Mistakes SMEs Do in Marketing
Marketing makes or breaks a business, reason why big brands splurge on marketing on different
platforms. However, just like every decision in business does not yield desired results, marketing too
sometimes fail partly or out rightly. Big names or brands, can afford to forgo the wastage of time money
in undesired results due to the cushion in budget. But small businesses or SMEs, in particular, do not get
that cushion as they run short on time and resources and so there is little margin for error for SMEs.
This is not as much to say that SMEs should not think about using the power of marketing, they should
know the right approach to marketing. Much as they need to know what to do in marketing, they should
better know what not to do in marketing to avoid the common mistakes SMEs often commit.
If you are an owner of SME business or are mulling plans to start your own business, sooner or later, you
should take note of these don’ts that will give your business the boost it needs to become a brand.
Not Believing in the Need of Marketing
Some small business owners often have preconceived notions such as their business is too small to need
marketing at all and they do not need marketing for their products to be sold. Certainly some products
and services are strong enough to do that, but not until after people know about them. If you aren’t
marketing your business because you think what you have to offer will handle it itself, then you are
missing out on opportunities to earn new business, let alone establishing your business a brand.
Some time small business owners think they do not have the required budget to indulge in marketing.
This idea stems from the lack of knowledge about or willingness to try new marketing approaches.
Digital marketing is the new marketing technique which costs less than traditional marketing campaign
and hence is suitable for small business owners or SMEs.
Not Having a Marketing Plan