5 Common Marketing Mistakes You Need to Look Out For

Email marketing techniques were used to reach customers in the past but when it became abused and consequently they disregarded it. Lot of marketing agencies are now adopting the new tactics. The technique has expanded with online cross-promotional media options. The driving force behind marketing id the ability to gather useful information, this can be achieved through market research, collecting questionnaires and receiving customers’ feedback. There are ways organisation can split its customers and prospect segments with similar needs and develop different means of communications to each segment. These improved techniques can help sales managers to reach their potential clients, although there are certain mistakes that may prevent them from reaching their bottom line. According to expert, we have highlighted some of the mistakes to avoid. 

Abandoning your past clients
Sales people lose customers because competitors attract them with discount and other exciting benefits, trust and reliability of services have been disrupted by failure to deliver. Managerial change may leave a communication breach as regards to the strength of services or products. Treating your past customers like new one in order to refresh the relationship and win them over. You need to learn the real reason why some customer left and improve on your sales tactics. Learn about what went wrong. Was it an issue of price, the level of service, the quality, distribution, arrogance, ignorance or interest in keeping the business or was it some other major or minor mistake? It is very important for you to stay in touch with your previous customers. PAY ATTENTION: Advantages of incorporating small business in Nigeria

Learn about social media abuse
in the past, social media marketing is widely known to be inexpensive, effective marketing tools and often endorsed as useful instrument for small businesses. Social media marketing is a complex marketing tool and if used in the wrong way can harm your marketing approach rather than help. To avoid misuse, designing a social media marketing plan is important which involves strategically by identifying your target clients with clear messages. Use a marketing research to understand when your clients are online and create a brand presence. Passing helpful information to your followers; never spam your customers if you do you will quickly lose friends. The opportunity presented by hash tag trends to deliver your message in a timely order.

Having the wrong attitude
A wrong attitude will be revealed when you interact with your customers and will definitely rub off on your sales performance. Your right attitude will impact tremendously on your sales success and will ultimately play a huge role in your career. Most sales people with negative attitudes struggle and have very difficult closing sales. Research about what other perceive about you can also help. You can ask those close to you help identify your negatives attitudes. A pessimistic attitude can destroy your sale execute. If you have a negative attitude, it can be corrected by associating with people who are experienced in that filed.

Losing focus
Some common sign of lack of focus are seen among sales executive is their ability to give excuses for everything that happens. Regular complaint over personal needs and what they have will make the sales persons lose focus. This same attitude is exemplified by losers who often focus on what is missing, the goal they have yet achieve and what they cannot do. Winners are always grateful for the wins no matter how big or small it is and focuses on what they want, have and what they aspire to do more.

Selling by numbers
Your ability to connect with a lot of customers will also determine the amount of sales success you will record. New prospects should not be abandoned but marketers should be able to discern the ones that would eventually produce the expected results. To succeed as a sale executive, you need to learn to connect with all your prospects, you should spend extra time winning the heart of the qualified ones.

Keeping Records In Business A Guide For Small Business Owners
Adequate record keeping helps to keep track of business performance. In spite of the size of the business, keeping up to date records is very crucial because it helps to keep track of your business income and expenditure and it is a part of the legal requirement of every business. Record keeping must be conscientiously done to identify sources of income and receipts, identify expenses paid or owed to others; to determine the kinds and values of assets; prepare financial statements, forms and reports; track financial progress and plan for the future. Good records keeping ensures that filing of tax returns are easily and promptly, makes it easier to obtain credit facilities, makes auditing easier and give adequate information for business expansion and growth. All financial records whether sale was made or an expense was incurred and paid must be kept for a period of seven years or more. Documents such as bills, receipts, invoices and bank statements should be kept as evidence that your records are accurate.

Financial statements must provide a clear picture of the state of an organization. Furthermore, the people who are affected by the business financial condition must have access to the information and be able to analysis it to draw conclusions about the business’ financial health. Most of the common records are cash receipts, depreciation, special assets, tax and payroll records. Below we are going to explain in deep detail.

The cashbook
A cashbook is a register that keep track of the different cash receipts and payments of a business. Updating the cashbook daily will help to track how much money is coming in and going out of the business, determine the daily purchases, plan and save prepare end-of-year financial accounts and assist in reducing accounting costs. These records can be kept electronically adding that software that are easy to understand and use have been designed to make the task easier to carry out.

The tax records
It is imperative to file an income tax return of employees at the end of every tax period of financial year. In order to prepare an accurate income tax return and support the payment claims, accurate tax records makes it easier to make tax audit. When the records are no longer needed for tax purposes they can filed away for future purposes. All employment tax records should be kept for at least four years after the date that tax was paid for auditing purpose.

The employee records
As stipulated as part of the roles of human resource managers in an organization, information about an employee should be documented right from the application derails to the last pay slip. The information should include personal information, employee’s name, address, occupation, sex and birth date, total hours worked each workday and each workweek. Employees are required to keep records of the vacation time earned since the date of hire and all information related to the employees’ maternity leave for female married workers. Recently, Nigeria government introduced a new payroll system called the Integrated Personnel and Payroll Information System for the civil service. The new method was designed to improve effectiveness and efficiency in transactional services; enhance confidence in payroll costs and budgeting; greatly improve management reporting and information; enhance the process that had constrained the availability, reliability and timeliness of important information and foster reliability of personnel and payroll system being a key component for policy and decision formulation on revenues, priorities and budget. PAY ATTENTION: 4 Ways that Poor Cash Flow Can Damage your Business

The asset records
Keeping an asset records is an integral part of any business management and managing stock investment by keeping accurate records is equally essential. Business asset are important to taxpayers because they provide information necessary for depreciation expense deductions. Financial lease must be recorded in the assets register because it finances the cost of a leased asset. When you dispose of an asset through sale, giving it away or throwing it away, it is a vital update your asset register to include the date of disposal. Don’t be tempted to delete the assets from the asset register until after the end of the financial year as the information needs to be incorporated into the annual statement of your financial position. At the beginning of the next financial year, record disposed of assets separately. The board needs not involved itself directly with the conduct of the assets register but must be satisfied that a reliable system exists and is adhered to.
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