Business First Family Business, Accounting, Finance, Investing, Marketing And Management
Having a really smart marketing strategy in place is vital for business success. Unfortunately, most companies out there do not see the reality behind marketing. Everything starts with some clear misconceptions that hamper the ability to promote services and products in a successful way. All marketplaces are competitive so you do need to make sure marketing is done right. Below, MJ Freeway’s dispensary POS software, showcases some of the really common marketing misconceptions, those that are going to hurt businesses.
No Marketing Plan Is Needed Since The Company Is Small
Marketing plans are vital for how the organization is presented. The strategy outlines target audience, tactics, budget, offers, channels and messages. When the marketing plan is not cohesive or integrated, money is wasted. Every single business has to plan marketing in order to get really good returns. This is true even for the smaller companies, no matter what managers think.
Advertising Is The Same Thing As Marketing
The advertising campaign needs to be seen as a marketing tactic. However, it is not at all the only thing that can be done. Unfortunately, there are so many out there that see advertising as being marketing when the truth is that marketing always includes many other things that have to be considered.
As already mentioned, a marketing plan is needed. That marketing plan is going to potentially include running ads, or not. If you want to get the proper exposure it is really important to think about all opportunities available so you can choose the best possible options, the ones that will increase exposure on the long run.
Customers Always Think The Same Things
One of the biggest mistakes that marketers make is thinking they know exactly what the customer wants, when the truth is that such information is really hard to get. Every single highly successful marketing campaign out there is backed by a lot of research.
Before you start marketing products or services you need to fully understand what the audience wants. This does mean investing in research. Customer research should always be handled by professionals that are independent. That is the only way to gain really insightful information that helps build very successful marketing campaigns.
Marketing To Current Customers Is Not Needed
Marketing is not just about finding brand new customers. It is also about properly taking care of the existing ones. One thing that many do not take into account is that marketing is also necessary to maintain current relationships. Your current customers are going to be exposed to brand new marketing campaigns coming from the competition. Always be sure that you stay in touch with your customers and that you actively engage them in your marketing campaign. In fact, when you take into account what your current customer database enjoys, there is a higher possibility of creating really good marketing plans.
On the whole, marketing is all about information and research. You can work with the most talented people in the world and still fail simply because you do not know enough to draft a perfect strategy.
