Are you wasting your precious small business marketing resources and robbing your business of it's best chance for survival and prosperity? Are you guilty of the following small business marketing mistakes?

1. Not utilizing small business marketing research.

2. Not identifying the people most inclined to buy your products or services.

3. Failing to create a small business marketing plan to guide your business.

Small Business Marketing Mistake 1: Failing To Conduct Small Business Marketing Research.

Some small business owners think they can't afford to research their target market, competition and product development. But if you desire to be successful, you can't afford not to.

Without the information acquired from research, small business marketing is built on incomplete and inaccurate information. This dooms marketing efforts from the beginning.

If you fail to do this research, your marketing plan will lack focus because you won't have a clear marketing goal, won't know how to select the best marketing objectives to reach that goal, and won't know the best appeals for your target market.

Every penny that you spend on good research is money well spent. This is particularly true for research to determine your best potential customers, and the best way to market to them. Failing to acquire this information is the second major way that you, as a small business owner, may be wasting marketing resources.

Small Business Marketing Mistake 2: Failing To Target Your Best Potential Customers.

If you don't want to waste your marketing resources, you need to pick a target market and direct all your marketing to them. Otherwise, you market to everybody and don't sell much to anybody.

No matter what you think, everybody will not want or need what you sell. Marketing to those who won't ever buy from you just wastes your limited small business marketing resources. Instead you should spend all your marketing resources reaching the people who comprise your best potential market.

What you spend upfront to gather information on your target market, will more than return your investment in increased sales. Plus, it will save you from wasting your marketing resources on strategies and tactics that don't work effectively with your target market members.

With target market research, you'll also be able to:

focus on your best potential customers,

gather vital information about this target market, and

plan at least seven marketing efforts that you will deliver each year to your target market.

Target market research provides small business owners with information about:

the members of your target market,

the media to use to distribute your marketing messages,

their information needs and effective appeals to include in marketing messages,

how much spending power they have and what price they will pay.

Including this information in a small business marketing plan, will greatly improve return on marketing investments.

Small Business Marketing Mistake 3: Failing To Create And Follow A Small Business Marketing Plan.

This third mistake results from the first two. Without the proper research, you can't have a good marketing plan. And without a good marketing plan, you will more easily fall for sales pitches.

If you think that the only reason to have a marketing plan is because lenders want to see one in your business plan, then you are missing a valuable guide for your business and marketing.

If you haven't decided what marketing tactics and strategies are needed to reach your marketing goals, you are more likely to be persuaded by sales people to pursue tactics that are less effective and often just waste your marketing resources.

In order to keep your marketing efforts on track, you must have a marketing destination. You must know what it will take to get to your marketing goal, or you risk contributing to sales people's sales goals more than your own business and marketing goals.

Don't waste your small business marketing resources just because a sales person has a "great" promotion on media advertisements. If the advertisements don't reach your target market, the promotion is not great for your business.

The same is true for sales people who offer marketing products and services. If you don't have a marketing or business plan, you will fail to recognize when these are inappropriate for your target market. When you buy products and services that don't advance your business toward your marketing goals, you waste resources and sacrifice the opportunity to use those resources on tactics that would reach your goals.