The concept of marketing is a very murky one. This is because marketing is the root to many different means of promoting your business. As a result, it’s easy to confuse the idea of marketing with the true purpose of marketing.
Here at Epic we encounter a lot of reasons why companies think marketing isn’t right for them. Most of the time these reasons stem from failed attempts at marketing, and many of these failed attempts are a result of common misconceptions about marketing. We can’t say it enough, there is so much more to marketing than just having a website, placing an ad, wrapping your car with graphics, or throwing up a billboard. The purpose of marketing is to implement a strategy that raises awareness about your business and persuades people to do business with you.
With that being said, there is a science to it and that is why there are professionals specializing in marketing. Below are five common marketing misconceptions:
1. Marketing is Advertising—Well, yes and no. Without advertising, marketing is much less effective and without marketing, advertising can be a waste. In order to truly grow your business, you need both. Advertising is a branch of marketing through which your services can be presented to your audience, whereas marketing is the essence of reaching them.
2. Marketing is a waste of money—When this thought comes to mind, you’re effectively saying that your service or product is a waste of money. Think about it, you want to grow your business but you’re not willing to invest in marketing it, so aren’t you kind-of saying you’re services are not worth promoting? You’ve already invested in your business, now it’s time to invest in growing it. Without marketing, your business will have a very hard time getting you a return on your investment.
3. It takes too long to see a return on my marketing investment—If this is the case, your marketing strategy just might be the wrong one. There are a bunch of marketing opportunities out there and some can provide fast results, while others are more of a slow burn. Having marketing experts as a resource (who have been there and done that) will help you to know which strategies will bring rapid results and which strategies will build brand loyalty.
4. A friend of mine is a designer and can help me market—This is true, your friend can design something for you and help you market your business. But does your friend know how to design and target the audience you need to grow your business? Oftentimes, people put together a look for their business without considering the feel of that look. Professional designers and marketers know not only how to create a look, but also a feel for your business, instilling trust with your customers.
5. I just want to put a little bit of money towards marketing until I see results, then I’ll invest more—Is this a good marketing strategy? Maybe, maybe not, actually most likely not! We’re not trying to be the bearer of bad news here, but like we mentioned earlier, marketing is an investment in yourself and your business. Would you hire a personal trainer and say I’ll workout with you once every other week, and once I start seeing results, I’ll workout with you more? Common sense tells us you won’t see real results from putting forth minimum effort, you have to push the limits. When it comes to marketing, it’s important to strike a balance between what you can invest and what you should invest. There are strategies available that will get you amazing results for the best price, and having experts in your corner will get you there.
In conclusion, if you truly want your business to grow, marketing plays a key role in making this happen. Having a preconceived notion of what marketing is or isn’t only hurts your business opportunities. Marketing will help you reach the right audience, at the right time, through the right resources, with the right approach, and when executed correctly… it will succeed.