The world of marketing is fast-paced and always changing. It can be hard to keep up. There’s a lot of misconceptions out there about marketing your business and we are here to debunk five of the most common marketing myths.
Myth 1: Marketing is the same as advertising
While marketing and advertising often go hand in hand, there is actually a significant difference between the two.
Marketing refers to the ongoing plan that scopes the entire process of selling a product or service – everything from branding, design, strategy, SEO, web development and social media.
Whereas advertising is just one aspect of your marketing plan (but a very important one at that!) This encompasses creating, placing, and promoting ads across different channels to spread the word to your audience about your company. The key to successful advertising is to make sure your messaging is consistent with all other aspects of your marketing.
Myth 2: It worked for another company, so it will work for us
Successful marketing isn’t a copy-and-paste solution for every business.
Each business has its own brand, messaging, products/services, and target audience. So your marketing efforts need to be unique to your company! Be authentic with your marketing. Really knowing your audience and your brand messaging is crucial for devising a great marketing strategy tailored to your business.
Myth 3: Marketing is for only attracting new customers
Actually, acquiring new customers is only half the battle. It’s important to make sure your marketing efforts not only bring in new customers, but also retain the ones you do have!
Incentivizing your current customers to engage with your brand and keep them coming back is crucial for successful marketing. Otherwise, you will forever be chasing after new customers and losing them just as quickly as they came.
Myth 4: Marketing should deliver fast results
If you aren’t seeing an immediate payoff in your marketing, something must be wrong….right? Nope. Marketing takes time.
While digital marketing has faster results than traditional marketing methods, it still takes consistency and data analysis. It may take several clicks and website visits before a consumer converts into a customer. And then from there, you must use that data to tweak your marketing strategies to make them that much better.
Myth 5: Great products and services sell themselves
Having quality products or services is great, but what good is that if no one knows about it? Chances are, you have a competitor or two. And if you sit back and wait for customers to find you, it’s very likely that your competitor will get to them first.