Everyday, business professionals all over the globe buy into myths about how to market and build their brand. Here are some of the most common.
Myth 1: Offering a consistent and great product will produce a successful business.
Unfortunately, a great product doesn’t equal success. However, you can improve your chances of success by launching a beta test for your service or product on a social networking site. Create a survey for readers to give feedback on, and then use this information to shape the product/service in the best way to succeed.
Myth 2: The more you spend on advertising, the more profitable you will become.
Your mom gave you good advice when you were little… you shouldn’t do something just because everyone else does it. This also applies in business decisions about advertising. Advertising doesn’t give you the necessary credibility to build your brand. Using the media does. Show your customers you are a brand worth sticking with by offering valuable tips related to current events through the internet, broadcasting outlets, and through print.
Myth 3: Word-of-mouth and referrals will make you a successful, profitable business. Now-a-days, with such a wide range of options and types of customers, word-of-mouth isn’t going to make the cut. Sure, it is an excellent way to increase your business over the years, but for immediate results, a blog may be a better alternative. Blogs are free and easy. They also engage customers, and touch on brand loyalty.
Myth 4: You need to possess a wide range of skills to become a successful entrepreneur and brand.
Yes, other skills are important, but daily marketing is the one skill you should cling to. To keep your business moving forward, you need to constantly be improving. Whether you are writing a new blog, making a business call, or sending an email to an old colleague, you should commit to doing something new every day. If you do that, you will find success!