Marketing Myth Busters

Myth #1: You can't measure marketing effectiveness Of course you can. Here's an example: Say you spend $100 to reach 10,000 households with a mailing campaign and get 10 responses. This means that it costs a penny to reach every potential customer on your list — while the price for each response comes to $10. So, not only can marketing be measured, it should also be measured so you'll know what works and what doesn't.Myth #2: Marketing is just advertising and PR This is just plain wrong. Marketing is all about how you'll win customers. Marketing starts with a clear message about what makes your product or service better than the competition. It also includes pricing — as well as advertising and PR. It's important to understand, though, that the purpose of marketing is to increase sales. Make sure your marketing is directed at your potential customers — otherwise you may find yourself spending money on things that look nice, but don't result in new customers or sales.Myth #3: You don't have to market to existing customers Don't believe this for a second. Satisfied customers need to be reminded that you are available to handle their needs. That's why you'll want to keep track of your current and past customers, offering special deals and new items to this group of people who are the most likely to patronize your business and recommend you to others.Myth #4: You have to get permission before mailing people information about your company Not true, but you should think carefully about how you contact potential customers. Some people don't like ads and won't read unsolicited mail. As for emailing people who haven't agreed to be contacted this way by you - don't! Nearly everyone hates spam, you do need permission to send emails, and these mass emails usually end up angering people more than anything else. Email campaigns are most effective when they're targeted at people who have agreed to be on a mailing list.  When done right, email marketing can be extremely effective.Myth #5: Getting a Web site for business means spending a lot of money Not true at all. Most Internet service providers offer Web hosting services for anywhere between $10 and $50 a month. E-commerce services are usually available for the same price range, too. What's more, most companies that provide Web hosting services also have packages that will help you with site design for under $100. These days, it's helpful to think of a Web site as being as important — and about as expensive — as having a telephone.Myth #6: Putting up a Web site will give you a lot more customers This remains one of the most common marketing myths of our time. Yes, a Web site is as much a part of running a business as having a telephone. But just because you have a Web site doesn't mean that potential customers will be able to find you. And just like your telephone number, your Web site's address should be printed on everything associated with your business name — business cards, advertising, flyers, and letterhead.You may also want to check into online advertising with search engine companies. In these arrangements, small ads are place on Web sites the search engine company thinks some of your customers may visit.As for how to make sure that people find your company through Web searches — well, the jury is still out on how to best accomplish this. Your best bet will be to make sure you include your location and an accurate description of your business on your Web site.Myth#7: You have to advertise with a newspaper before they'll write about your business If you're angling for a story, emphasizing to a journalist that you advertise in his or her newspaper can be a big mistake. Most reporters feel very strongly about their objectivity and freedom to write what they want, even if it's a small article about something happening locally. That's why it's important to understand that a newspaper or magazine still may be a great place to advertise even if it doesn't write a story about your business.Myth #8: You can't run the same ad over and overYou certainly can't recycle a Thanksgiving special on Easter, but there's nothing wrong with consistency in your advertising — especially if your selling message works well. That's why many successful businesses run the same or similar ads in newspapers, magazines, mailers, and the phone book.Myth #9: The only way to compete with big companies is to lower your prices Not true; otherwise many small businesses wouldn't be able to take customers from the big box stores. If you compete with a large company, there are probably a number of ways you can get customers without lowering your prices to the point where it doesn't make sense to be in business. You can emphasize quality, superior customer service — and increasingly important to many people these days — that your business is a local company and part of the community.Myth #10: Low prices will make your services or products appear second-rate It depends. If you're offering high—end products like luxury yachts for a few thousand dollars, people will be suspicious. But if you're offering things in large quantities, people will expect low prices. Other products and services — from plumbing to pastries — are often advertised as being both low-cost and high quality.Article from www.jump.com: JumpUp is a free website and community from Intuit that helps new businesses get up and running successfully. 2008-04-14T18:17:36Z

2008-04-16T14:12:45Z

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2008-04-16T14:12:36Z

Attracting customers doesn’t have to be difficult, but it helps when you can make informed choices about how you spend your marketing dollars.

Marketing Myth Busters

2009-02-24T09:43:56Z