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Marketing Mistakes to Avoid

BREAKING PROMISES

Coming up with an effective company promise or slogan is not difficult. However, consistently following through with this promise can be a challenge for some companies. Companies who offer promises and raise expectations of their customers only to disappoint will quickly develop a reputation for themselves.

OPERATING A CAMPAIGN BASED ON BAD DATA

Data that you gather about your customers holds high importance when you are designing your promotions. If this data is wrong, you may end up spending large amounts of company money with little results from consumers and a low ROI. According to Econsultancy, inaccurate data affects 88% of companies with an average company losing 12 percent of its revenue.

Data is usually gathered from control groups. Within these control groups, some data will show that certain promotions drive encourage positive consumer engagement and high returns on investments. Often companies will push to create promotions that appeal to these groups of consumers and will lose focus on other groups. However, some companies have found that although the data shows high engagement among certain groups of consumers, the audience’s willingness to convert and actually make purchases is very low. Thus, the idea of not putting all your eggs in one basket applies to the world of advertising campaigns.