09 Sep 5 Marketing Myths – Busted
I have a great job as Chief Solutions Officer because I am able to sit on the sidelines of several amazing businesses and business leaders. As a side bar, in the next couple of weeks, I will be introducing you to our fantastic clients.
But being on the sidelines has granted me the opportunity to see smart marketing in action and some unrealistic expectations on what marketing should be doing. Here are some marketing myths that we’ll debunk for you.
Social media will bring us sales.
I have yet to see a new customer come from a tweet. I have seen customers create a slow and steady following through their social media, but am still waiting on seeing a potential customer read a tweet and decide to hire one of my clients.
Spending significant money on building a social media following is just plain wasteful. What you can be doing is creating regular and content-rich messaging for your social media channels.
We recommend using your current social media investments to build your email list. Start collecting your followers’ email addresses so you can communicate with them directly. Use what social media investments you have to build your email list.
I think they could be a customer.
If you don’t understand your customers, you might as well donate most of your marketing budget to charity.
Study the hearts and minds and behaviors of your audience. Do this before you define strategy, before you buy advertising and before you create content. Figure out what to say to them, how to say it, and where to say it.
The whole point of your marketing is to reach your audience. You have to KNOW who they are.
I am not sure why they are here.
Who are your top 20 customers? That lot probably accounts for at least half of your revenue. So, how did you cultivate those customers? Take those tactics of how you harpooned your top customers and see how you can apply those tactics to marketing strategies.
Let’s buy a one ad in the Wall Street Journal.
I cannot tell you how many times I have heard a client say that they want to buy an ad. Just one ad. No. No. No.
There are plenty of cool marketing tactics to try. Some of them work great, but most of them don’t – especially if you’ve only got one shot to make them work.
Testing is key when crafting marketing strategies. Test outreach with a small investment. For example, Kadie Solutions has a client which purchased a small mailing list to gauge possible new interest in a product. After 30 days, we will evaluate and then decide to make a major investment in additional outreach to new customers.
I think our marketing is working.
You probably have Google Analytics set up, but are you using it? What are you learning from it?
Most small businesses I talk to don’t have good answers to those questions because they don’t know how this the tool works. Take some time to learn via Google’s free online Analytics Academy—it is a great resource.
At Kadie Solutions, we’ve heard these marketing myths before. We evaluate customer success at the end of each month. We look at what email campaigns were successful, social media trends, website visitors, press coverage and then sales for the month. As my father told me, numbers never lie. Marketing success should not be grey, it should be black and white.
Marketing evolves fast these days. While I just told you to focus on what works, I also recommend trying a couple new things every year. Given the way marketing is evolving, we’ve got to evolve, too.