Marketing is a broad term that encompasses many strategies and platforms used to promote a product or service. Within marketing, there are numerous myths and misconceptions that could ultimately be harming the potential growth of your business. Here are four common ones:
Marketing and advertising are one in the same
While marketing and advertising often go hand in hand, they are not the same! Marketing is usually defined as the overall strategy toward promoting your business, while advertising is a term used to describe a paid form of messaging, such as paid social media ads or Google Ads. Without advertising, the impacts of your marketing may be limited. Without a marketing plan in place, your advertising dollars may be wasted. A combination of both is usually the sweet spot!
I don't need to market to existing customers
A marketing strategy is certainly vital for attracting new leads; however, you shouldn't ignore your existing customer base. Continuing to marketing to existing customers creates dialogue and helps keep customers engaged and loyal to your brand.
What works for another company will work for us too
No two companies are exactly alike, even within the same industry. Park of what makes a business successful is being able to articulate what sets you apart, and communicate that value proposition. Because your business is unique, your marketing strategy should be as well! To start, it's important to define your target audience and learn the right way to connect with them. This may change over time, which is why your marketing strategy should continue to evolve. Not everyone is your customer — prioritize quality leads for your business.
Results should happen immediately
Reliable, long-term growth takes time! While some marketing platforms can drive results quicker than others, it can take a few months to get an accurate picture of a paid campaign, and changes to your SEO strategy can take a few months to drive improvements.
Ready to take your marketing strategy to the next level? At Addison Clark, we specialize in helping businesses achieve their goals for growth through sound, data-driven marketing strategies.