10 Biggest marketing myths
There are tons of myths and false information in the world.
How many times you have heard that goldfishes have a three-second memory span, or that
A myth sometimes starts out as an incorrect assumption, and it never gets corrected (like rabbits and their love for carrots). Other times the myth turns out to be entirely made up by someone (like Napoleon and his very short stature).
Many myths were also deliberately created for personal gain.
Marketing has a lot of such myths too – and it’s easier than ever to fall for them today with the availability of the internet.
10 most often found and heard marketing myths
The bigger your email list, the better!
More email addresses = more emails = more sales? Quite the opposite! Sending emails to random people using the “spray and pray” tactic is more likely to put you on the blacklist, rather than bringing more sales.
Besides, what’s the point in sending emails to people who won’t respond to your campaigns?
The reasons vary. Your customers changed their email address, the email address you have is no longer the main address of your customer, customers picked another company instead of yours.
That’s why it’s crucial to regularly clean your email list out of inactive or uninterested customers addresses. This will help you to stay away from spam folders, improve your CTR rate and have a more significant chance for a sale.
What is more, sending marketing emails cost real money.
If you are sending hundreds of thousands of emails to people who are not even interested in your company and won’t respond to your newsletter. You’re wasting money, and that’s one of the major sins in business.
Automation tools will do all the work for you!
One of the most often saw myths. Marketing automation systems are powerful tools and can help your business a great deal – according to EmailMonday, 51% of companies are already using Marketing automation tools and 58% plan to use it in the future.
The benefits of marketing automation system are numerous (just to name a few, they help with generating more and better quality leads, makes a company work faster and more efficiently and resolve understaffing issues) but you must have in mind those are just tools after all.
There must be a knowledgeable person who will add the data into the system, configure the system and keep an eye on possible errors. All it takes is one second of delay or unexpected mistake, and your whole campaign might go awry!
Also, automation tools are made to execute processes, not invent them. Not even the most powerful and expensive system will create a foolproof strategy for you, close marketing deals or fix your company internal issues.
If you re looking for a tool that will help you with reducing workload, keeping your data in order. Getting an automation system is a great idea, but if you think marketing automation means 100% guaranteed campaign success, you are only in for a huge disappointment.
Don’t bother with email marketing; it’s long dead
Typing “email marketing is dead” into google search gives you around 133 000 000 results.
A great number of people say that you should forget about email marketing and focus on social media instead.
They can’t be more wrong.
Email marketing was, is and will be the basis of any good business and for a number of reasons. It’s fast, allows for customising the message for different groups of customers, it’s non-intrusive (certainly less than cold calls) and everyone now has an email account. In addition, it’s also one of the most cost-effective methods out there!
What is more, according to several researches, email is the third most influential source of information for B2B audience (with only colleague recommendations and industry-specific leaders opinion!). 59% of B2B marketers say email is their most effective channel when it comes to generating revenue.
So if you need an efficient way to generate leads, have more sales, keep your customers informed about your brand, email marketing is the way to go!
“If the stats are so good, then why so many people say email marketing is no longer working?”, you probably want to ask now.
I suspect the reason is that due to the mistakes they made, they don’t get expected results from email marketing campaigns and instead of analyzing their strategy and fixing their errors, they abandon email marketing completely.
Sometimes even a small tweak (such as changing the placement of a CTA button) can make a massive difference to the email campaign results, that’s why it’s crucial to test your email marketing campaigns.
“I don’t need to optimise my website for mobile users, no one is going to visit me from a mobile device.”
Are you sure of that? Since the number of people checking their emails or browsing social media on their phone is continually growing (46% of all emails opened are opened on a mobile phone!), neglecting those people is a terrible idea!
First, 57% of all US online traffic now comes from smartphones and tablets (according to BrightEdge). Also. 89% of people are likely to recommend a brand after a positive brand experience on Mobile while 52% of customers are less likely to engage with a company because of poor mobile website experience.
You might now think “But why can’t those people visit my regular website?”. One of the reasons is that people have much less time to find the information they need while using a mobile device – they’re standing in line at the store, sitting next to the doctor’s cabinet, or waiting for their food to be served. They just don’t have time to browse through your entire website.
No matter how much work you’ve put in your regular website, chances are it does not look well on a small screen of a portable device – the visitors have to zoom the content or swipe across the screen to read the text, they can’t find the information they look for, can’t log on into their account or maybe the page doesn’t even load.
If the customer can’t find the information they need on a mobile, he/she will abandon the page and look for one that gives them the information they need faster.
Marketing automation is only for large businesses; my company surely can’t afford it
In the earlier years when the marketing automation wasn’t yet as widespread, the license fee was indeed very high and only big and mighty businesses could afford it.
But that’s a thing of the past – there are so many marketing automation tools in the market right now, every company should be able to find the one system that is perfect for them.
The price range is pretty broad too – you can find systems that cost a couple of dollars a month, that cost hundreds a month and those that cost a few thousand a months.
Systems for startups or small companies are obviously cheaper than enterprise level systems, and systems with hundreds of features are definitely more expensive than those that have only a dozen.
Another thing is that if you buy a robust system but don’t use it to its full potential (because you only use it as an email tool, for example), of course it will be seen as expensive. But if it is used wisely, you can get the money you spend on the marketing automation system back several times!
Marketing automation won’t only save you time and reduce your workload but also can save you a good deal of money (for example by showing you that your recently started ad campaign don’t give you any profit and you should stop it to not waste any more of your budget).
“I don’t need to bother with customer retention, I can always generate new ones”
Generating new customers while not bothering with customers retention is like filling a bucket with water, only that the bucket has holes at the bottom.
You can fill it to the brim, but water starts leaking out immediately after. No matter how many times you fill the bucket, it gets empty. Wouldn’t it be better to fix the bucket rather than filling it over and over again?
It’s precisely the same thing with customers retention – you might have earned ten new customers but what’s the point if you lost six at the same time?
If you didn’t think about this earlier, you aren’t alone – according to Annex Cloud research, less than a third of business executives consider customer retention their priority and 57% of marketers who started a loyalty program weren’t entirely sure it is needed.
What is more, according to Marketing Metrics, if a customer already bought something from your company, there is at least a 60% chance that the customer will make at least one more purchase. But the possibility of a new visitor becoming a paying customer is only around 20%!
That’s why building a relationship with your existing customers should be your priority!
There’s plenty of ways how can you start: by asking your customers about their pain points or suggestions to improve your service/product, by giving a small gift for recommending your service to others or by building a community where customers can ask questions and report issues.
Giving your long-time customers a VIP service is a great idea too – if your customers feel appreciated, they’ll stay with you for longer!
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Every lead is a good lead, and each should be treated in the same way
“One size fits all” strategy, working so well in the past, should go to the trash bin.
There’s a massive difference between a customer that is using your services for months, the one who stopped using your tool after the free trial ended and the one who just subscribed to you.
They have different needs, different experience with your brand and different expectations.
There is also a difference between a lead that is ready to buy with just a little push, the one that needs a little more convincing and the one that found your website by mistake.
But how can you distinguish one from another?
By lead scoring!
Lead scoring is estimating how likely is the lead to use your service or product and prioritising the leads based on the results. Basically, leads can be divided into three categories:
- The ones with the highest score. Those are the closest to purchase/most loyal customers. They are also the most engaged ones and most interested in your offer. Those are your “hot” leads and should be your priority.
- The ones with a lower score. People who are interested in your offer but need more convincing, those are “warm” leads. It’s a good idea to send them for further email nurturing.
- The ones with the lowest score. First, try to check are they still even interested in your company, for example by asking for feedback. If you get no reply (or this person unsubscribes from your emails), forget about them. Those are so-called “cold” leads.
After scoring your leads, it’s time for segmenting your leads into different groups.
Segmenting your users can help you with giving them a tailored service. Assistance messages for the newest subscribers, appreciation for your long-time customers and “We miss you” messages for those who suddenly stopped using your services.
The best day to send your email is on a Tuesday
There are dozens of surveys, researches and stats on which day is the best one for sending marketing emails. However, the results are still fairly inconclusive. One study says that you shouldn’t send emails at Fridays because people are busy and are likely to miss it.
The other one says that you definitely should send emails at Fridays because people are in a better mood then.
Yet another survey says Thursday is undoubtedly the most popular day to send emails. And another says you definitely shouldn’t send emails at Thursday because everyone sends their bulk emails on Thursday and yours might not be noticed.
There’s only one way to learn what is the best time to send YOUR emails to YOUR customers.
Send your email to customers at a different time and then analyze the results: on which day your emails get opened most often? When you get the lowest number of responses?
Of course, it will take time and effort, but the results will be important for you and your company.
A bought email list is as good as created one
Looking at G
Unfortunately, it’s incredibly risky move right now.
Bought email lists already had plenty of drawbacks earlier on but with the GDPR active, using a pre-made email list might make you end up in the dead end rather than on a straight way to marketing success.
Remember that with GDPR active, marketers will be allowed to send emails only to people who’ve given marketing consent.
Now think about people on the pre-made lists – they have never heard about your company and never agreed to be your customers so they won’t buy anything from you. No matter how many emails you send to them, they won’t respond.
That’s assuming those emails belong to existing and active customers – they might as well belong to people who changed their email addresses a long time ago.
Or those that don’t fit your buyer persona.
Or worse, customers that don’t even exist – because how can you be sure those emails do exist?
Another problem is that while using a pre-made list, your marketing effects will be very poor. In the best case, your emails end in the spam folder and you “just” lose time and money. But in the worst, your company domain might be blacklisted by email service providers – and then no one will get your emails.
Building your own email list is a much better idea.
With a marketing automation system and few strategies prepared, you can compile your own email list, with people who are interested in your product and might in the future buy from you.
Yes, it will take time, effort and patience but your email marketing effects will be much better than if you decide to just buy an email list.
If something worked for one company, it will work for me too!
Many, many companies fell into the trap known as “It worked for other companies”.
Since many business owners think they don’t have time or people to do find out what will make them successful, they decide to copy ideas from others and try to show them as their own.
In most cases, copying other companies strategies ends up in a failure. And it shouldn’t be surprising. You are a different company, with a different product, and goals, you need a different approach.
Copying your competitors (quite often as clueless as you!) blindly will only end in a marketing disaster for you. Even if you can see their newest marketing campaign is a hit, do you know WHY exactly it is a hit?
The only real way to find out what works best for your company and your customers are continuously testing your marketing strategies. Sorry, no working shortcut here, unfortunately.