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7 Marketing Myths Busted!

There are a few marketing myths about that can seriously affect your bottom line if you base your marketing purely on them.....

Myth 1 – People base their purchasing choice purely on price

What People want is value for money – this is very different from cheap.

Most people have heard the saying “cheap and nasty” and that is in the back of people’s minds when they see something that is priced cheaply especially if they have had a bad experience previously.

If people perceive they are getting more value from your product, if it will benefit them better or if they get something extra included this is giving them more value from their point of view and they will happily pay you more for your product.

 

By Increasing the perceived value of your goods and you will actually be able to increase your prices and still outsell your competitors.

 

Myth 2 – Offering more choices increase sales

Offering too many choices often has the opposite effect.

When faced with a number of options, a lot of buyers have trouble making decisions – they don’t know which is better so often they chose none giving you a drop in sales instead of the increase you were hoping for.

 

Take the confusion away for your customer by offering a select range and make it easy for them to buy from you. Then the only decision they then will need to make is how do I want to pay for it.

 

Myth 3- The wider the advertising the more new customers

While it is true you will get a wider exposure the more your business is advertised, your need to need to target your advertising to those who will benefit from your product to get the best results. Not everyone wants every product that hits the market each year!

 

By focusing your marketing efforts to the delivery methods your ideal customer reads, the more effective your marketing campaign will be saving you both time and money while getter better results..

 

Myth 4 – The flashier the website the more it will sell

Wrong! The more things you have flashing or popping up over your website the more confusing and harder you are making it for your customer to find what they came to buy. They have already found your site, why distract them and possibly discourage them from completing their purchase with you.

 

An effective website guides your visitor easily find what they are looking for with minimal distractions You only have a couple of minutes to capture your visitors interest and help them find what they are looking for so that they can purchase from you. An easy to navigate site with minimal distractions will increase your chances of a sale over the flashy banners and pop ups ads that distract and run the risk of them following a different link and leaving your site.

 

Myth 5 – Social media is only a chat site

While social media may have started out as a place for people to meet and chat, it has grown into a viable place to let people know who you are and what you do.

 

Social media is basically an online version of word of mouth advertising and is part of viral marketing – where people spread the word about things they like or don’t like. There are many different social media sites on the internet and they are another good way to get visitors to your web site.

 

Myth 6 – Traditional businesses don’t need a website

We live in a society where everything is online at our fingertips, so this is the first place most people look for what they want. If your business does not have a web presence you are missing out on a lot of extra customers being able to buy from you

 

Myth 7 – Marketing is too costly

Marketing and promoting your business doesn’t need to be expensive. The right targeted ad utilized with the right marketing medium will be both cost effective and rewarding.

 

Marketing is an investment in your business growth and should be looked upon as such. Without marketing and promoting your business how do customers know you exist?

 

A good marketing piece, targeted to your ideal clients that are placed where they look will give you a good return for each dollar you invest in your business promotion.

 

 

Tips for success

Focus your advertising on the market places where your product offers a solution or solves the needs of your customers. Focus your advertising and marketing pieces on them as opposed to trying to be everything to everyone in any single marketing item. This will give you a far better return on your marketing expenses and bring you more sales.