It is common awareness that far more people don’t succeed at doing business online than succeed. Only about 20% of all new businesses in the US survive more than a few years. It is impossible to know all the individual reasons why so many people fail at internet marketing. Mistakes of all kinds, spread out all over the place, are perhaps the single biggest killer of online goals. This activity of creating wealth online allows for misinformation of all types across the board. However, when someone goes down in flames and they have failed, then that is enough for most people to cause them to quit.
Here are 3 common marketing & business mistakes that will kill your profits, no matter what business you’re in:
1.)Possibly most people will naturally think that giving customers the greatest number of options is a good idea. Since nearly all of us also like choices, there is a proper time and place for offering them as marketers. Giving folks a range of options usually tends to be a flawed approach if you want to make sales. But in general, you don’t want to offer a load of options – even one option can be too many. You see, it has to do with human nature – in certain circumstances people have a hard time with decision making. Unfortunately, that very much is true when it comes to deciding what to buy. They can be filled with a great deal of doubt that it is far too convenient to just ignore it and not buy.
2.)All of us tend to assume others think the way we do; and that is why you should not think everyone is cheap just because you may be. What we are getting at is the erroneous assumption that all people want the most rock bottom selling price. Look all around you, there are cheap, inexpensive, and outrageously priced goods and services in all markets. As you know, many higher listed products have been around for a very long time. The fact that they have existed for so long instantly dispels any myth that all people are cheap. People want to spend a great deal on certain things for their own reasons. If you have a good to excellent product or service, then understand how to properly market your products/services. What you’ll need to do is find out how to position your product in your marketing material.
3.)Have you ever had the notion that a product or system was so great that everyone must want it, or that everybody will buy it? All of us have at one time or another. Yes, there have been more than a few products that have been wildly popular. But there has never been a product from a single company that everybody on the planet purchased. The danger of this line of thinking in your own business is, it can easily make you complacent and fail to market or advertise as much as you should. It will be so easy for you to stroll the path of unrealistic expectations once you have that frame of mind. The basic fact is you are unable to satisfy all people with any kind of specific product or service offering.
Question: What other major marketing& business mistakes do you know? Please share with us in the comments below.