When people think of marketing, many automatically have an image of it being all fun commercials and Super Bowl ads. However, when business owners dive deeper into the roots of marketing, they quickly discover that it’s not as easy and fun as it seems to be. Don’t get fooled; when strategies are guided by myths about marketing, the outcomes tend to be smaller and more expensive.
In this article, we’ll debunk some of the most common misconceptions about marketing. If you believe that you’ve been misguided by the notions of marketing misconceptions, know that you’re not alone. Even the most experienced CEOs are receptive to these common marketing myths.
“If my product or service is good enough, I don’t need to market it – it will sell itself”
A common mistake that many start-ups and small businesses make is focusing too much on the product or service rather than how to get it recognized by consumers. In the United States, there are over 30.2 million small businesses, this means a lot of competition out there with very similar offerings like yours. So why would someone care about your product or service? That’s exactly what your marketing has to prove. To successfully make transactions, you must therefore not only sell your product but show how it differs from others and how it will add value for the customer.
“The more types of customers I target, the more I will sell”
When it comes to target audiences, more is less. This is particularly true when it comes to online advertising budgets. For example, If you have $1000 to spend on a digital ad campaign and you try to target as many people as possible, chances are that you’ll exhaust your budget very quickly with very few conversions. However, if you instead really dig into what your target audience is and focus your budget on that, your ad campaign has a higher chance of reaching quality leads. The more narrow and specific you can be about who your customers really are, the more readily you can create effective marketing strategies that will appeal to them without wasting time and money.
“Our salesperson can handle Marketing”
Many business executives tend to think that sales and marketing are the same things. Therefore, they might avoid hiring a marketing professional. However, in reality, it’s safe to say that the majority of sales professionals have no marketing experience. You wouldn’t hand finances over to your technology staff or give HR to a customer service employee. Likewise, your salespeople should not do your marketing. Although sales and marketing are related, each requires a very different set of skills. If you’re not in a financial position to hire both, you can choose to outsource your marketing. With Hook & Blade you can even get a fully skilled marketing team at a fraction of the cost.
These three common marketing myths can hinder campaigns from reaching their full potential, prevent leads from converting to clients, and frustrate marketers and clients alike. Look out for part 2 of this blog coming up next week!