Just as with most components of running a business, marketing isn’t a one-size-fits all task. What works for one company may not necessarily have the same results for another. But just because you may be able to adopt a different strategy than another business in your industry doesn’t mean that your chosen strategy will be flawless. In fact, just about any marketing technique may result in various errors. The good news is five such mistakes are common enough that you can anticipate them and plan ahead to avoid committing them for your business.

Forgetting About Existing Customers – Aiming for new clients is an essential part of any business that wants to experience growth (and, who doesn’t), but don’t forget about those loyal customers who helped you get your start. More importantly, not only is obtaining new customers much more costly, but studies have shown that existing customers spend an average of 33% more than new ones. Can you afford to lose that? Make your existing clientele feel important and valued by offering perks and rewards for repeat business.

Approaching Social Media Too Broadly – Some businesses make the mistake of trying to be all things at all times on social media. What inevitably ends up happening is that it quickly becomes overwhelming and many simply abandon the strategy altogether. Instead of spreading yourself too thin, figure out where the largest concentration of your target audience is likely to be, and focus your efforts there. This is much more manageable, and will set you up better for success.

Dropping Prices Too Low – Some companies think that they can increase sales if they just drop their prices a little bit more. While this technique may work for mega corporations like Walmart, it’s not necessarily the approach a small business should take. In fact, this can be dangerous and you may end up losing money in the long run. Instead, try other alternatives, such as adding a ‘9’ to the end of your prices (like $9.99 or $49). Research has shown that psychologically this makes people feel that they are saving money.

Not Clearly Telling Your Story – Most businesses need some type of funding, but in order to get it, you have to be able to clearly and accurately deliver your story – your mission – to investors. If you can’t, chances are, nobody will buy into what you are trying to do. You are surely passionate about what you do, so let that passion come through in your thoughts, words and actions and make sure you’ve got your ducks in a row before you pitch for funding.

Not Keeping Online Info Up to Date – Would you allow the front of your brick and mortar building to become old and dilapidated? Of course not! That would turn customers off and cost you business. Your online presence should be the virtual front door of your business; therefore it should be treated with as much care as your physical one. Make sure your website and blog are kept up to date, and that your online prices are accurate at all times. Otherwise, you risk losing a ton of potential new business.

Marketing a business isn’t an easy task, and it’s often a trial and error experience. Knowing what things to avoid can help keep you on track and better prepare you for success.