Finally, Andrew got a chance to ask Chieruzzi and Biondi what they, as investors, founders, and advisors, think are the biggest marketing mistakes to avoid when running a business.
“I would be very cautious of any startup that is reliant on a single marketing channel to acquire customers because that’s always risky,” says Chieruzzi.
Moreover, among other common digital marketing mistakes, they mentioned that as investors, they’re very cautious of founders who either experiment too much or don’t experiment at all. They say that experiments are important, but you need to know when to stop and double down on what works well for your business.
Finally, they said that one common thing they see is that many founders focus on one area like product, or sales, or marketing, and do not invest enough time or resources into the others. In the meantime, the winning scenario is to even out your efforts, make the three work together in sync, and build a strategy that would determine the next step for each one of these departments. This is usually one of the marketing mistakes made by big companies. But startups are not immune to this either, unfortunately.