Mythbusters: Marketing Edition

b972ce7e359d54e2dd3b3e805a6a92214bd25d17As the marketing industry changes and develops, it’s only natural that misconceptions will come out of the woodworks.

Whether you’re an emerging brand or a veteran of the industry, it can sometimes be hard to determine which marketing myths should be taken with a grain of salt, and which should just be completely ignored.

Here are five myths busted, so you can be properly informed when going into your marketing planning.

Marketing is the same as advertising

If you go around believing that marketing and advertising are one and the same, keep reading. While the two go hand in hand, they are still very different. According to the American Marketing Association, “marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.” Marketing focuses more on the technical process of creating awareness and understanding your customers by getting inside of their head. It is much more overarching than advertising. Advertising is a component of marketing. It is focused on the creation of actual items to drive promotions through mediums such as print, radio, television, billboards, etc. If you use the terms marketing and advertising interchangeably, it’s time to stop.

I don’t need social media

Social media seems to touch every part of our lives, so neglecting it for your business is a mistake. Social media isn’t just a way to connect with friends, but is an asset for sharing your business’ content and information. Customers like to conduct online research about products before making a decision. 74% of people will consult social media to help decide which product to buy. Typically customers will see it as a red flag if your business does not have some sort of social media presence. Social media is a way to provide customer service and connect with your customers on a more personal level. Even if you feel like you’re not in an industry where social media is necessary, don’t neglect its importance.

Marketing is too expensive

While it’s true that you will eventually have to spend some money for an effective marketing campaign, you might not need as big of a budget as you may think. Depending on which area you want to spend your time and money (social media, paid media, inbound marketing, etc.), there are ways to cut expenses when needed. Take influencer marketing, for example. Many brands feel the need to shell out the big bucks for big-name influencers and celebrities to promote their product when there are plenty of smaller, niche influencers who will charge a lot less for a partnership. Some will even take non-monetary compensation! If you don’t have a hefty marketing budget, get creative with how and where you want to spend your money.

It worked for them, so it will work for us

While there are general strategies that should be implemented for most marketing campaigns, not everything will work for everyone. For example, a B2B tech company wouldn’t utilize an Instagram campaign like a consumer retail business would, because that’s not where their audience is. Their audience is most likely on LinkedIn, which means they’re better off focusing their time and energy there. To get the most out of marketing, your brand has to utilize the tactics that will reach the right audience, in the right way.

All you need is a good website

Your brand could have the best website in the world, but that doesn’t matter unless people know it exists. That’s where good marketing comes in. Through social media, content marketing, SEO and other tactics, your website can be seen by a much larger audience than if it just sits there on its own. To increase traffic to your website, start by feeding it into as many places as you can — social media, blog posts, contributed posts, etc. And even if you’re not an SEO expert, you should at least know the basic keywords related to your industry and utilize those to increase the chances that your brand will show up during Google searches.

 

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