It is surprising how many myths and misconceptions there are surrounding marketing. We have identified 10 myths and hope we have given reason as to why they are simply not true.
Myth 1: Advertising is the same as marketing.
No! Advertising is the process of buying space or time in mediums such as newspapers, direct mail, billboards, television, radio, and of course the Internet. The ultimate purpose being to relay a promotional message.
Yes, advertising is certainly one of the aspects of marketing however marketing is so much more than this. Public relations, media planning, product pricing and distribution, sales strategy, customer support, market research and community involvement are all parts of comprehensive marketing efforts. This is not to say that advertising is always relevant for a business’ marketing strategy though, this will be dependent on the individual business.
Myth 2: People always buy where they get the cheapest prices.
If this was true, only businesses that charge cheaper prices would exist! Some people buy where they get the cheapest price, however most people are more interested in getting value for their money than in getting a bargain. Service is key along with relationship marketing.
Myth 3: Doing a little marketing is better than doing nothing at all.
Unfortunately not! Marketing costs money and unless you know what you are doing and the marketing is smart, targeted and creates a substantial ROI, marketing can be perceived as a total waste of a business’ resources. It needn’t be expensive and there are many channels out there to get you started. Momentum and consistency is key to successful marketing.
Myth 4: Offering your customers many options will boost your sales.
Really?! Studies have shown that presenting your customers with options will usually reduce your sales. This is because when confronted with several options, most customers have difficulty making a clear decision. They often react by procrastinating – and never making a decision. When this happens, you often lose the sale you would have had.
Myth 5: Great products or services sell themselves.
A great product or service is obviously important, but great product or service marketing is even more important. You have to constantly praise the qualities, but even more importantly, you need to be able to convey a simple value proposition that creates a buying reaction. A good way to start is by having a website that shows that you are “open for business”, include testimonials that back up your sell and communicate often.
Myth 6: Salespeople aren’t really part of the marketing process.
This is not true, salespeople are actually the centrepieces in selling a product or a service. Yes, there is a difference between sales and marketing, but if the marketing process leads to a sales team who feel empowered to close deals this will all lead back to the businesses bottom line. If however, there is a poor marketing team this will subsequently mean salespeople aren’t empowered to create closing deals, meaning sales will be few and far between. This is ultimately like throwing money out of the window – collaboration between teams is vital.
Myth 7: Our product is so good, we don’t need to do any marketing.
Sadly not! Whilst the internet offers a great and usually cheap platform to get word out about your business to a potentially large audience, you’re competing with millions of other companies and websites. Once these people get to your website, how many are likely to buy on their first visit? With average retail conversion rates of 1-3%, it’s like expecting to get married on the first date!
Marketing doesn’t end once the visitor gets to your site either. You must continuously stay top-of-mind, engage them, and reinforce your unique value propositions to nurture them through the sales funnel, from awareness to actual purchase.
Myth 8: B2C and B2B content marketing strategies are the same.
There are many differences between B2C and B2B content marketing. Content marketing isn’t the same for a consumer blog as it is for a business blog. Consumers tend to prefer shorter content and content with more visuals, emotions, and on-trend up to date information. Businesses, on the other hand like ‘how-to’ articles, relevant or related news etc. which are also actionable. They want to be able to read an article, apply its advice to their businesses, and see some sort of change.
Myth 9: Marketing alone creates brands.
Not really, this concept suggests that marketing activities, such as advertising and content writing, can somehow convince customers and prospective customers to view a product in a certain way. This sometimes works when a product is launched, particularly if you’re willing to spend a lot of money and your customers are able to be easily convinced. But the rest of the time, it is always the customer’s experience with the product that actually creates the brand.
Contrary to popular belief, your “brand” isn’t just your logo and motto. Your “brand” consists of the emotions that customers feel when they think about your product or service. And while those emotions can sometimes be triggered by logos and so forth, they originate in the overall product and/or service experience.
Myth 10: Social media is not for B2B marketing.
While B2C marketers worry about noise, B2B marketers worry about silence. Many businesses are hesitant to use social media because they see it as not only a consumer haven, but also as a place for business-free downtime. For B2B marketers, social media presents an opportunity to put a face on a business and connect with a lead on a personal, more emotion provoking level. Choose your social media channels wisely and keep active, results will pay off.
At the end of the day if you have a well-planned strategy, clear goals and a team willing to trial test and improve the marketing – you’ll be able to get the marketing results you need to help your business grow.
If you know you need marketing but don’t know where to start, get in touch with Umbrella Marketing TEAM today and speak to us to see how we can collaborate!
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Image: Psychology Today