Are These Five Marketing Myths Holding Back Your Business?
Myth #1: Advertising is the same as PR.
Although they work together, advertising and public relations are very different industries. Advertising costs money, while the goal of PR is to obtain free publicity. In advertising, there are no surprises as to when an ad will run, whereas press releases might be picked up the week you send them out, or they might run months later. Advertising gives you complete creative control over what goes into an ad, but in PR, the media can present your information their way. Make sure to consider the advantages of both industries when you’re deciding where to focus your efforts.
Myth #2: I don’t need social media for my business.
According to Business Insider, social media is now the top Internet activity with Americans spending an average of 37 minutes daily on social media. Furthermore, about 46 percent of web users turn to social media for making purchases, and other studies have shown that social media generates almost double the marketing leads as trade shows, telemarketing, daily mail, or pay per clicks (Source: Digital Insights). Social media is a major source of information for web users and is playing a huge role in driving business. Even something as simple as sharing news relevant to your industry is easy but still allows you to build a social media presence without having to spend hours creating content. Check out this infographic for more social media stats.
Myth #3: Doing any marketing at all, is better than doing nothing.
Simply put, marketing is sharing a message from your brand to your customer. So with every marketing tactic you implement, you are releasing a message about your company to the public. If these messages are inconsistent, you are probably confusing your audience. If these messages do not reflect your business in a way that is going to attract your target market, you are not only throwing money away, but you might also be damaging your reputation as a brand. Sorry, but any press is not good press, and any marketing is not good marketing.
Myth #4: We don’t need to be mobile-minded for our type of business.
According to the Pew Research Center, as of January 2014, almost 60 percent of American adults have a smart phone. So if you want to side with the majority of Americans, being mobile-minded is a must. In a study on mobile ads for the financial services industry, mobile ads achieved a 19 percent click-through rate, compared to a click through rate of less than one percent for desktop banner ads (Source: Compete, Inc.). Not convinced? Yet another recent study by comSource found that nearly 40 percent of time spent online is now on mobile devices. So even if you’re not advertising on the mobile platform, at least make sure that your website is mobile-friendly. All aboard the mobile train, folks!
Myth #5: Businesses should ignore negative feedback.
These days, with the ability to share, reply, comment and like across different social media channels, marketing is a conversation. If you acknowledge only the positive comments and ignore any negative feedback, you are ending some of your conversations on a bad note. You are also allowing your unhappy customers to remain unhappy and to share their feelings of dissatisfaction with anyone else who otherwise might have been a loyal customer. Reach out to upset customers for information on why they had a negative experience, offer a sincere apology and find a way to get them back on your good side.