There are dangerous marketing myths that are currently holding companies back from increased profits. The truth is, good marketing is integrated and includes a blend of social media, brand development, advertising, public relations, and website and search engine optimization (SEO).
Many companies are still struggling to incorporate essential aspects of digital marketing into their business plans — such as social media and mobile marketing — because they think it is too expensive or they don’t need it. However, with the continuous growth of e-commerce and social media, companies can’t afford not to invest in marketing.
Let’s take a look at the five most common marketing myths and how to overcome them.
1. “I have a small budget and I can’t afford marketing”
Some companies don’t want to invest in marketing because they don’t see the value. However, a solid marketing plan can help boost awareness, improve sales and help a company gain more customers. Marketing is an investment, not a one-time purchase.
2. “I already have a marketing plan”
While companies may have a marketing plan, it is often incomplete. The best marketing plans encompass an integrated approach — such as print advertising, public relations and trade shows — and digital media — such as social media, website/SEO and mobile marketing.
A comprehensive marketing strategy evaluates the worth of various marketing tactics and implements the best traditional and digital media options for a company and its budget.
3. “My business is doing well, so I don’t need to invest in marketing”
While business may be doing well, that can change in an instant. No new business pipeline can mean you’re out of business if a customer has to cut their budget or chooses to go in a new direction.
Marketing is a great tool to engage with customers, nurture prospects, generate leads and boost sales. Positive interaction with clients will help them remember your company and create a lasting relationship. And, nurturing inactive clients can encourage them come back to you.
4. “We already advertise, so we don’t need marketing”
Advertising is an important part of an overall marketing strategy, but it’s not the only part. Various tactics contribute to a successful marketing plan, not just advertising.
It can be difficult to select which marketing strategies to implement, but it’s important to evaluate which will work best for your company.
5. “Social media is a waste of time for my business”
Not being on social media is a lost opportunity—it decreases your business’s online credibility in the eye of the consumer. In fact, many customers, especially the millennial generation, research a company and their social media sites before making a purchasing decision.
While every social media outlet isn’t the best option for all companies, it is important to research the target audience. Social media allows companies to interact with clients and build meaningful relationships that can greatly impact customer purchasing decisions, thus affecting the bottom line.
We can help!
If you’re not sure where to start, GREENCREST can help. GREENCREST specializes in traditional and digital marketing strategies. We can help your organization navigate the marketing world and create a solid, integrated marketing strategy. Speak with a marketing expert today!