If you’re looking for marketing inspiration, look no further. Here are some of the biggest marketing blunders ever recorded in history. Read through the list so you won’t make the same mistakes with your own marketing campaigns:
* It was in 1975 when Betamax video tapes first appeared and grabbed a huge slice of the consumer pie. The product was so unique their marketing department never really got to work, resting on their laurels instead, Forbes recounts. The following year, VHS tapes appeared. They were able to hold twice as much data, offering consumers more viewing pleasure. The rest was history. Lesson learned: don’t think success will stay forever if you don’t put in the hard work that’s needed.
* There was a time when Burger King had a masked king, thinking this would give their sales a boost. However, instead of driving up sales, the mascot was a marketing failure, earning nothing but dislike from consumers. Lesson learned: don’t be too sure of your marketing campaign that you neglect to try it out on your target audience first. Get together focus groups or offer early samples. These should help you refine your product, services and campaign in a big way.
* Overlooking new technologies. Brass Magazine says the Martha Stewart Living Omnimedia generated income by selling premium ads against Martha Stewart’s TV as well as print lifestyle advice. However, as free online content began to emerge, it’s left the MSLO in a financial bind since 2005. That’s why it pays to explore new technologies. One excellent example are digital signages. A lot of companies now use an outdoor LED screen to display price. It’s cost-efficient, effective and engaging, which makes it ideal for marketers with small budgets. If you aren’t on the lookout for these, then you won’t be able to adapt. Or in the case of many companies, you’ll adapt too late in the game to make any difference at all.
* In 1911, the ad about the unsinkable Titanic ran. It was so convincing that White Star Line, the company that owned the luxury liner, even skimped on life jackets, thinking: why bother? Lesson learned: always leave room for doubt. Look at your campaign, product or service from every angle. Chances are, you missed something. Thinking your product is perfect from the get-go is a sure way to fail.
So if you don’t want your company to go the way of the dinosaurs, then make sure you take steps to stay relevant to your market.
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