Common Marketing Myths
by Halie Smith
Marketing is not a concept that can be contained to a fixed definition. It is ever-changing and includes a multitude of disciplines that work together to move a brand’s audience to action. With how much information the marketing industry covers, it is no surprise that even some of the greatest professionals carry with them ideologies that don’t hold true. Read on to debunk four of the most common marketing myths circling the industry today!
1. The more consumers I reach, the more consumers will buy.
Less is more. This saying holds true even in marketing! Your marketing campaign is only as strong as the audiences you are targeting. Knowing the ins and outs of who makes up your brand’s target audience is a critical component in creating a successful, effective marketing campaign.
For example, marketing a low-cal hard seltzer on TikTok has the potential to reach the social network’s 689 million users, which sounds great in theory. However, more than 25% of its users are under the legal drinking age in the United States, making all of the brand’s marketing efforts and investments essentially useless to more than 157 million users.
Taking the time to research and identify target audiences before implementing differentiated marketing tactics will create a stronger return on investment for your brand. Whether you’re reaching 100 consumers or one million, the success of marketing lies in the campaign’s ability to find the right audiences who are more likely to act on what is being marketed to them. It isn’t about how many consumers your brand is reaching; it is about WHO your brand is reaching.
2. Marketing is only necessary when attracting new customers.
Picture this: You just went on an amazing first date. Wouldn’t you be let down if they never called you back for a second? Just because a new relationship has formed, doesn’t mean your marketing team’s work is over. Now more than ever, brands are constantly engaging with their audiences to keep themselves relevant in the conversation and at the forefront of consumer’s minds.
Not only is it important to get new people to buy from your brand, but also important to get those same people to keep coming back to your brand. Maintaining a brand’s relationship with its customers can oftentimes involve more work than the initial establishment of the customer-brand relationship. However, it is definitely worth the time and energy as Nielsen reports adults spend over 11 hours a day interacting with media, meaning brands have an opportunity to extend the conversation and relationship with their consumers far beyond the point of sales.
Brands must continue marketing themselves to their existing audiences in order to build trust, consistency, and brand awareness/recognition. Think of some of your own favorite brands. Do you keep coming back because of incentives, social media engagement, and/or the community the brand has built?
3. Marketing is easy. Anyone can do it!
Living in the digital age, there is no off switch to marketing. Marketing professionals and the average consumer alike are constantly surrounded by marketing campaigns throughout everyday life. Time-consuming, but often rewarding, marketing involves a team of professionals who are flexible, detail-oriented, collaborative, and innovative. Remember: Consumers exist outside of the 9-5 work week!
Professionals in the marketing realm can get their next best idea while waiting in line for morning coffee, leaving a Pilates class, or even scrolling their Instagram feed. From the initial campaign brainstorm to implementation, a successful marketing plan demands a lot of hard work, strategic thinking, and collaboration. The best marketing campaigns aren’t born overnight.
Marketing is an ever-changing, goal-oriented industry. To keep up with the latest trends and opportunities, successful professionals spend time outside of their work dedicated to continuous learning. To be a good marketing professional, you must give 110% every day to your brand and its consumers.
4. Marketing is a waste of money.
When done strategically, marketing can add immense value to a brand, product, or service. To make the most of your marketing budget, you have to lay out an extensive plan rooted in research and analytics to steer your campaign and its marketing efforts to success. All good marketing campaigns center around the end goal. Knowing where you want to end up as a result of the campaign directs the course of what research is necessary to ensure a strong return on investment.
Once the research is conducted and the marketing budget is spent on techniques and best practices that are tailored to the goals of the campaign, the results speak for themselves. By allocating the marketing budget to set targeted campaign objectives, such as increasing brand awareness and expanding to new audiences, brands are able to use marketing in an effective way that not only builds a relationship with their consumers but also increases their sales and profits.
In conclusion, marketing has the power and capabilities to improve a brand’s reputation, reach new consumers, offer competitive activations, and much more. Invest in your brand’s consumers. Invest in a team of professionals dedicated to creating strategic, innovative campaigns. Invest in the opportunities and value marketing brings to the success and longevity of your brand.