Nowadays, many businesses have terrible misconceptions about what marketing even is. The reasons why there’s so much confusion surrounding the marketing world vary, but we’ve met plenty of clients who had no idea where to begin when it comes to brand marketing. We hope this lesson will help provide some clarity.
Why is Marketing so Misunderstood?
Most misconceptions about marketing can be traced back to a few basic reasons.
Typing “what is marketing” into Google brings up thousands of results. Click to the second page, and they start talking about “marketing automation” and “marketing technology.” There is so much information, most of it peppered with random buzzwords, that can numb the brain of any marketing novice.
Another reason is that many marketing companies provide misleading information. We’ve read countless blogs that claim Facebook can grow any business’ sales exponentially within days. It’s a false, snake oil salesman pitch. Any marketing strategy requires time and energy to generate real results.
The two above reasons have led many businesses to believe that anybody who’s even remotely creative or data-oriented can step into a marketing role and cultivate success. The truth is, great marketing teams rely on a combination of creativity and data to work their magic. It’s nearly impossible to build a thriving brand marketing strategy if you’ve only got one of the two factors.
4 False Beliefs about Brand Marketing
1. Marketing is Advertising
Marketing and advertising complement each other, but they’re not one and the same.
While marketing refers to the building of lasting relationships between businesses and consumers, advertising is the presentation of the business’ services to those consumers.
In other words, marketing is a big umbrella under which advertising (along with many other promotional mediums) falls.
2. Old School Marketing Methods are Dead
Make no mistake about it, we’re strong proponents of the internet marketing revolution. We believe that every business should start digital before expanding into traditional methods of advertising.
But that doesn’t mean you should sleep on old school marketing methods. Billboards, radio spots, newspaper ads and branded, promotional gear to give away pack a marketing punch that will resonate with the world for generations to come.
3. It’s too Hard to Track Return on Investment
As some brilliant marketers put it, return on investment (ROI) is the only three-letter acronym small businesses should concern themselves with. All marketing companies should demonstrate the results of their efforts to their clients.
However, some businesses expect instant gratification. Many marketing agencies are good at what they do, but that doesn’t mean they can multiply your business’ revenue in the blink of an eye. Some strategies may bring immediate sales, while others are focused on building brand loyalty.
If you consult with your marketing team, they should be able to provide you with metrics relative to your ROI.
4. Your Business is too Small for Marketing
Marketing is the means by which you present your business to the world. No matter if you’re a global corporation or a one-person operation, you’ve got to consider how the public perceives your business. Even a tiny marketing budget is better than nothing.