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For businesses today, there are so many resources designed to help marketers promote their business. And with where technology is now, most marketers focus on digital avenues, as they’re much easier to track and are tailored to fit smaller budgets. But there are plenty of misconceptions about marketing that many people don't realize. So, let’s break some down and uncover the truth behind them. Because if you want to obtain the results you’re looking for, it’s important to base your strategy on facts, not myths.
1. Target everyone
Even if your product is comparatively among the best on the market, it doesn’t mean everyone will want it, let alone buy it. Everyone has different needs and interests. Certain products will always have buyers. But even within that large audience, different segments buy from different brands for different reasons. For example, there are plenty of different toilet paper brands out there: some are stronger, and now, there are even ones made from recycled materials.
Toilet paper is something everyone buys. The kind and brand they buy, however, differs depending on how much weight they put on price, quality, and other factors. So, even though toilet paper is something everyone buys, it doesn’t mean those that sell it should target everyone in their marketing efforts. Because when you target everyone, you end up with generic, vague, and uninspiring messaging that doesn’t really appeal to anyone.
2. Marketing Only Attracts New Customers
From the outside, it might look like marketing just applies to bringing in new customers. But marketing also includes retaining customers, encouraging them to come back time and time again, and creating brand evangelists. When done effectively, companies will have a steady flow of new business while still appealing to their past customers as they bring in additional sales. Your past customers helped get your company to where it is today, so don’t ignore them in favor of new potential customers. It’s important to maintain a healthy balance between the two for future success.
3. Quantity is Better than Quality
A big number of new sign-ups or new sales is nothing to scoff at. But the better question is how many of those customers will come back? And how many of those new sign-ups will still be there in a year? Or even next month? Big numbers are impressive, but it only means so much if those customers aren’t going to come back. If you only focus on attracting new customers, you may risk losing the ones you already have. Getting customers to purchase isn’t where the overall customer journey stops: you don’t just want a one-time customer; you want a repeat customer.
Instead, delegate time to focus on customers you already have by creating the best experiences for them. With so many products and companies out there, customers like feeling like they matter rather than just another sales number. To do this, brands can work to personalize the overall experience by addressing customers by their first names, remembering their preferences, and offering stellar customer support.
4. Digital Marketing Costs Too Much
With so many advertising options out there, it’s only natural to realize that costs add up. And they do. But the great part of digital marketing is that the cost of advertising on social media and Google is not only affordable but also flexible. To make sure your efforts are both effective and inexpensive, have a goal and strategy in place. Without one, you’ll end up spending money to advertise, hoping it’ll have the outcome you want it to.
5. Digital Marketing Produces Immediate Results
Digital marketing can be great for businesses, regardless of size. But many people expect results to appear immediately. The truth of the matter is that it’s not fast. On average, results take about six to 12 months before results start rolling in. And if you’re a B2B business (one that sells to other businesses), results take even longer. So, digital marketing can be a great help to your business. But it’s also important to recognize that it’ll take time before you start seeing the results you’re looking for.
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