Four Marketing Misconceptions to Look Out For
Four Marketing Misconceptions to Look Out For
The way we do business is always changing. New technology and marketing trends are constantly appearing, so it’s easy to get lost in the noise.
Here are four marketing misconceptions your business should watch out for.
#1: Marketing and advertising are synonymous.
Many people assume marketing and advertising are the same thing, but they’re not. Advertising is paying to get your message in front of a targeted group of people using different mediums.
Marketing is about changing how people perceive and feel about your brand. It can develop your brand voice and enable genuine conversations with your customers. You can personalize messages and content that will actually reach people who are interested and not just those you paid to reach.
Figure out who your audience is first before you start spending money on ineffective ads.
#2: Everyone is your customer.
While it’s nice to think everyone is going to love your product or service, the truth is your offerings will only appeal to some. While segmentation is useful to identify different markets, the messages you create for each market are dissimilar which can weaken your brand.
You need to identify and target an Ideal Customer. Once you know who that customer is, you’ll be able to focus your resources on them, which will be more profitable in the long run.
For example, when I imagine Adidas’ Ideal Customer, I think about someone between the ages of 18 and 29 who is passionate about sports. They go on runs every morning and visit their local gym at least three times a week. This person values quality and wants reliable, stylish shoes that make them the envy of everyone in the gym.
Understanding your customer in-depth allows you to recognize what that customer needs most from you and your brand.
#3: “Word-of-mouth” is the only marketing you need.
Although WOM can be powerful, relying solely on it could present you with certain risks. WOM can be difficult to control because brand representation is entirely in the hands of your audience. There is a possibility that your customers will control your brand narrative, which can have unpredictable results.
Word-of-mouth marketing should always be supplemented with paid marketing or advertising that accurately represents your brand vision. Keep the conversation with your audience open so that you can learn more about them. You’ll be able to use your audience’s perceptions to shape the paid marketing you produce.
#4: Quality products and services sell themselves.
While package design, logos, and websites are nice to look at, they won’t do all the selling for you. A brand must make the effort to connect on an intimate level with its customers to create the bonds necessary to foster Irrational Loyalty.
This is where branding comes in. Branding is less about the brand and more about the person who uses it. It’s about the deep foundational stuff under the surface that helps you understand your Ideal Customer so you’re able to produce the right copy, images, and messages for that customer.
Before you start branding, answer these three questions:
What does your brand say about your customers?
What is the singular thing your brand delivers that customers can’t get anywhere else?
How do you make your customers a hero in the story of his or her life?
After you’ve answered these questions, you’ll be better prepared to define a powerful brand strategy.
For a deeper understanding of how to think about and fulfill your customers’ needs, schedule a brand consultation today!