-term game. And it’s vital to be consistent with your efforts and deliver your absolute best.
So, what are you waiting for?
Scale your business TODAY!