3 Deadly Marketing Misconceptions Every Business Should Know and How to Avoid Them
Everyone has different ideas when it comes to marketing. Let's talk.
How many deadly marketing misconceptions do you have?
I have 3.
I guarantee you have an opinion when it comes to marketing. Maybe, a boatload.
You will scroll through the social media feed one fine afternoon and suddenly find yourself commenting on the digital marketing campaign. You think it should be done that way, instead of this.
You may come across your company’s advertising and start scratching your head. What we are doing is a wretched question that never goes away.
I want to address 3 marketing misconceptions you may have:
To market is to promote.
Marketing is for the marketing team.
Marketing is a cost center.
I will begin with my classical favorite.
Misconception # 1 — Marketing is about Self-Promotion Until No End
“No one promotes Grant Cardone better than Grant Cardone.”
We are not comfortable with self-promotion. Fortunately for companies, they can hire professionals to promote the company’s name. It is easier. After all, we are promoting someone, something else.
But that is not the point.
You will understand the importance of marketing your content, work, client testimonials, portfolio of success if you are a freelancer-entrepreneur type. Without telling the world what you do, no one knows what you do.
No one knows you exist.
And if no one knows you exist, how would they know your work and you are selling such products and services?
Let us change the way we think.
We market ourselves and our work because we are searching for clients and we are trying to get the best deals from the market.
How does that sound?
Misconception # 2 — Marketing is for the Marketing Team
It is common to think so. After all, that is the job of the marketing department.
“Brand equity is the sum of all the hearts and minds of every single person that comes into contact with your company.”
Yes, I agree with Betzter. Branding and marketing require the involvement of everyone in the company. Customer success managers, sales professionals, call center operators, and entrepreneurs have one thing in common.
They are telling and showing the world what it means to work with them and the company they represent.
Why do you think a select few entrepreneurs talk about and market their companies at every single opportunity?
They want people to know that the company exists and his/her people are doing good work. Savvy entrepreneurs understand that. Intelligent side-hustlers and freelancers too.
Misconception # 3 — Marketing is a Cost Center
Pretty honestly, this is a weird one.
Marketing has been regarded as a traditional cost center for the following reasons:
Not responsible for revenue success.
Measured this way, the marketing department is no different than any other non-revenue generating center.
Allow me to share the contrarian perspective.
“Customers create revenue and Marketing’s job is to find, keep, and grow the value of customers, so clearly Marketing is an essential part of the revenue equation.”
- MAKE THE SHIFT FROM COST-CENTER TO VALUE-CENTER
Think of the sales department as the attacking infantry unit and the marketing team as the supplies and logistics division. Without supplies of ammunition, weapons, food, medical supplies, the army in front will have to fight the way with tree barks and banana peels.
I agree with the quote.
Marketing may not be the direct revenue center. However, it is definitely one value creation core no entrepreneurs, freelancers, and side-hustlers can afford to ignore.
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Why we buy what we buy.
Marketing on a Dime.
Our goal is to share our research with our community from a practitioner's standpoint.
Having misconceptions is normal. We have to learn to deal with them.
We do that by focusing on our business need to find customers and then attracting them to do business with us.
The job of Bottomsup Perspective is to research, discuss, and share our findings so our community can grow with us.
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On Behalf of the Bottomsup Perspective Team