Marketing Myths

Hello, Summerville! We are well into spring, the weather is continuing to get warmer, and summer is almost on its way! We hope you are enjoying the weather and taking advantage of all that the beautiful Lowcountry has to offer. We’re happy to have you here on the Creative Consulting blog where you’ll find the most relevant information about marketing your small business in the digital sphere. From building an outstanding webpage to graphic design to managing your social media to optimizing SEO to building a cohesive brand identity— Creative Consulting covers everything you could possibly need to know to take your business to the next level. We are accepting new clients at this time, so reach out to learn more about our services and meet our team!

Our last article discussed B2B and B2C marketing. B2B stands for business-to-business and refers to marketing strategies or content from a business that is geared towards another business. B2C stands for business-to-consumer and refers to marketing that targets individual consumers or customers. While the aspects of these marketing strategies are similar, they also have many differences. If you are interested in learning more, we encourage you to check out our last post!

Today, we’ll be talking about (and busting) some common marketing myths! The world of marketing is fast-paced, competitive, and constantly changing. It can be difficult to figure out what’s working and what’s not. Because of this, many myths about marketing and marketing strategies have accumulated over the years. We’re here to bust these myths to help you modify your approach to marketing and strengthen your business! If you’re interested in learning more about marketing myths, you’re in the right place! Let’s get started.

MYTH #1: Marketing is the same thing as advertising. 

Marketing and advertising are often mixed up or used interchangeably, but they are actually very different. Marketing is the process of preparing an item or service for the marketplace. It involves identifying customer needs and coming up with a plan to meet those needs. It is an ongoing plan of selling a product or service including elements like branding, SEO, and web development. You might think of it as what goes on “behind the scenes” at a company. Advertising is the promotion of a company and its products. It introduces an audience to a product or service through channels such as print and social media. Through advertising, a company must generate a customer need or want for their products or services. With that being said, advertising is essentially a component of marketing. 

MYTH #2: Great marketing will see results immediately. 

This is a common misconception that gets tossed around quite a bit in the business world. As a business owner, you are inarguably hungry for results– We all want to be successful. You may see your competitors talk about their “overnight success” and you want the same for your own business. While that’s certainly not impossible, it’s important to be realistic. The truth is, effective marketing takes time. Having a “viral” post on social media is great, but it often doesn’t produce long-term customers or results. In general, a great marketing plan will take several months to generate results. In fact, with most types of digital marketing, it can take anywhere from 6 to 12 months to see results, and it may take even longer before you see the full effects. With that being said, time and patience is key– Don’t give up on a campaign that doesn’t appear to be performing as well as you expected it to. 

MYTH #3: You need to target a wider audience in order to sell more.

It’s no surprise that business owners want to sell their products or services– But you have to keep in mind that your product is not for everyone and will not appeal to everyone. One of the most common mistakes that businesses make is targeting a wide, generalized audience. People often think that by targeting more types of customers, they’ll sell more, but this is usually not the case. With that being said, you need to think about who your audience is. What types of people are most likely to buy your product? Once you get a general idea, spend time researching your audience beyond the basics such as gender or race. Why do they need your product? How can your product make your audiences’ lives easier? Asking questions like this can help you figure out where you need to invest more time and money, and how you can appeal and relate to your audience. Overall, narrowing down your target audience will help you perfect your marketing strategy. 

MYTH #4: If you have social media accounts, you don’t need a website.

This is another myth that is becoming more and more common in our world today. Many business owners feel that having social media accounts across different platforms is enough, especially if one or multiple of those social media accounts are reasonably popular or successful. While many businesses rely on social media such as Facebook pages, it has its limitations. Social media platforms like Facebook are highly competitive, and when people are searching for a local business they are more likely to use a search engine like Google. Having a website allows you the opportunity to stand out when potential customers are creating search queries. Additionally, people tend to buy from businesses that they know, like, and trust– And a website is generally more credible, and it makes you look professional. This is not to say that you should abandon your social media pages and get a website instead. Rather, your business’s social media pages should support your website, not replace it. 

MYTH #6: Online marketing is the only form of marketing a business needs.

While it is true that our world heavily relies on the internet and social media, offline marketing still has its perks. Offline marketing, or traditional marketing, can consist of brochures, flyers, billboards, television ads, and radio ads. This gives you the opportunity to complement your digital marketing efforts and generate more success. Studies have shown that Americans spend at least half of their day interacting with media, with around 7 hours being dedicated to offline media like television or radio. Offline marketing targets people who may not be using their phone or computer at the moment or who aren’t active on social media platforms that you are using for your business. Tangible items like flyers or business cards can make people more likely to remember your business. It is also a great opportunity to draw people to your online presence. In short, never underestimate the power of a strategically placed brochure. 

MYTH #7: The more money spent on marketing, the better the results.

One of the things businesses struggle with the most is how much money to spend on marketing efforts. It’s a common idea that spending more on marketing will bring in more customers, but this isn’t always the case. While spending extra money on marketing campaigns can generate more leads, this doesn’t mean it will generate customers. A lead is a potential customer– They may have checked out your website or contacted you about purchasing a product or service. However, a customer is someone who has actually purchased a product or service from your business. This is another reason why narrowing down your target audience is so important– Creating a marketing strategy that targets your ideal customer can help you make more sales, while spending less. How much you spend is ultimately up to you and your budget, but the U.S. Small Business Administration recommends spending 7 to 8 percent of your gross revenue on marketing and advertising if you’re making less than $5 million a year in sales. 

There are plenty of marketing myths out there– These were just a few! We hope you found this article informative and that you’ve gained some insight into parts of your marketing strategy that you may want to tweak. If you have any further questions about marketing myths or need help with creating a marketing plan, reach out to us for a consultation! For more marketing and branding expertise, the Creative Consulting blog has you covered. Tune back in for our future articles! You won’t want to miss it! Feel free to give us a call and set up a consultation. We are dedicated to helping you determine which marketing strategies will work best for your business or brand. Until next time, thank you for reading.