Like most things in business, many marketing trends and concepts are constantly fluctuating and evolving. Depending on the size of your business, creating an effective marketing strategy may seem like an overwhelming or seemingly expensive task. Or, maybe you’re already engaged in marketing activities but feel like you're not leveraging its full potential due to a lack of clarity on what truly works.
In this blog, we shed light on five common marketing myths spanning various industries with the goal to help you tap into potentially misunderstood or overlooked marketing opportunities that might be preventing further success!
You may notice a lot of these myths are similar to one another. That’s because marketing is most impactful when it’s cohesive – read on to see what we mean.
1.Myth: Marketing is too expensive.
Marketing certainly can be expensive, but it doesn’t need to be for it to be successful.
Strategic and intentional marketing plans can yield substantial returns for businesses of all sizes. Instead of blindly adopting the “trendy” or successful tactics used by other firms, it's crucial to tailor your approach to align with your specific goals, budget, and available resources (see Myth #4). Effective marketing doesn't need to break the bank – there are many cost-efficient techniques such as blogging and email marketing (see #3) that can prove highly impactful. Remember, while opting out of marketing might seem like a cost-saving measure, it may actually cost you more in the end. You could be missing out on potential sales, clients, opportunities, and brand visibility. There’s an appropriate budget for any company, so don’t let that be the reason you don’t invest.
2. Myth: Marketing should generate immediate results.
Simply put: patience is key. Successful marketing initiatives often require time to gain traction and produce measurable results. Understand that marketing is a long-term endeavor, and while results may not be instantaneous, every effort contributes to building brand equity and market presence.
3. Myth: Email marketing is outdated.
Contrary to popular belief, email marketing remains one of the most effective marketing tools out there. Email marketing can be hugely successful when you “own” your own audience. We don’t advocate for buying generic industry lists, but we do encourage our clients to keep in constant contact with their audience (past clients, industry friends, peers, potential clients) by generating biweekly or monthly emails. The frequency depends on your content and your product/service type, but the important thing is that you stay top of mind! If you have valuable bits of content (helpful advice, case studies, answers to questions, things to know, etc.) for your audience and they already have a connection to your brand, they are more likely to open the email and follow along.
The best part: it’s fully measurable, allowing you to gather helpful tracking of engagement metrics such as open rates and click-through rates. By leveraging data-driven insights, businesses can refine their email campaigns to enhance effectiveness and drive desired outcomes. Curious to learn more? Check out Rachel’s podcast on Effective Email Marketing with Comfy Stone Podcasts.
4. Myth: Creating a strategic marketing plan isn’t necessary.
Creating a plan is always necessary! What gets measured gets done, and roadmaps guide you to your destination. A well-crafted marketing plan not only optimizes resource allocation but also ensures a higher return on investment. Referencing Myth #2 on this list (‘marketing is too expensive’) – a strategic marketing plan can actually save you money in the long run. Marketing costs are only a waste if they’re not implemented wisely. So, take the time to determine which marketing tactics are available, and which are best for your business goals and audience. Strategic marketing plans are also important because they help you utilize synergistic marketing tactics that maximize impact. In other words, these plans help to customize a “cocktail” of marketing efforts that can provide the most value when used together. Not sure where to start? Reach out to our team to get started.
5. Myth: Marketing is a one-time effort.
“Marketing’s job is never done. It’s about perpetual motion. We must continue to innovate every day.” – Beth Comstock, Former CMO & Vice Chair, GE
For marketing to be successful and really “stick”, it requires dedication, consistency, and persistence – things that are essential to building brand trust and loyalty over time (which also speaks to Myth #2 on this list!) Even more so, staying true to consistent marketing is easier when you have a strategic marketing plan to work from (see Myth #4 on this list). Ultimately, marketing is a dynamic process that requires frequent adjustments, improvements, and attention to remain relevant and resonate with target audiences.
Don’t limit your opportunity for growth and success by misunderstanding the power of marketing. Unlock the full potential of your brand and propel your business to new heights! Get in touch with our team today if you’re ready to audit and level up your current marketing efforts, or if you’re in need of an entirely new strategic plan.
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