13 Common Misconceptions About Marketing Plans

Misconceptions about Marketing Plans

Most companies have a love or hate relationship with marketing. It seems to be either a confusing and burdensome expense or a well-oiled, profit-boosting machine. But to get your marketing strategy well-oiled and performing consistently, you need a plan.

Marketing plans can seem like an annoyance, but they\’re simply a tool with immense benefits. Here are thirteen common myths about marketing plans (and why they\’re wrong):

1. My company is too small to need a marketing plan. Marketing is critical for growth.

2. I can\’t afford a marketing budget. There are several free ways to market, including email and social media campaigns.

3. Marketing is an expense. Marketing done right generates revenue.

4. I already have a large customer base. Your competitors are always trying to poach your customers and new competitors spring up all the time.

5. My customers know where to find me. Businesses need customers in all three stages of the buyer\’s journey (Awareness, Consideration, and Decision) to be sustainable.

6. Other companies in my industry don\’t use marketing plans. Following the pack won\’t give you a competitive edge, but being an early adaptor will.

7. Content marketing is just a fad. More companies are turning to content marketing every day and seeing higher levels of engagement than traditional ads.

8. My company does just fine with word of mouth. Word of mouth is effective, but having no digital marketing plan means you\’re missing out on an enormous potential customer base.

9. Social media isn\’t effective for business. Businesses that use social media have higher engagement, brand recognition, and are seen as up-to-date with today\’s digital world.

10. People don\’t read email anymore. Email inboxes often equal clutter, but email marketing – where the customer willingly opts in – can easily turn leads into customers.

11. A website with good SEO is enough. The Internet is over-saturated with information, so you can\’t expect potential leads to just stumble across your website, even if your SEO ranking is high.

12. I can\’t measure the ROI on marketing efforts. A good marketing plan includes ways to track your progress or analytics. Both agencies and software exist to help you calculate ROI.

13. Creating a marketing plan is too difficult. That\’s why marketing agencies exist – to help you develop a practical plan and start figuring out the best marketing strategies for your company.

Don\’t keep putting off your marketing plan. Marketing can be the difference between a thriving business and a failing one. For help getting started on your marketing plan, connect with one of our professionals at Creative Bytes Design today.

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