Tuesday, August 22, 2006

Marketing Myths

What marketing myths have you “learned” or are you being fed? Marketing has its own dogma - outdated beliefs and mumble jumble all intended to protect self-declared marketing mandarins. Marketing should be helping you get your key messages out - so you can grow, sell more and win more of the time.

Watch out for marketing rules that only seem to protect the marketing mystic without helping you grow your business.

Beware of the marketing bureaucrats who seem to be missing the point of marketing. Depending on what business you are in, marketing must help you sell – product, service, membership, investment, participation, and/or support.

You can get past the myths of marketing. You must get past the myths if you want to out-market your competition.

Where do you start busting marketing myths?
Here is a good place to start.

Dangerous marketing traps and myths you must avoid:

The “talent” trap
The myth is that you should hire “talented” people.

The reality is that you should never rely on talent. It runs hot and cold. It subjects you to the whims of prima donnas. Instead – build on systems.

The “build a better mousetrap” fallacy
The myth is that you should build a better mousetrap – then wait for the crowd to arrive.

This is an old myth. The reality is that you need to market. The difference between the financial failure of Van Gogh and the success of Picasso was marketing.

The “find a need and fill it” myth
The myth is that you should find a “need” and fill it.

This myth is still taught by many business schools. The reality is that people don’t buy what they need. They buy what they want. How can you make your customers want what you sell?

Myths about the media
Too many business owners believe that the media hates business.

That is not true. The media is a business. The media will help you if you help them. What they need is information and stories. How can you best convey your stories to the media in a way that works for you?

The myth about “how to be number one”
It is surprising that whenever I ask this question of business owners many answer, “Deliver the best product or service.”

The reality: To become number one; create your niche. How can you find and declare a niche of your own?

The fallacy about value
Value is not what your engineers create or accountants measure.

There are two elements to value – real value and perceived value. How can you maximize the value you deliver from both elements? And why could it be disastrous to ignore the importance of perceived value?

The “lucky break” myth
Stop hoping for the lucky break.

Success is never about the lucky break. Torok learned this lesson well from the hundreds of entrepreneurs and CEOs that he interviewed over the past decade.

The reality is that success results from good systems that you follow. Even an imperfect system is better than none.

The above are just a few of the dangerous marketing myths that you must be aware of, and prepared to avoid.

George Torok has a way of destroying myths and getting to the truth. Work with George Torok to recognize, avoid and master these myths.

“The Greek and Norse Myths make for wonderful fantasy. But if you base your marketing on myths – your success will only be a fantasy.”
-George Torok

George Torok

Power Marketing

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