Marketing is a vast ocean surrounded by different businesses. Be it a small business or an online one; marketing has got its status in this sphere. It is a definite way to boost your company’s sales as well as revenue. But, as technology advanced in recent years, the digital marketing gained more value than other strategies. This growth gave birth to the most welcomed online business by the youth.
We can find a large number of people using the internet than the other mode of communication. It was only 1% of the world population in 1995. But the previous year’s report showed that 3.58 billion people worldwide use internet on a daily basis. They use it not only for interacting with friends, but also for other purposes such as discussion, research, play games, shopping, job hunting, and many more. In short, the internet has made everyone’s life much more comfortable than before.
Since it does not involve any physical space, a large number of employees, or other maintenance costs, it is considered profitable when compared to other businesses. This mode opened the door for diversified business with new paradigms. It created more opportunities for entrepreneurs to build their empire online. Though it has got many advantages, the marketing of the online venture is a rigorous task like every other model.
The marketers have to deal with various aspects while promoting their online stores or services. Besides, they also have to face few misconceptions revolving around online space. This article concentrates on few such myths which make the job of a marketer still harder.
Myth #1: Marketing Is Expensive
Yes, this myth might be true to some extent. But, it all depends on how you manage to market your product or service. There are various marketing strategies to follow, but you must be wise enough to pick the one that best suits your business. If you invest too much in marketing, you should stop right there. Spend some time to rethink your strategy.
You can promote your business by yourself instead of taking the help of any PR professionals, or expensive marketing tools. You can conduct events, get press coverages, or use social media platforms to brand your product. Start small and see how marketing helps you to create a loyal customer base.
Myth #2: Low Price Matters
While selling any product or services online, one has to deal with various issues. Not just the base cost of the product, but it also involves shipping costs, easy returns, warranties and many more. So, to provide the service at the lowest price is a challenging task for every online business owners. Hence, do not focus on this myth, instead focus on delivering the quality product at competitive price.
Though customers love to see the lowest price tag on their favorite products, they also give more importance to its quality. Therefore, try to offer excellent products at a fair price and sweeten the deal. After all, every businessperson wishes to see profits at the end of the day.
Myth #3: Skip Mobile Options
Don’t ever do this or overlook this option. It is a common misconception that most of the users use their mobile internet to browse the websites. In some cases, it may sound true. But, that does not imply that everyone will do the same. If you research on mobile internet usage data, you may rethink your approach.
Various statistical reports stated that the number of mobile internet users had increased tremendously over the years. According to Statista, internet users via mobile phones spent 33 percent of their time online in North America. Whereas, in the Asia Pacific, it accounted for 48 percent. And, it keeps increasing every year as technology is evolving at a breakneck speed. So, do not ignore the mobile platform because it may turn out to be the best option in coming days.
Myth #4: Promote Alone
Don’t buy this myth if you have made your mind to dive into the vast ocean of online business. To be an entrepreneur, you need to help yourself to come out of the shell and take the risk in the competitive world. But, to promote your product or services, you can take external help anytime. There are various ways to endorse your product online. You can make use of word-of-mouth marketing, cross-promotion or other strategies such as influencer marketing in your business.
You can take the help of any social media influencer to promote your product or encourage your regular customers to speak about their favorite product with friends and family. This way you can gain new customers on the go.
Myth #5: Tools Will Help You
Some people think that having enough tool in hand will make their business successful. But, it is not true in every case. Tools may assist you and save your time in your task, but they won’t do business for you. You need to understand the sales funnel by yourself. Later you can think of integrating some technology or apps that help your business.
Therefore, you must draw a well-structured strategy for your online market beforehand. For example, try to understand your customers, their buying patterns, focus on sales conversions and other aspects. Once you recognize it, you can invest in marketing tools or apps to guide your path.
Myth #6: Make Money Quickly
One can spend his money quickly on shopping, but to make money through this business, they have to work pretty hard. Some may fool you by stating that they made six figures in few months of starting an online store. But, do not get caught up in this false tales. To be a successful entrepreneur, it takes years of hard work and determination.
You can take any successful people for that matter; you will always see how hard they strived to reach this point. Be smart and plan strategically to boost your company’s revenue. Do not panic if you are unable to make money quickly. It is all a myth.
Myth #7: Less Work And More Benefit
Since online business does not involve any material space or nine-to-five work pattern, people think they can spend most of their time having fun with friends and family. But, it is wrong in every dimension. Internet never sleeps, neither your business. Your online presence is more critical for your business to run smoothly.
New businesses keep emerging in a fast phase, so you need to try different tactics to stay ahead in the competition. Having an online venture does not mean you can relax and still reap benefit from it. You need to toil hard if you wish to mark your brand at the top.
Conclusion
The list keeps growing. Give no ears to such misconceptions. If you take them seriously, you may miss lots of opportunities and also lose your business. Do not push yourself too hard to deal with every problem on one shot. Give yourself some time, take a deep breath, start small, and on the way, you will understand how marketing works well for your online business.
The truth is that, like every other business, your online venture will also require time as well as discipline. However, you should not forget the positive aspects of this mode of operation. You can reach millions of people in few seconds and grow your business with less investment. So, if you have a goal of being an online entrepreneur, go with it. You may fail at some point, but do not end the journey in between.
Do not immerse yourself in the above tales which hinders your growth. Take the risk and be wise.