Today I’d like to debunk some of the most common marketing myths so that you can enjoy a more enjoyable marketing experience.
"You must market your product/service to everybody"
False. Some products may have broad appeal, but that doesn't mean that everybody is going to want or like your product, and that’s okay. In other words, it’s ten times more effective to market your product to your target audience and appeal to a higher percentage of them than to aim the product loosely towards everyone and appeal to less than half. Spending time finding your market and your place within that market to suit the wants and needs of your customer is much more beneficial, especially in the long run. Plus, marketing can be expensive, so the best way to ensure you're using budget wisely, is to make sure it's reaching the right people.
"Advertising and marketing are the same thing"
Many people still believe that advertising and marketing mean the exact same thing. However, this is not the case. Here's the obvious differences:
With marketing, you have a strategy to follow that’s part of a much larger process and is usually identifying and determining customers needs and how to meet those. Whereas, advertising is simply a branch of marketing that allows a customer to promote the businesses products/services through paid channels. Advertising establishes a one-way thread of communication between the business and customer. Examples include flyers, television ads and radio. These work well because the business has complete control over the ad and how the business is perceived by the customer. Perhaps the most famous advertising space is Times Square in New York.
"Results from marketing campaigns and events should be immediate"
Not true. Just because you don’t see instant results does not mean your campaign or event hasn’t been successful. Very similar in the sense that we don't see instant results from going to the gym. Marketing is all about dedication and consistency. Also, it's very important to give customers adequate time to digest the information they've learnt about your product/ brand before purchasing. This isn't to say that you won't see a ‘flurry’ of interest around the time of a new campaign, but the end goal can often take weeks and even months. So, be realistic and be kind to yourself. A successful marketing campaign or event should be measured by how many customers or clients come back to use your business when they're ready to make the purchase or need your service.
"Social media marketing isn’t important"
Some may argue that social media isn’t important for businesses because it’s still relatively new. However, I completely disagree. Social media is one of your most important marketing tools, if not the most important. Not only because it’s free but because we are now on average spending 2.5 hours on social media every single day (crazy I know). So, businesses should be taking great advantage of this fact and aim to reach their target audience in any way that they can. So, do your market research, seek out your audience and they're prefered social media platforms and start catering content to your audience - it could be the best thing you’ve ever done!
"The aim of social media marketing is just to gain new followers"
While it’s true that follower growth is important for any business at any stage, it’s actually not as crucial as you’d think. It is 10x more important to keep your existing followers engaged with your services or products, and what you’re up to, than it is to constantly gain new followers. This may seem odd but gaining a new follower is only a win for your business if they’ll continue to follow and support your business.
Simply put, you could gain a million followers but that doesn’t translate into you having one million engaged customers, it’s just your follower count. By comparison, having 100 invested, interested followers who turn into customers who have invested in your business is much more valuable. So, don’t get fixated with the number of followers you have. Instead, aim to have a high engagement.
"My business doesn’t need a website if I use social media"
This myth is perhaps the most misleading of all. While social media is very important for marketing and increasing your brand awareness, it is not enough on its own. It cannot do the job of a website too. That's why I recommend having an up to date business webpage for easy purchasing and getting in touch. It should be a priority for all businesses at any level to create a place where their customers can view and browse products/services in a bespoke place that allows them to identify who you are as a brand. In short, creating and posting on socials is just as important as having your own bespoke website.
"Great products/ services sell themselves"
Whoever said this, I’d like a word please! This is probably one of the most famous marketing myths. Yes it's true that great, useful products are easier to sell on face value, but there is no product that will actually sell itself. All products need marketing, especially in the beginning otherwise no one is going to know your product even exists, regardless of how great it is! Therefore, you should ignore this and market all of your products.
I hope you’ve enjoyed this short blog and busting some common marketing myths with me. If you have any questions, please feel free to contact me on firstname.lastname@example.org