Marketing is an area that many business owners struggle to systematize. Adi Klevit recently discussed this issue with Ryan Redding of DP Marketing Services. In this interview, he shared five marketing myths that get in the way of building successful marketing processes. Listen to the full interview here and read the article below to find a summary of the five marketing myths – along with what you can do about them.
Debunking Five Marketing Myths
Myth #1: Marketing is a black hole, and you (the business owner) won’t understand anything.
This myth occurs when you aren’t sure what is working, and you feel you’ve been forced to throw money at marketing tools when you don’t understand the mechanics. This often happens when your marketing team is opaque about what they are doing with the company’s investment. It can also occur when you don’t have appropriate metrics in place.
Here are six things you can do to avoid falling into the “black hole” trap.
1. Employ a team or firm that you trust.
2. Ask for metrics and make sure you understand them.
3. Get educated on the platforms or tactics used – and ensure your team is also educated in these areas.
4. Understand the marketing priority and ensure it aligns with your business priority.
5. Always ask the “silly question.” Your marketing team should be more knowledgeable than you in the area – so if you have a question you feel will make you look like you don’t understand the marketing system, that’s ok. You should still get it answered.
6. Set up marketing retrospectives regularly to find out what works and does not.
Myth #2: You can just push a “marketing” button mindlessly, and magic will happen.
On a micro level, this is the feeling Facebook counts on when they tell you to “boost a post.” It feels like giving a post a boost will give it a chance to go viral. But, many elements must be thought through before one simply pushes that button.
On a macro level, this is often the hope of a business owner who doesn’t want to deal with marketing. There are about a million marketing strategy sheets listed on the internet for every industry, and each one seems to say, “just follow these steps, and you will double/triple/10x your sales.” The idea that you can hire someone or a company or use a tool, and you don’t have to understand how it all works can be tempting. You have enough going on.
However, that’s not how anything in the business world works. Including marketing.
The best way to create an efficient marketing plan is to dive in and build one that works for your company. That may mean hiring a few professionals, mixing up steps from several plans, or even testing many different strategies to find the best ones for your business. It could also include building surveys and discovering information from your clients or potential clients.
Consider marketing in the same way you consider sales or building your product. You want a custom solution that works the highest number of times at the greatest efficiency. Work with your team to make marketing processes that fulfill this goal.
Myth #3: Marketing Drives ROI.
The truth is that marketing can undoubtedly provide a return on investment, but Operations truly drives the ROI. Marketing will only take a business so far. If your company sells broken products or provides subpar service, no amount of marketing will provide you with the return on investment you need to make your company a long-term success.
Marketing creates demand and drives business to the front door or your website. Your team needs to have the business systems in place to rapidly service customers and provide an excellent product.
On the other hand, you could have the best processes and the best operations. But, if the phone is not ringing, there are no customers to experience your amazing products and services. So, Operations and Marketing should work hand in hand.
Myth #4: All marketing is created equal.
There is a myth that no matter the type of marketing a business chooses, they will get the same outcome. In reality, this is not how it works. Business owners need to understand where to spend their marketing dollars and determine what works best. For example, a company may be marketing on TV, radio, billboards, social media, Google, and direct mail. That broad strokes effort may lead to many customers. But, it’s essential to understand where the majority of customers come from and put your marketing investment into those areas.
This is another argument for having and understanding marketing metrics – and building processes to replicate past successes.
Myth #5: Marketing is a magic bullet that can solve your business woes.
The first instinct of struggling businesses is to think they just need more customers. Unfortunately, if the company is not being run efficiently or has sloppy operations, all that more customers would do is cause pain in the business and overwhelm the staff.
This is why Marketing and Operations need to work hand-in-hand. Both departments need efficient processes in place so that Operations can provide excellence to the customers driven in by marketing.
This requires a real look into a business. The owner must ask themselves, “what is going wrong with the company – and how can I fix it?” If time, money, and even customers are being wasted by inefficiencies, they must be resolved before marketing steps in.
If you are considering what you should build next, get in touch with Business Success Consulting Group. We specialized in helping businesses document and implement their most successful systems so that everything from Operations to Marketing works holistically to grow the company. Get your no-cost evaluation today.