Although digital marketing is not new, the number of businesses that pivoted to online marketing post-pandemic amplified substantially. As a result, digital marketing became the primary marketing tool for most businesses. As startup and business owners learn to maneuver digital marketing tools, they often encounter a myriad of myths and unrealistic expectations set by incorrect information available online. In this blog, we will debunk some of these myths and set right the expectations to help you figure out what exactly can work for you. Here you go!
1. Myth: Marketing and advertising are the same thing
Reality: Although marketing and advertising are used interchangeably sometimes, they are quite different from each other. Marketing is a business practice that involves identifying, predicting, and meeting customer needs. In contrast, advertising is a component of marketing that encompasses the exercise of promoting a company and its products or services through paid channels.
2. Myth: It worked for another company, so it will work for you
Reality: Copying marketing strategies from other businesses can do you more harm than good. You should strive to create a unique brand and your marketing strategy should be tailored for your business. Every business has its own brand, messaging, products/services, and target audience, therefore, the only way to stand out is to be authentic with your marketing. You can learn from and get inspiration from different companies but do not assume that a copy of the strategy will work for you too.
3. Myth: If your marketing strategy is working, stick with it forever
Reality: Irrespective of how well your marketing strategy worked, it needs agility and innovation. Keep in mind that customer preferences change, and new trends evolve. It is a good practice to audit your marketing strategy yearly, pick the pieces you want to use and adjust from previous campaigns, and add new elements to it based on the latest trends and buying behavior.
4. Myth: Marketing has an instantaneous effect
Reality: Creating quality content, building trust with your target audience, and producing results takes time. It is possible to create a one-time spike in visibility with some marketing tactics, but you will always need to have a consistent way to stay in touch with your target audience. You want to make sure they know who you are and how can you help them. Instead of expecting to see results instantaneously, ensure that you are being consistent and eventually, you will see results.
5. Myth: Email Marketing is not effective anymore
Reality: As per recent statistics, there are approximately 4.1 billion global email users in 2021 and this number is expected to reach up to 4.3 billion by 2023. So, naturally, email is still a great medium to reach your target customer. If you integrate your emails with content, such as videos, blog posts, etc., and do email marketing right, it has the potential to deliver the highest return on investment (ROI) of all marketing channels.
6. Myth: Your logo is your brand
Reality: Your logo is a part of your brand just like your website, product, or product packaging but it is not your brand itself. Your brand is how your customers perceive you after having experienced your business in some way. It is important to create a brand identity that resonates with your target audience and is aligned with your company’s mission. Your brand should communicate your personality and hopefully influence your prospects’ opinions. Eventually, people who resonate with your brand’s personality tend to become your most loyal customers.
7. Myth: Content marketing is not important for your business
Reality: If you are a founder or SMB owner who has been asking yourself “Is content marketing important for my business?” the answer is a resounding YES! There is a reason Bill Gates said, “Content is king.” Content marketing can increase the volume of quality traffic to your website and create awareness about your business. A well strategized and executed content can attract an audience to your business’s website, ultimately converting into leads and finally, sales.
8. Myth: If your product is great, it will sell itself
Reality: While having an excellent product/service can be much easier to sell, no products sell by themselves right out of the gate without marketing and sales effort. A great product can sell by itself once its market position has been established. The best way to keep yourself ahead of the competition is to position yourself as a leader in your space and provide exceptional value through your product or service.
9. Myth: Social Media Marketing is free
Reality: When businesses consider social media marketing, they often fail to see that while social media channels might be free, the time and resources they would need for creating quality content are not. Therefore, you should strategize and ensure that your social media marketing plans eventually give you the required return on investment.
10. Myth: There is no need to invest time in social media
Reality: Many business owners assume that social media is not going to work for their business or get demoralized about setting up their social media accounts if their competition’s social media is too established. With 4.5 billion people on the internet, the chances of generating leads through social media are endless. Therefore, we recommend having a social media presence for your business if you want to build a thriving brand. With 72% of Americans using social media, it could be a crucial mistake to miss out on connecting with and building relationships with these users through social media platforms.
