The Top 10 Marketing Myths
Mar 19th, 2010 by yolandi
Myth 1: Marketing is advertising and sales
Reality: Marketing is about educating your target market about your products and services and why they should buy from you. Marketing is everything you do to reach this target audience, whether it is advertising, direct marketing, Internet Marketing, events, public relations, strategic partnerships or networking.
Myth 2: Lower prices encourage more people to buy
Reality: If that were true (and in some cases it may be), no one would buy a BMW verses a Ford. The reason for so many options among types of products is that people have different views of what is valuable to them. That is why it is so important to target your product or service correctly so that you can provide the maximum value at the right price, not an artificially discounted price because you are trying to reach the wrong audience.
Myth 3: Offering a broad range of products and services ensures more sales
Reality: Too many options confuse your buyer and making your prospect make too many decisions will kill the sale. By offering a convenient package at a perceived valuable price, you will sell more product and service than you would by trying to sell lots of giblets.
Myth 4: Email marketing is no longer effective due to SPAM
Reality: Email marketing is still effective if done properly. People always want information and providing it through an opt-in marketing program is a way to reach people you normally would not reach. However, buying a list from a less than reputable broker and sending out lots of email to people who are not interested in what you have to offer is SPAM and should not be done. But building your own in-house email list by encouraging visitors to your web site to sign up for your newsletter or other type of correspondence should be done and is ok.
Myth 5: Great marketing works instantly
Reality: Although marketing can shorten the sales cycle, and some tactics can produce instant results, marketing is about sustained contact with your target audience to ensure they know who you are when they are about to buy. Marketing is an investment and like all good investments, they take time to achieve the greatest gains.
Myth 6: Successful marketing campaigns win awards
Reality: If your ad agency or web design agency is more interested in winning an award than helping your business thrive, then run as fast and far as you can and find an agency who is concerned with results for YOU, not for them. You are paying them for their services, not to do something that will get them recognition.
Myth 7: Internet Marketing is all you need for marketing programs
Reality: Internet marketing is a wonderful tool for all businesses today. Its ability to reach your prospects when they are most ready to buy is a cost-effective means of getting your message out. But Internet marketing is not the only game in town. We often refer to “integrated marketing” plans because it is the integration of many different types of marketing activities that drive visitors to your web site, to call you or to buy. Don’t overlook the value of direct marketing, advertising, public relations, events, partnerships and networking to round out your marketing plan.
Myth 8: Messages need to be changed often, otherwise your marketing gets old
Reality: Consistency and repetition is marketing’s best friend. Just when you are bored to tears with your marketing message or marketing campaign is just about the time your messages may resonate with your target audience. Changing your messages, brand, or marketing campaign for the sake of change is a waste.
Myth 9: Advertising sells product
Reality: Advertising builds awareness and generates leads. If you try to sell within your ad copy, you run the risk of turning off prospects that are currently information gathering. You need to attract prospects first and educate them on your products and services. The education process would include regular contact with them about your business, services, products and special offers you may have. This develops a trust relationship with your prospect will make it easier for them to eventually buy from you.
Myth 10: Partnerships and Alliances are for big companies
Reality: Partnerships and alliances are extremely important for all companies. We can’t do it all and having partners you trust there when you need them, to offer a service or product you can’t, helps your customer get what they need from you. Join forces to increase your resources, find areas they are stronger than you and utilize that aspect of their business, or package some services together to offer your clients more value for their money.
Summary
Marketing is about educating your prospects and customers about you, your products and services, and how you can help them solve a problem. Marketing should educate, inform, announce, enlighten and influence human behavior. All the ways you can think of to accomplish this for your company is a marketing activity. Marketing is truly an investment in time, creativity, resources, and energy. The more you can invest the greater business success you will have.
Very nice blog. I will return.