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COMMON MISCONCEPTIONS

The Truth Is Out There, You Just Need To Know It

Be Prepared To Change Direction, It Can Save Your Business

Marketing is what you make it. However, you need to actually respond to the market for it to be effective. Business owners tend to think that the sheer number of people out there is a guarantee to business success. This is a false hope.

This is half of all companies in Australia fail within 3 years. It is much easier to accept a convenient story than to find the actual truth and work with it for the benefit of your company.
Here we challenge some popular misconceptions:

Misconceptions

  1. You have no competition. You always have competition, directly or indirectly. People’s emotional relationship with money means your business needs to resonate more with them so they prioritise you over another expense.

  2. You know who your audience is. When you begin to explore the edges of your business you may find that audience is not who you first thought.

  3. Everyone is your market. You need to target a specific group to effectively market your business. Even Coca-Cola has a narrow market, but various groups engage with their brand because they want to associate with it.

  4. The market is always changing. The market evolves and changes but some cornerstone attributes and emotional touchpoints may stay the same for long periods of time. Use this knowledge to your advantage.

  5. I need more customers. Focus on maximising the value of your existing customers. By being all-inclusive and treating your existing customers like royalty you can maximise their value and increase your chances of referral.

  6. Your business is in demand. It is only in demand if it stays fresh, your messages stay fresh and you continually connect with your clients. As soon as you lose that, demand (or lack of it) can seriously hurt your business.

  7. Your business doesn’t need to market itself. If you don’t, then your competition can easily grab them and them to their list of satisfied clients. Inaction is the silent killer of business.

  8. You can do it all yourself. You can, you really are a web, marketing, search engine expert who understands the finer points of branding, imagery, colour strategy and copywriting. But why waste your own time working ‘in’ the business when you can work ‘on’ the business.

Don’t be at the mercy of the market. The market is your friend if you know how to communicate with it. Speak its language and it will respond.

Contact us now to find out how your business can communicate with your market.

 
 

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