7 Common Misperceptions About Marketing Strategy That You Should Avoid
The modern world, from first-hand businesses to the end consumer, has gone digital. While this has opened new lines of development and progress, there are many areas that require clarity, and marketing strategy is definitely one of them.
While some businesses have understood the hidden importance and potential of marketing and partnered with a digital marketing agency, there are some who have not. The latter is engulfed by some of the common misconceptions that revolve around marketing strategy. And as a business owner, one should make sure not to fall for them.
Stated below are some of the common misconceptions to avoid in order to harness the true power of marketing:
1. Marketing and Advertising are Same
Always remember that advertising and marketing are not the same, rather they complement each other. When working together, the effectiveness can greatly increase. Talking about them individually, advertising is a medium of communicating the message while marketing is the essence in itself. To grow the business, you need both of them. Ignoring, or undermining one, will not give your business the anticipated sales, profits and rewards.
2. Marketing is a Waste of Money
Well, for a start, this is where you are wrong. Marketing is not a waste of money. But if you have this thought, then maybe, it is your marketing strategy that is wrong.
There are numerous marketing opportunities in place that can provide faster results, compared to others. Ensuring that your marketing strategy gives a favorable and a positive response, comes down to the art of devising the strategy. A marketing strategy expert on board will help you with strategies that bring results and also build brand loyalty.
3. Invest Little by Little, at a time
Most of us do not have the heart to make heavy investments in the business. But the reality is that one should invest in themselves and their business alike. One cannot see results until they have put in a minimum level of investment and pushed the limits. A smart marketer is able to strike a balance between when you can invest and what you should invest. Knowing this will give you some huge profits by reaching the right audience at the right time.
4. Old-school Marketing is Dead
No, it’s not. In fact, it is very much alive. I believe you have still heard of testimonials, reviews, and the powerful word-of-mouth in the modern digital world. And for all the right reasons, they continue to exist.
Therefore, when making a strategy, make sure you are able to utilize the traditional and digital forms of marketing and tap the right market.
5. Customer Generation is the ONLY Role
Nope, there are many roles of marketing, and generating new customers is just one of them. Marketing is quite comprehensive. Any successful business knows that customer generation is only half the battle. The rest includes retaining the old ones, building brand image, and brand loyalty are just some of the very common ones.
Out of these, customer retention is no joke. Even the established brands struggle to retain customers. In the competitive market, one small mistake or ignorance can make the customer switch to another brand, something that you would never want.
6. Social Media is for Killing Time
Social media has become a very important online hub for potential consumers. Nearly every brand has a digital presence on social media. This not only allows them to connect and interact with their customers but also modify their strategies according to the trends. This also enables them to stay ahead and in real-time. Through these social media networks, you can nearly tap any interest group and explore the blue oceans.
7. Truth is Out There
When one starts to think that they know the truth about customer preferences, their progress can go down the road. Experts advise them to sit back and study some original analytics for a better understanding of customer insights. You would be surprised about the truth that comes out. Experts advise them to sit back and study some original analytics for a better understanding of customer insights. You would be surprised about the truth that comes out. Experts advise them to sit back and study some original analytics for a better understanding of customer insights. You would be surprised about the truth that comes out.
Using some polls, surveys, tools, and analytics, one can know about choices, preferences, and reasons why the changes are happening. In light of these statistics and changing trends, one can utilize services like PPC, SEM, content marketing, and even SEO in Dubai. With this, they will be able to streamline their strategy and optimize their performance.
As a business owner, you may agree with some of them, if not all. Even so, the misconceptions can keep you from fulfilling your business’s promise to the fullest and prevent them from holding your marketing efforts back. Therefore, we urge you to avoid them and unleash the true potential that your business might be carrying.