Marketing is an incredibly broad category. From social media, digital, inbound/outbound and content marketing (just to name a few), there are so many ways to promote a business, product or event. With a subject as broad as marketing, it is quite easy to find many pieces of misinformation floating about that businesses may unfortunately decide to follow.
In order to market effectively, it has to be done right, which means those in the marketing field have to have the ability to separate fact and fiction. In today’s blog post, we will cover some common marketing myths in an effort to help you market efficiently and stray away from anything that may be holding your marketing efforts back.
Marketing Myth #1: Small Businesses Don’t Need to Spend Money on Marketing
This myth has the potential to seem plausible because small businesses typical don’t have large staff counts or a sizable marketing budget in the way that large businesses often do. With that being said, simply because a business is small doesn’t mean that skipping out on marketing is the right or necessary thing to do.
Marketing is an essential tool for small businesses. It will just take more planning and effort since there is either a small budget (or no budget) in place. Closely monitor marketing campaigns and immediately address any issues that may arise. Also searching for ways to market for free or less is key: social media is used by millions upon millions of people each day, that is a great place to begin.
Marketing Myth #2: Marketing is Easy
While marketing in theory may seem simple, it is actually very layered, multifaceted and involves heavy planning and research. Marketing novices may think marketing simply entails social media posts, but there is so much more that comes with the territory.
Marketing takes a lot of time, effort, energy and yes, even money. In order to market effectively, you have to stay on top of current marketing trends, constantly analyze and track your marketing campaign efforts and even examine your competitors closely. Marketing campaigns may fail or fly, but these efforts require a round the clock effort.
Marketing Myth #3: Marketing is Only Done When Searching for New Customers
Marketing is about more than just increasing your pool of customers. Many businesses use marketing to increase their brand awareness, provide an additional form of customer service, share company information, promote business, maintain their customer base and yes, bringing in new customers.
If your business’s first (and only) concern is bringing in new customers, you will lose them quickly because you haven’t prioritized customer retention and what it takes to earn their trust and loyalty for the long haul. Look at marketing as a way to expand your business in all of its forms: its brand, what it has to offer, expanding its customer service reputation. Marketing does it all.
Marketing Myth #4: You Should Expect Fast Results
Your business’s marketing efforts should eventually bring about results, but it is important to be patient and not expect major changes only a few minutes, hours and even days after a marketing campaign begins. If you find that a campaign wasn’t effective once it ends, it is obviously time to go back to the drawing board and learn from your previous campaigns.
Organic marketing campaigns such as SEO implementation can take months before noticeable results even appear. This can also happen with paid marketing and sales funnels, where it takes time to find customers that can convert their interest in your business into a sale. It is also important to remember that you may have competition, it takes time to establish your place among them and truly compete.
Marketing Myth #5: Your Business Will Sell Itself
While this may be true for large businesses that have established a reputation over a long period of time, it doesn’t work that way for everyone. Those businesses were once small ones, trying to figure out how to best brand themselves. That type of success doesn’t happen overnight. Marketing helps your business sell and establish its reputation among others in their shared industry, which is why your business being able to sell itself is a myth.
Marketing and advertising helps to push your brand out to the general public, which is why marketing is such an effective tool. Because of it, people will know who your business is and what it does. From there, the services and products you provide, will encourage customers to come back for your business again.
Marketing can be done in so many ways, which is what makes the idea of tackling it both exciting and daunting for businesses. The most important tool that any business can do when searching for the best ways to market themselves, is research. It is easy to get caught up in marketing myths, especially the ones that are repeated and often held up as the truth.