For many companies, marketing may seem intimidating at first. Don’t let yourself get scared off too easily! Do some research by learning which mistakes to avoid before getting started. Marketing myths can often hold businesses back - that's why we've debunked some common misconceptions to help you jump start your marking plan.
Myth: We're too small for marketing
Many people believe that small businesses don't need a marketing strategy. This is a huge misconception. Having a plan in place will allow you to focus on your key customers, and keep them coming back while growing your clientele. Create a clear-cut plan to get the best return on your marketing. And remember, no business is too small to promote itself.
Myth: Businesses should only market to new customers
While you do need to market to new customers, you don’t want to forget about your current, loyal ones. Customers who buy from you do so for a reason. Don’t take away the creative, contest, or coupons that keep the coming back! Instead, think of which tactics excite your loyal customers. Use those insights to offer a promotion sure to hook both new and repeat buyers.
Myth: Marketing is too expensive
With the rise of digital advertising, anyone can create a marketing plan within budget. In fact, something as simple as increasing your web or social media presence can be an effective and low-cost way to raise brand awareness. Word of mouth is also a great, free approach for getting your company's name out there. Keep the public talking by providing noteworthy customer experiences! Before creating a budget, explore each option to find the most cost effective tactics for you!
Myth: Social media is not important to our company
This marketing misconception may be the most common of all. Trust us - regardless of whether you're B2B or B2C, all of your competitors are on social media. Many customers live online, so use these spaces to talk the them about your product and services. Don’t risk letting the competition take hold of your audience - stake your claim on social media!
Myth: Invest in marketing when the company is doing well
You should always put money into marketing. In fact, invest the most when your company is experiencing a downturn. Brand awareness can help your business out of a slump by growing its clientele and expanding to a larger audience. Think twice before slashing your marketing budget!
Myth: I'll invest more when I see results.
Marketing is like going to the gym - if you’d like to see results, consistency is key. It's imperative to have patience as your campaign gets up and running. Pausing marketing efforts because you expected faster results will only hurt your company's outcome, and therefore ROI. Agencies want to help enhance the unique features of your business, and pride themselves on being able to drive traffic and sales. So don’t give up too quickly! Commit to a long-term investment in yourself.
Becoming familiar with these misconceptions will help you feel more comfortable when navigating the marketing world. Take what you've learned and put it to good use! Start building a marketing strategy that'll have your competitors shaking in their boots.