As simple as the word, ‘Marketing’ sounds, it can turn out to be very complex, with the plethora of tools, platforms and techniques available at one’s disposal. While coming up with the right strategy is the trickiest bit, setting appropriate timelines and goals for each activity is also equally crucial. After all, marketing is a risky investment you make and the results may take a lot of time to start showing.
While brainstorming with your team or external agency, you may realize that there are a lot of myths and pre-conceived notions about the marketing process. We are writing this article to clear some basic misconceptions around it and also to tell you the truths of what really works and what doesn’t work:
Myth # 1: Marketing gives immediate results
Truth: It is a slow and thorough activity where achieving large and specific goals requires a lot of patience and perseverance.
Most brands approach marketing with certain expectations and want quick results. It is great to set predefined goals for your marketing efforts, but you cannot put an end to those efforts if they are not yielding immediate results.
The best and most elaborate marketing strategies are created after undergoing a thorough process and can take anywhere between three to six months to mature. The process involves an in-depth research, target segmentation and a detailed product roadmap. It is then broken down into a phase-wise content plan with curation of visual elements which the customers can relate to.
Once this master plan ready, then comes the most crucial bit – consistency! And this is very, very important. So have faith in your strategy, keep at it and sooner or later, you will see some great results coming out of it.
Myth # 2: A marketing plan/road map needs to be big, complex and is very expensive.
Truth: A marketing plan can involve a simple strategy, covering the main action items, and if done well, can even be economical.
Your marketing plan does not need to be elaborate. As long as you have a clear understanding of the positioning of your company, the target audience, the tactics you will use to reach out to them, and a fixed call-to-action you want to promote, you are good to go. This plan is something that will keep getting refined as you move forward with your campaigns. So it is good idea to take the process slow and steady rather than going all out. If you are too confused to take charge of this on your own, you must take the help of professionals or an external agency, because a solid and straightforward marketing plan can actually help you save on some bucks and help you generate revenue faster.
Myth # 3: Sales people don’t know anything about marketing
Truth: Sales people are, in fact, the ones who know the most about their consumers and can add great value to the marketing process.
As part of the sales process, the sales guys go through a journey with the consumer where they understand their psychology at every level of the conversion process. And this is what helps create content! Good content is the core of marketing; it is what helps the brand resonate with the consumer and relate to it, and eventually pay money for it. So marketing guys should absolutely not be ignorant of the value the sales team can add to their work, and involve them actively for inputs.
Myth # 4: Pricing is not part of marketing
Truth: Pricing plays a huge role in marketing and a product that is correctly priced can largely help beat competition
When it comes to marketing, a phrase that is often used is ‘It is all about the packaging’. Sure, this statement is true, but no matter how well you package a product, in the end it is about convincing the customer to pay money for it. Hence, pricing plays a very important role in the success of marketing. Whether we refer to the pricing for a niche product where the ticket price is kept high to maintain exclusivity, or a fast-moving product where the pricing is low and competitive, the figures play a huge role in how the products are bought, sold and promoted.
Successful marketing always begins and ends with the customer. If you cannot please the customer, create value for them and generate a need for your product in their life, all advertising would fail. So make sure you have a great product and and then create a strong and healthy marketing strategy for it, which would help your business grow.