If you’re a business owner, you’re probably inundated by advertising information on a daily basis—some accurate, some not so accurate. This month I’d like to help you weed through and dispel some popular myths.
MYTH: All I need to grow my business is word of mouth.
TRUTH: If your business is growing because people are talking, you’re doing something right. But if they hear about you, then can’t FIND you, you’re going to lose credibility and business. Let the word direct them to your website or contact information, and they’ll quickly find you.
MYTH: I’m a small business so I don’t need a website.
TRUTH: Research has shown that at least four out of 10 individuals visit a business’s website before contacting them. A website generates awareness, improves your competitive advantage and allows for the possibility to do business or communications online.
MYTH: I can’t afford to advertise.
TRUTH: You can’t afford not to advertise. Effective advertising can be achieved with nearly any sized budget; however, that degree of effectiveness will be determined by your willingness to see your marketing funds as an investment rather than an expenditure.
MYTH: You can’t measure advertising results.
TRUTH: There are many ways to quantify your advertising efforts depending on the medium you use. Advertising needs to be considered a “big picture” effort, since the money you spend and the materials you produce are for long-term goals. Recent marketing efforts for a private school client of ours resulted in a 46 percent increase in open house attendance, which translates into a higher enrollment and more revenue.
MYTH: Internet marketing is expensive and not necessary for a local company.
TRUTH: Presently, over 25 percent of all Internet search activity is locally based, with local searches expected to exceed 30 billion by 2009. Marketing on the Internet can also be very cost-effective if your online ads are properly placed and well designed.
MYTH: We don’t need a logo.
TRUTH: What comes to mind when you think of Nike? How about Pepsi? Whether you’re a national company or a local business, your logo is your identity. A well-made logo is quick recognition for those who see your ads, invoices and correspondence. A logo is a one-time expense that pays for itself by serving as the “signature” for your business each and every day.
For greater business success, seek out a trusted and experienced marketing professional, who can give you advice based on your business and tailor your plan to meet your advertising and marketing needs and goals. TPW