Myths of Marketing – Banish Your Misconceptions – Create Better Business
Marketing is one of those disciplines which everyone has to engage with, in some guise, but few really understand. Many Business Owners, Managing Directors and Senior Ex-ecutives often fail to utilise the true power of marketing and the contribution it can make to creating really successful companies.
This workshop deals with many of the falsehoods that exist about marketing. It tackles some of the outdated assumptions that may have been true in a different era. It debunks many of the slogans and conventions that don’t stand up to proper scrutiny in today’s business world in order to open the eyes of attendees and enable them to unleash the power that good marketing can provide.
In this session we will explore:
Myth 1: Marketing is just communications. Marketing isn’t only about communications. This myth will address exactly what marketing is to provide a proper understanding.
Myth 2: Every business is a brand. Many people assume that with a name and logo every business is a brand. This will en-lighten attendees as to what a brand is and its true purpose.
Myth 3: Business to business purchases are purely based on logic. It is mistakenly thought that in business decision making is rationale. This leads to ineffective communications and is costing companies money.
Myth 4: A successful business requires a compelling USP (unique selling proposi-tion). The USP was first written about in the book ‘Reality in Advertising’ by Rosser Reeves in 1961. Today it often prevents organisations from being truly different.
Myth 5: Market Positioning is all about the product or service on offer. Market positioning is not really understood and is key in creating competitive advantage. Senior executives must comprehend its importance in a world where customer perception is everything.
Myth 6: Our offering must attract the largest audience possible. Failure to properly segment and target the market is one of the fundamental reasons mar-keting is unsuccessful.
Myth 7: The customer buying journey is no longer a linear process. Customers now dip in and out of many resources when buying. It has, therefore, become fashionable to state that the process is no longer linear. This is wrong.
Myth 8: I instinctively understand my customer. The biggest mistake any business leader or marketer can make is to think they innately understand their customer. With a vested interest in the outcome this is not the case.
Myth 9: Marketing can still rely on the traditional purchase funnel. The traditional cone shaped purchase funnel is a model which provides no effective meas-urements for building an audience, engaging with customers and prospects, and calculat-ing ROI in a digital world.
Myth 10: Creating content takes too much time and money. Content creation seems expensive and difficult for many businesses. However, with the right approach, it can be manageable and affordable.
Myth 11: Social Media is nothing more than some alternative channels to market. Businesses that see social media as merely a new mechanism with which to reach their audience will struggle in a world that has gone social.
Myth 12: Every business requires a ‘why’ or ‘higher purpose’. Simon Sinek’s why has had so much attention that now every business owner feels that their company has to have a ‘higher purpose’ in order to be successful. This isn’t quite the case.