23 Mar Common Myths in the Marketing Industry
If you are a business owner, you may have heard many misconceptions about marketing and its effectiveness. However, your business could experience tremendous growth with the correct marketing strategy. Knowing the common myths in the marketing industry is essential, so you don’t prevent your business from growth and success.
MYTH: Small Businesses Don’t Need Marketing
One common myth in the marketing industry is that small businesses don’t need marketing. If the business is local, they may feel it is unnecessary to create marketing campaigns because they can rely on regular customers. If businesses rely only on word of mouth or foot traffic, they will not grow much. Relying solely on these two strategies also puts the company at risk for competition. A good marketing plan can help the business grow, stand up against the competition, and gain new customers while retaining old ones.
MYTH: There’s No Need to Market to Existing Customers
Having regular customers does not mean you do not have to market to them. It is a common myth in the marketing industry because businesses forget that their customers may still go elsewhere if they have not heard from you in a while or are pursued by your competition with an offer they think they cannot refuse! Customer loyalty should be a priority for any business, and marketing can help. Marketing to existing customers lets them know that their wants and needs matter. Staying in touch with your customers with email marketing or phone calls will impact the customer’s interest in working with you on a future project.
MYTH: Social Media is Not for Business
It is easy to think that social media is not a place for your business simply because so much nonsense is posted. Unfortunately, this is a pervasive myth. Social media is precious for business marketing. It is an affordable and effective way to market your business and spread information about the products or services offered. Social media is also an excellent way to engage with consumers and discover what your customers want from your products or services.
Many common myths in the marketing industry keep businesses from thriving. Knowing about these myths can help ensure you get all the benefits of growth and success. To schedule a consultation, please call our offices at 410-205-6168 or utilize our scheduler to get access to our calendar.