There are a lot of different ways to market your product or service, and depending on what you offer, many marketing avenues can be very effective. However, there are a lot of marketing pitfalls out there that will do nothing more than just suck your money. Of course, it all depends on your target market, as that’s the most crucial part to understanding which marketing tactics will be successful or not. Once you understand your market, you can decide for yourself which marketing risks to take and which ones to avoid. In general, however, the following marketing strategies tend to be more pitfalls than successes.
Content marketing is one of the most popular ways to reach a new audience in today’s media-heavy culture. However, there is a big difference between regular content marketing and paid content links. If you’ve ever read an article online, then you’ve seen it. An ad near the bottom that links you to “suggested content,” which then takes you to an entirely different website with new topics. If that article’s author doesn’t specifically suggest the links, then it’s content that is paid by advertisers. In most cases, though it does vary depending on product and audience, the price you’re paying for a listing is far more than any return on that investment.
Television, film and product placement
The field of marketing is rapidly changing, and professionals are finding many new ways to reach new audiences. One of the quickest growing marketing opportunities is in television and film. But this isn’t your standard 30 or 60 second commercial clip. Instead, businesses are coughing up big bucks to have walk-on cameo roles, mentions of their product on local stations, or even the use of their product by a celebrity on television. These big bucks unfortunately, don’t translate into much of a benefit, especially considering the hefty price tag that goes along with having your logo splashed across someone else’s television set.
Media print advertising
Of course, print advertising can be very successful, the problem here lies in ensuring you’re marketing in the right publications. For example, what good would having a mention in the Wall Street Journal be if you were not a financial firm? The cost of advertising in a large publication is significant, so it’s crucial that you spend the time to ensure you’re spending money in the right places. Make sure you think about who reads the publications in consideration — who is their target market? If their market aligns with your market, then you’re in the right place. However if it varies, even a little bit, then it’s worth a little more investigation before you whip out your checkbook.
This article was written by Deborah Flomberg of Examiner.com for CBS Small Business Pulse.