For the growing business, the implementation of carefully targeted, high-quality marketing initiatives can make all the difference. The world of marketing, however, consists of a broad amalgamation of techniques and sub-disciplines that should, ideally, work harmoniously to convey what people need to know about your business. How does a company ensure that they’ve maximized the variety of options that marketing can provide?
Guerilla Marketing guru Jay Conrad Levinson recently wrote his thoughts on the most frequent mistakes companies make with their marketing initiatives. Through a list of 11 missteps, the problems are effectively boiled down to three main misconceptions:
1) The heart of marketing lies in the superficial, the “whiz-bang”, or the punch-line.
2) A business only needs one marketing mechanism at a time.
3) If the marketing is good enough, the results will be quick and earth-shattering.
The first of these errors takes hold when marketing executives lose site of their main purpose, which is to motivate people. Distracted from the primary mission, they might aim for a clever or humorous marketing stratagem. This is a trap. While humor or cleverness can successfully engage a potential client or customer, chances are those elements will overshadow the product or service you’ve set out to promote. Similarly, too much emphasis on entertaining your audience can eclipse your product or service as well. The job at hand is to make the truth fascinating – not to entertain for the sake of entertaining.
The second common mistake, especially in the case of many small businesses, is under-executing– implementing only a pinch of the marketing ingredients at your disposal. Marketing areas such as direct mail, telemarketing, brochures, or phonebook advertisements, when executed properly, can provide a fantastic ROI for the growing company. Any of these elements alone, however, is just a drop in the bucket and can prevent you from reaching the full breadth of your target audience. Diversifying your marketing initiatives isn’t an extravagance – it’s a necessity.
The last, and arguably the biggest, misconception is that marketing is a “panacea” for the business; one that results in customers breaking down your doors moments after the launch of a campaign. It is true that strong marketing efforts will (and should!) correlate to increased profits, but it’s seldom overnight, and it’s wrong to expect miracles. As will many other aspects of growing a business, patience is a virtue.
So if these are the misconceptions, what is a true picture of marketing? As stated by Levinson, “Marketing is an opportunity for you to earn profits with your business, a chance to cooperate with other businesses in your community or your industry and a process of building lasting relationships.”