Three marketing mistakes by SMEs
When small businesses do not apply marketing principles, they do not grow
Small business
When small businesses do not apply marketing principles, they do not grow
It’s a myth that small businesses do not spend money on marketing. They spend money on tactical activities, which aim to increase sales. Sales promotion is just 2% of marketing.
Bernard Jansen is a marketing consultant for small and medium companies. He shared three mistakes by small and medium companies. One, majority of businesses think that only advertising (promotion) is marketing. To grow, businesses need other strategic tools such as right product, distribution and pricing. Two, small businesses rely on sales to get growth. It’s marketing, which paves the way. Three, businesses rely too much on social media. Old school marketing tactics are more effective.
Bernard Jansen wrote, “ Marketing must be one of the most questioned and discussed topics on the internet yet it surely generates some of the smallest amounts of revenue in terms of seeking professional advice. Most businesses read “free” opinions and execute blindly.”
What should small businesses do? One, they should use all marketing tools. Two, they should invest in marketing, which leads to sales. Three, businesses should not obsess with social media.