I went out on a date with my wife the other night with some really good friends of ours. We go to the same church, we have some mutual friends who are missionaries in Rwanda, we all love international travel, and admittedly, we shared an enthusiasm for a several of the same TV shows. One that didn’t make my list was one of my friends’ favorite shows called “MythBusters” on the Discovery Channel. The gist of the show is to tackle old urban legends, wives’ tales, and other claims by determining their veracity in perhaps somewhat flamboyant and entertaining way (made for TV right?)
There are probably a hundred myths that small business owners hear each day. The discipline of marketing is chock-full of assertions and postulations, so let’s pick 5 popular marketing myths and test their truthfulness.
MYTH 1: “You gotta spend money to make money.”
True and False. The truth is that if you are not investing, you’ll never claim ROI. If I call my broker and say “how’s that stock of mine doing that I never bought?” he’d consider me a fool for expecting any returns. You spend money on inventory, software, furnishings and of course payroll in hopes that it will turn a profit. Why would you expect strong marketing results without putting some serious resources behind your efforts? However, the claim of having to spend massive amounts of marketing cash has been shattered by the host of affordable and sometimes, FREE marketing tools and ideas available. When I was starting out my consulting business, I heard my marketing coach share some of the most creative solutions that proved that your marketing budget doesn’t have to be huge. One idea I heard was to cut down advertising space by excluding all the bullet points and claims about my services and simply drive people to my website prominently displayed in my ad. Your 1/4 page advertising space in the paper is significantly reduced and you get to have the equivalent of multiple billboards on your site. And with the rise of social media, you can engage in interactive marketing and community networking so that you trade in that cash outlay of expenses for time cultivating relationships and building awareness in a variety of online networking forums.
MYTH 2: “All the old ways of advertising are gone. Everything is online now.”
False and True. There are many in my field saying that traditional methods of marketing are of no value. Newspapers continue to announce their exit from the print world. Phone books immediately get tossed to the recycle bin. But you should probably give the boot to anybody on your marketing team with a dogmatic stance against conventional marketing methods. Why? Because it’s demonstrating that their marketing philosophy is based solely on trendy copycat marketing. Trends are worth exploring and in certain occasions, it may be time to explore ways of marketing your services better through Facebook or by creating a blog to sponsor a community-based conversation. Your marketing decisions have to be first and foremost based on who you are targeting. If your target market is not online, then direct mail or demographic-specific newspapers may be the most effective reach into their world And sometimes, even for guys like me who spend hours a day on Facebook and Twitter, even the most simplistic methodology can make the connection from my need to your solution. The picture above was taken at the intersection a mile from my house. I noticed it because, the night before, my wife and I were wondering where we might find information about girls’ summer softball for our oldest daughter. I eventually got to a website with more information, but this less-than-slick sign provided me the necessary information I needed to sign her up exactly when I was looking.
MYTH 3: “Build it and they will come.” (your website that is)
False. A marketing coaching colleague of mine recently shared a story about a client that launched his first website last year and was disappointed that after 3 months he wasn’t getting more than one or two hits a day. Constructing a website is like building a house right in the middle of a busy neighborhood which is located in a crowded subdivision in a major metropolitan city. You will know it’s there, but without some effort on your part, it will continue to exist in anonymity. Like the quiet voice in the middle of a sports arena, you will not get noticed simply because you exist. Drive people to your site. You can build traffic by invitation. Targeted online advertising can connect your site (based on some strategic keywords you use) to the needs of searching consumers. Blogging and online press releases continue to provide consistent, fresh content that grows your website so that more people will find you. Announce to prospective buyers that a special coupon can be found on your website instead of giving to them in a newspaper ad. Combine the efforts of permission-based email marketing to link people’s inbox to your location online. No, they’re not going to come simply because you created a domain name. Practice hospitality and invite them.
MYTH 4: “When we make some more money, we’ll spend money on a marketing plan.”
The truth is that you may feel you to need to make some cash in order to pay a marketing consultant to help you with constructing such a plan. While that makes practical sense, would you consider building your dream house that way? While you might get out there on your own and lay some pipe and throw a little concrete and bricks together, but your work will soon come to a screeching halt because you are not well organized in the beginning. I’m not sure how many people are going to enjoy the longevity and strength of a well-built home without having first sat down with an architect. When it comes to marketing, you need to launch on a strong foundation. Affordable marketing planning software is available as well to help as well as the assistance of a marketing coach.
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