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Home Home and Family Home Business 3 Common Marketing & Business Gaffs That Will Destroy Profits
3 Common Marketing & Business Gaffs That Will Destroy Profits PDF Print E-mail
Written by Andrew Parker   
It is feasible that the percentages for IM business failures is very similar if not higher than that for offline businesses. For many years I've read the same statistic that 80% of offline business owners fail within two years. It is impossible to know all the individual factors why so many people fail at internet marketing. One huge basic category that contains perhaps most of the causes are mistakes in the execution of business - marketing and advertising. Frequently people are wrong when they come to the business table in the first place. But when it is all said and done, it really does not matter what caused it; but rather the outcome is enough for most people.
by AndrewParker


It is feasible that the percentages for IM business failures is very similar if not higher than that for offline businesses. For many years I've read the same statistic that 80% of offline business owners fail within two years. It is impossible to know all the individual factors why so many people fail at internet marketing. One huge basic category that contains perhaps most of the causes are mistakes in the execution of business - marketing and advertising. Frequently people are wrong when they come to the business table in the first place. But when it is all said and done, it really does not matter what caused it; but rather the outcome is enough for most people.

It is easy to follow the mistaken belief that providing enough choices for people will surely capture the greatest number of them in your marketing and advertising net. We all like having options, so it is an understandable feeling to want to provide them to possible customers. However, options are often a killer of sales, but yes it can depend on the situation. But in general, you don't want to offer a load of options - even one option can be too many. You see, it has to do with human nature - in certain situations people have a hard time with decision making. That can be especially true with purchasing decisions. Purchasing indecision is perhaps the perfect killer of sales.

If you can be correctly described as being, cheap, then that is fine but just make sure you do not assign that mindset to everybody else. We are talking about imagining everybody buys at the cheapest possible price - that is patently false. Take a look at watches, for example, there are cheap and expensive watches. As you know, many higher priced products have existed for a very long time. So then you realize that if these companies can survive for that long, then obviously people are willing to pay more for them. People want to spend a lot on certain things for their own motives. If you have a good to excellent product or service, then understand how to properly market your products/services. The important thing is for you to understand the selling psychology behind expensive items.

Every now and then you may get an idea for something and perhaps assume just about everyone who sees it will want it. It is feasible that many people have had that kind of thought. Marketing and advertising history has its fair share of examples about products that appeared to be bought by almost everyone. Yet there is no individual product or service that everybody has bought. What you'll need to be careful about is when you have that thought it will make you lazy in your promotional work. If you begin to picture your product will be universally liked, then that will lead you down harmful paths. The basic fact is you are unable to satisfy all people with any kind of particular product or service offering.

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