When it comes to marketing your business, the toughest challenge is finding out how you should promote yourself and your company. There is a LOT of information on the internet – some good and some bad. It can be difficult to weed out what information is good and applicable to your particular situation.
Another challenge that exists are some preconceived notions about marketing. These notions, or myths, are often misleading and paint an incorrect or incomplete picture about marketing. These are harmful because if you are a business owner who has heard one of these myths it can cloud your decision making.
You could make a poor decision based on one of these notions and waste a lot of time and money before learning that the myth you were abiding by was false. Let’s address some of these myths that you could feel free to forget.
Quick Note: These are just a sample of the most popular or prevalent marketing myths that I have heard or been exposed to. Below is a video that includes some other marketing myths which you can ignore. Make sure to subscribe to our YouTube channel for future marketing videos.
Marketing Is A Waste of Time and Money
We will start with the one myth that I have heard most often and that is “Marketing is just a waste of time and money”. I will not argue that done incorrectly, you can indeed waste a lot of time and money marketing your business.
However, do not be mistaken. Marketing your business is an absolute necessity. Marketing your business allows you to reach a larger audience so you have the ability to attract new streams of revenue and grow your customer base. Without marketing, you run the risk of being drowned out by your competitors, forgotten by your target audience, or experiencing other adverse effects to your business.
You Don’t Need A Marketing Plan
This is a big one for me. As you may know I place a premium on developing a marketing strategy. Better yet, I believe you should develop a system of marketing for your business. The reason I feel developing a plan of action is so important is because it gives your marketing efforts structure.
Going back to the point above; you can waste a lot of time by sending out random emails or messages on social media. To make the most of your time and money you need a marketing strategy that is aligned with the short- and long-term goals of your business. This will ensure that whatever results you yield from your marketing efforts are aimed towards the overall success of your business.
Everyone Is Your Customer
You may have a product or service that appeals to a broad audience, but do not be mistaken: not everyone is your customer. Another way to look at this is to think of who your best customer is. Consider your ideal customer and target THAT person.
Your ideal customer is the one who’s pain points that your service or product best addresses and is the one most likely to spend their money with you. When you think of your customer in these terms, you are better able to craft a story that will target and attract them.
I Already Know What My Client Wants
I have worked with many clients who automatically believed they knew what their clients wanted or needed without question or exploration. This is not to say they did not have a good feeling for their clients desire’s or what would motivate them.
Rather, you want to make sure that you are addressing the correct pain points and doing so in the right manner on the correct marketing platforms. It helps to do a little research to learn more about your target audience. Even if the work confirms what you thought you knew, at least you know for certain and can use that knowledge when evaluating results in the future.
I Can Expect Results Right Away
One of the biggest mistakes a marketer or business owner can make is being impatient. Building an organic following takes time. Your audience needs time to trust you and your brand. This means it may take time for your marketing efforts to result in an increase in revenue. That is why marketing is often referred to as an investment in your business. The time and money you are investing in marketing now are working towards building your business in the future.
Rather than focusing solely on revenue, look at things like social media followers or email subscribers. While these numbers won’t pay the bills, the larger your audience becomes the more people are there to hear your message and potentially become customers in the future.
Online Marketing Is All That You Need
Beacon Marketing focuses on digital marketing. That is the core of our business. However, this does not mean we do not see the value of other ways to market and promote your business.
I have always advocated for a multi-channel approach to marketing.This includes offline, or traditional forms of marketing. Whether it is going to networking events or tradeshows, using print materials or ads on radio, you can find value in marketing methods outside of your website, social media, or email. The key is to define your goals and make sure all your marketing efforts are aligned.
I Have Enough Clients Now, So I Don’t Need Marketing
We will end on another one that I have heard a lot: “ I am busy now so there is really no need to market myself or my business any further.” Unfortunately this could not be further from the truth.
If you find yourself thinking this, first off: congratulations. Not a lot of businesses can say this. Second, you need to put some thought into the future. Even if you are not necessarily looking to grow your base of customers, you should be thinking of ways to turn your current customers into advocates. Even small acts of marketing like sending thank you emails or letters can yield huge benefits in the future.
Remember, marketing is not always about large campaigns to attract new customers. It can be about small acts to remind your current customers how valuable you see them and that is almost just as important.
We are lucky to live in an age where we have so much information at our disposal. So much of the marketing info you find online is good and helpful. (I sincerely hope my content falls in this category.) However with the good, comes the bad. The above myths can cloud your judgement and cause you to make marketing decisions that could hurt the long-term health of your business. If you have heard or even believed any of the myths above, feel free to forget them and reevaluate how your choose to market yourself and your business.