7 Marketing Mistakes You’re Probably Making
In 2019, we invited Danny Tran to share his experience at the European Innovation Academy. In the interview, our alumni shared how he turned one of the hardest moments in his life into a business opportunity.
Five years after joining EIA, the young entrepreneur has a successful business that in 2020 has officially managed over $1 million in advertising spend.
In this article, Danny Tran shares the top 7 marketing mistakes he found out at Highstoke Media after generating multiple 7-figures for its clients.
1. Not Understanding Your Target Market
Not understanding your target market. It blows my mind how many marketers do not understand their audience. Your target audience is not “everyone.” By speaking to everybody, you speak to nobody. Identify and understand your specific niche so you can absolutely dominate it.
2. Selling The Product And Not The Problem You’re Solving.
Nobody cares how great you are at X, Y, and Z. Every person you’re selling to has a specific problem/desire. Understand exactly where your prospect is (current situation) and where they want to be (desired situation), then bridge the gap between Point A and Point B. That’s how sales are made.
3️. Stopping After You Find Your “Winning Formula.”
Can’t stress this enough but NEVER. STOP. TESTING. Can’t tell you how many times we’ve had ads and audiences dry up and we’re scrambling to find the next working thing only to have underwhelming results. There is ALWAYS a variable to test. The day you stop testing is the day your advertising game stops improving.
4️. Not Capturing Your Audience’s Attention.
When it comes to social media, your ads literally have a split second to attract somebody. Keep this in mind next time you’re building your creatives, thumbnails, headlines, text previews, etc. You could have the world’s most kickass offer, but it doesn’t matter if you can’t capture and maintain interest. Attention is the most important currency.
5️. Not Having Enough Touch Points.
Understand that sales cycles can be long. Having multiple touch points that obliterates a prospect’s objections from different angles will always win the game. You ever visit your favorite online store and have an ad follow you around for weeks until you finally buy because it all of a sudden “makes sense” and is “so worth it” now? Everybody has a different conversion window so make sure you’re in the right places at the right time speaking to your prospect’s emotions.
6️. Not Staying Three Steps Ahead and Putting All Of Your Eggs In One Basket.
Have backup plans and two more backup plans for those plans. In the world of marketing, things hits the fan real fast. One small change or fire can literally cripple your business overnight. Stay prepared with the ever-changing digital landscape. Nothing is ever guaranteed.
7. Most importantly, Not Having Enough Patience.
Stop touching things and just let the algorithm do its thing. Patience is literally the key to success and you have to be able to weather the storm when money temporarily “goes down the drain.” Sometimes the most crucial decisions you’ll have to make are based on educated gut feeling and not precise logic.
Marketing is never black or white… it’s ever-evolving. And that’s honestly why I love the game so much.
Want to learn more? Connect with Danny Tran on Facebook or Instagram and Facebook!
- AIA (22)
- Alumni (25)
- E-learning (4)
- EIA Hong Kong (9)
- EIA Italy (8)
- EIA Portugal (12)
- For Businesses (5)
- GEES (2)
- Innovation Academy (76)
- Inspiration (19)
- Mentoring (20)
- People of EIA (15)
- Pro Tips (9)
- Quiz (4)
- Startup Education (35)
- Study abroad (12)
- Success-story (25)
- Tips & tricks (9)
- Uncategorized (1)
- University Spotlight (13)
- We are hiring (2)