Myths in the Industry
A few days ago I was tasked with creating a blog post, and I had no idea what I was going to write about. While researching many different blog topics to gain inspiration, I came across one topic that really caught my eye. It was myths in your industry. This really stood out to me, as these misconceptions are very common. So, here are the top five myths in the marketing industry.
Marketing And Advertising Are The Same Thing.
Now, I knew these two were different things and that they went hand in hand. And to be completely honest with you, I knew more about advertising than I did marketing. Upon more research I learnt what the actual difference between the two are. Marketing is identifying who their customers are, what their needs are and determining how to meet those needs. While advertising is the actual process of promoting a product or service through advertisements to entice consumers into buying what is being sold.
Everyone Is Your Customer
At first, this confused me because I’ve always been told that everyone is your customer. As I continued reading, it made a lot of sense to me. Every product and service has a specific target audience, and that target audience doesn’t always include the entire population. You wouldn’t advertise an all you can eat shrimp buffet to someone who is allergic to shellfish.
If It Worked For Another Company, It Will Work for Yours
This reminds me of when your parents used to say “…if your friends jumped off a bridge, would you?” Just because one company did something that was successful for them, does not mean it will be successful for yours as well. The products or services offered between both companies could be very different and have different target audiences, or different means of promoting their products and services. Radio advertisements may work better than social media posts, and vice versa, depending on what is being advertised and to who.
You Do Not Need A Marketing Plan
I remember watching Dragons Den with my mom every Thursday, and there would be at least one contestant that had no marketing plan. Even when the dragons were interested in the product, once they heard there was no marketing plan, they backed out, because products don’t sell themselves. A marketing plan drives sales and is important to promoting and growing your business.
You Do Not Need To Know How To Market Your Business
To me, this ties back into having a marketing plan. You need a marketing plan to know how to sell your products or services, and who you are selling them to.
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