Another common mistake I see business owners make when putting together a marketing plan is GOING WITH THEIR GUT, which is defined as “To trust or follow an intuition or instinct, as opposed to an opinion based on logical analysis.” (Source: The Free Dictionary)
For marketing purposes, I mean:
- Not doing research
- Not collecting feedback
- Making decisions based on guesses & estimates vs. facts & figures
The results of GOING WITH YOUR GUT becomes a domino effect:
- Misjudge target customer
- Ineffective marketing tactics
- Waste marketing dollars
- No results or low ROI
Instead of GOING WITH YOUR GUT, here are five action items that should be done before you create your marketing plan:
- Analyze past marketing activities to determine what worked and what didn’t.
- Identify business challenges that your marketing will need to address.
- Get customer feedback including how they found you and why they chose you.
- Look at how your competitors are marketing.
- Review financial numbers to determine your marketing budget.
All of this ensures that you make informed, educated, and realistic decisions for your marketing plan.