A 1932 cartoon from Ripley’s Believe It or Not! declared that the Great Wall of China is “the mightiest work of man, the only one that would be visible to the human eye from the moon.” After his historic moonwalk in 1969, Neil Armstrong faced numerous questions from those wondering if he saw the Great Wall.
“The Great Wall of China is one of the few man-made structures visible from the moon.” Granted, that’s an intriguing and powerful statement.
The problem? It’s a myth. Although the Great Wall spans some 4,500 miles, it’s only visible from low-earth orbit under specific weather and lighting conditions. The wall’s stone and clay makeup blends well with the surrounding terrain. And not even Neil Armstrong could see the Wall from the moon.
Did you know that myths also abound about marketing? Take a few minutes to evaluate the following marketing myths and ensure they do not hinder your business efforts.
Myth #1: “Good products don’t need marketing.”
FACT: No matter how innovative your products are, they won’t magically market themselves.
Ralph Waldo Emerson is credited with saying, “Build a better mousetrap, and the world will beat a path to your door.” While this statement emphasizes the power of innovation, it fails to answer two vital questions: “How will the world know about your mousetrap?” and “How will they find your door?”
That’s where marketing comes in.
- Marketing informs the world that your products and services exist.
- Marketing requires research to identify your ideal customers and lets you target them with information about how your offerings can solve their pain points.
- Marketing highlights your offerings’ unique features, benefits, and value, differentiating them from your competitors’ offerings.
- Marketing tells a compelling brand story to cut through the noise of today’s crowded marketplace and shape how your customers perceive your products.
- Marketing shows your ideal customers how to do business with you and guides them through your sales process.
In the digital age, your ideal clients have at their fingertips a kaleidoscope of products to choose from. Without effective marketing, how likely will they be to find the path that leads to your mousetrap shop?
Effective marketing communicates the quality and value of your product to your potential customers, increasing the likelihood of your product’s success in the market.
Myth #2: “Marketing is all about selling products.”
FACT: Selling is only one aspect of marketing.
Of course, advertising to sell products is an integral part of marketing. It is not the sole purpose or entire scope of marketing.
Effective marketing also includes these focuses:
- Creating awareness and interest in your company and offerings.
- Promoting brand awareness within your industry.
- Studying market insights, competition, and trends.
- Equipping your employees to communicate clearly with clients about your products.
- Understanding customer needs and behaviors to establish emotional connections with them.
- Meeting customer needs to foster trust in your company.
- Nurturing long-term relationships with your customers and fostering brand loyalty.
Effective marketing focuses on identifying and meeting the customer’s needs. Advertising, while a legitimate marketing component, can easily focus on self-promotion and quick sales.
Biblical marketing focuses on fulfilling our stewardship obligations and our call to serve those around us while making an honest living.
Myth #3: “Marketing is just about getting new customers.”
FACT: Marketing is integral to building relationships with your existing customers.
Every growing company wants to attract new customers, but new customers cannot replace nurturing relationships with existing customers. According to HubSpot, your company has a 60-70% chance of selling to your existing customers and only a 5-20% chance of closing a sale to a brand-new customer.
Why does effective marketing focus on retaining loyal customers?
- Retaining customers costs less than attracting new customers.
- Quality products, exceptional customer service, and addressing customer needs and concerns create satisfied customers.
- Satisfied customers become brand ambassadors for your company. Word-of-mouth advertising is one of the most effective advertising techniques.
- Loyal customers are prime candidates for up-selling and cross-selling. By promoting offerings that complement or enhance a customer’s initial purchase, you can build the customer’s value to your company.
- Your existing customer base is the clearest snapshot of your target market and how to understand them. Learning how to communicate with your ideal clients equips you to move from shouting, “Hey there!” at random strangers to engaging in meaningful conversation with prospects you already feel comfortable around.
Effective marketing cultivates a broader focus than getting new customers. It strategically builds relationships with existing customers to fuel long-term business success.
Myth #4: “Marketing guarantees immediate results.”
FACT: Patience is a key to effective long-term marketing results.
Christian businessmen take their stewardship responsibilities seriously. They don’t spend frivolously. They expect investments (including marketing) to yield measurable returns. The sooner, the better.
If marketing doesn’t generate immediate results, a businessman may feel inclined to abandon marketing altogether and divert his marketing budget to other needs.
Marketing is less of a sprint than a marathon. A business cannot realistically expect to run a 60-day marketing campaign and receive a 200% boost in its sales. Why?
- It takes time for customers to become familiar with your company and its offerings. Marketing efforts to build brand awareness are difficult to measure and are unlikely to produce immediate results. They pay dividends in the long term.
- Customers need time to navigate the decision-making process from awareness through consideration to purchasing. Marketing can help them compare products and weigh options but cannot guarantee an immediate purchase.
- As your marketing efforts highlight the value of your products and services through testimonials and reviews, your prospective customers grow in their trust of your brand. Trust does not develop overnight.
- Changing market conditions and shifting competition can influence how quickly your marketing efforts yield results.
Invest in marketing, understanding that it is a long-term strategy requiring consistent effort and patience to yield results. Be willing to adapt as necessary, but be also willing to stay the course. As Wayne Dyer said, “Infinite patience brings immediate results.”
Myth #5: “As long as I have marketing material, it doesn’t really matter how it looks.”
FACT: Keeping your marketing efforts consistently aligned with your brand is crucial for long-term effectiveness.
Have you ever been tempted to save marketing dollars by having family or friends create various pieces of your marketing collateral? Your son enjoys English class. Surely he can write your brochure copy. A church brother dabbles in web coding. He can create an inexpensive website. A neighbor took graphic design courses in high school. His brochure design will be good enough.
Hiring a marketing agency doesn’t guarantee perfect results, but it can help achieve the premium, consistent marketing materials necessary to convey a professional, trustworthy brand image for your company.
Why do brand consistency and quality matter?
- You never get a second chance to make a first impression. Whether it’s your website, an advertisement, or brand swag, the quality of your marketing materials will either instill confidence or plant doubt in your customers’ minds.
- High-quality marketing materials reinforce a high-quality brand image and help to position your brand favorably in the marketplace.
- Well-designed marketing materials set your brand apart from your competitors.
- Consistency pays off. Keeping all your graphics, messaging tone, and even fonts aligned with your brand makes your content easily recognizable and rivets your brand message in your customers’ minds.
- Appealing, thoughtful marketing content draws potential customers. It increases the likelihood of them connecting with your brand and engaging with it.
- Creative content aligned with your brand will attract more of your ideal customers.
High-quality marketing materials can save you money in the long run by making your marketing more effective and reducing the number of opportunities you miss.
Wrapping it up.
Myths are stubborn things. They can influence thinking and planning for generations. A myth about the Great Wall being visible from the moon has little negative effect on your personal or business life. Believe it if you want.
Believing a myth about marketing can shackle your business planning and marketing flexibility for years to come. Be open to banishing these myths from your mind.