Seven Marketing Myths that Devastate Business
What marketing myths have you “learned” or are you being fed? Marketing has its own dogma – outdated beliefs and mumble jumble all intended to protect self-declared marketing mandarins. Marketing should be helping you get your key messages out – so you can grow, sell more and win more business.
What should marketing do for you? Help you sell more. Period! Don’t get fooled by the self anointed marketing gurus who try to sell you blood letting marketing mythology.
Watch out for sacred marketing rules that only seem to protect the marketing mystic without helping you grow your business. Beware of the marketing bureaucrats who seem to be missing the point of marketing. Depending on what business you are in, marketing must help you sell – product, service, membership, investment, participation, and/or support.
You can get past the myths of marketing. You must get past the myths if you want to out-market your competition.
Where do you start busting marketing myths? Study these seven marketing myths. Understand them and grasp it as bane against those marketing zombies and business blood suckers.
Business killing marketing traps myths you must avoid.
1. The “talent” trap
The myth is that you should hire “talented” people.
The reality is that you should never rely on talent. It runs hot and cold. It subjects you to the whims of prima donnas. Instead – build your business by following systems.
2. The “build a better mousetrap” fallacy
The myth is that you should build a better mousetrap – then wait for the crowd to arrive.
This is an old myth. The reality is that you need to market. The difference between the financial failure of Van Gogh and the success of Picasso was marketing.
3. The “find a need and fill it” myth
The myth is that you should find a “need” and fill it.
This myth is still taught by many business schools. The reality is that people don’t buy what they need. They buy what they want. Your marketing challenge is to make your customers want what you sell or to sell what they want.
4. Myths about the media
Too many business owners believe that the media hates business.
That is not true. The media is a business. The media will help you if you help them. What they need is information and stories. Your marketing challenge is to convey your stories to the media in a way that they find interesting and worth repeating.
5. The myth about “how to be number one”
It is surprising that whenever I ask this question of business owners many answer, “Deliver the best product or service.”
The reality: To become number one, create your niche. Your marketing challenge is to find and claim your unique niche.
6. The fallacy about value
Value is not what your engineers create or your accountants can measure.
There are two elements to total value – real value and perceived value. Your marketing challenge is to maximize the value you deliver from both elements. Be very clear on the importance of perceived value to your clients and the growth of your business.
7. The “lucky break” myth
Stop hoping for the lucky break.
Success is never the result of the lucky break. I learned this lesson from the hundreds of entrepreneurs and CEOs that I have worked with and interviewed over the past decade.
The reality is that success results from following good systems. Even an imperfect system is better than none. This is especially true of your marketing.
The above might be the most dangerous marketing myths that you must be aware of, and prepared to avoid.
The Greek and Norse Myths make for wonderful fantasy. But if you base your marketing on myths – your business will soon be a forgotten fantasy.
© George Torok is the co-author of Secrets of Power Marketing. Get your free copy of “50 Power Marketing Ideas” at http://www.PowerMarketing.ca George Torok works with business owners to give them an unfair advantage over the competition. He helps you unlevel the playing field. Arrange for George Torok to work with you by calling 905-335-1997 or visit http://www.Torok.com