One HUGE marketing mistake you need to avoid.

Making this marketing mistake will be detrimental for your brand.

Marketing Myopia:

"a form of business "near-sightedness" where images of distant objects (the big picture) become out of focus because we bring them too close for us to see them clearly."

Sometimes brand managers suffer from marketing myopia because they are too close to their products. This limits their ability to adapt to market conditions changing.

A huge example of this is Blockbuster. They were too focused on their products rather than market changes. They completely disregarded the rise of Netflix and other streaming services. Blockbuster ended up closing their doors in 2010 because they failed to listen to their customers and the changes in the market.

HOW DO WE AVOID THIS?

1) Provide Value:

What sets your brand apart from your competitors? If your products aren't unique or useful, what makes your think consumers will want to buy them?

2) Create a Brand Persona:

Know who your target market is. How are you going to build a business around your customers if you do not know who your customers are?

A brand persona is a fictional representation of your brand. Such as, gender, age, lifestyle, income, location, behavior, etc. This help you and your employees easily understand your target

3) Nurture Your Customers:

Have great customer service. Treating your customers with respect is a marketing strategy in itself.

But how? Maybe your brand wants to create a personal 'thank you' with the products they send to their customers. Or send them a "hope your doing well" email or text (this will make the customer feel like you care). Or send a coupon in the mail as a 'thank you' for being a loyal customer. These are just a few ideas to make your customers feel a little more special.

4) Be Adaptable.

The world is ever changing. You need to keep an eye out for the future. There will always be new ways to promote your brand on different social medias. Stay up to date with the trends.

Be open to new ideas, new was to market, new technologies.

(This is where Blockbuster went wrong. They were so stuck in their ways and couldn't adapt to change.)