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Show Notes

As a business owner, it can be challenging to navigate the world of marketing. There are countless myths and misconceptions about what works and what doesn’t, leaving many entrepreneurs feeling confused and frustrated. But fear not! In this episode, I’m here to set the record straight. I’ll be breaking down the top marketing myths that may be holding you back, and sharing proven strategies for scaling your business. By the end of this session, you’ll be armed with the knowledge and confidence you need to take your marketing efforts to the next level and turn your business dreams into a reality. So don’t wait, join me now and let’s get started!

Want to Work with Jennifer and her Virtual Marketing Experts Team?

Are you a coach, consultant, or online course creator who are looking to grow your business, increase your income, and scale your impact? Connect with me at YourMarketingMatchmaker.com I look forward to hearing from you.

Jennifer:

Hey there, welcome back to Marketing Matchmaker, I love this topic that we’re gonna dive into today. I hope you are having a fantastic summer. It is. We’re just getting kicked off, I think in summer. And I’m still kind of amazed every time I look over and go, how the heck is it June already, that is kind of insane. That being said, one of the things that I have noticed a lot of in the past couple of months when I’m taught when I’ve been talking to audience members about their strategy is the number of marketing myths out there.

Now. You know, I love some marketing this. In fact, I love marketing this so much that every Monday we post about a new marketing myth on social media. So if you want to look at all the marketing this year, you can head over to my Instagram account Virtual Marketing Experts or Facebook or find me on LinkedIn, any of those places we share our top marketing this or that week.

This week, we’re going to touch on some marketing myths that I hit when I saw people coming into me with strategies. And it relates back to our last episode, which is all about the illusion of one size fits all strategies, and Guru marketing. Today is about debunking some top marketing myth. And I’m going to tell you right now, people actually believe a lot of these and they’re just not true.

So, as we know, marketing is an essential aspect of any business, sometimes its success can often determine the success or failure of your own company. However, with the rise of all of these marketing gurus and experts out there, there are certain myths that have been perpetuated, that can lead a lot of people off into the wrong track.

Myth number one is overnight success.

So what do I mean by that? Here’s the table. This is huge clickbait for most business owners. Realistically, this is how those gurus sell their product, at the very least, it’s how they get you to click on their ad, or to follow them on social it is the idea that there is a special formula that will guarantee you success, that will guarantee you to make a million dollars, or whatever that success means to you, in just a very short period of time, right?

It’s that one launch has made me a millionaire or that whole, you know, you’re just one, whatever away from really hitting those ultimate goals in your business. The fact of the matter is, is that some of these people do do that, like there is a ability for you to create overnight success. It’s like viral videos. Sometimes they hit and they go like wildfire. Other times, you might have put a very similar piece of content. And you get though whaa-whaa-whaaa of sharing, right? It’s just not feasible to say that every time you do some XYZ, you are going to get overnight success, it doesn’t happen.

Marketing takes time, it takes time to build an audience. Very rarely are you going from zero to 100,000 filers in a week or a month. It takes commitment. It takes consistency. It takes all of these pieces that’s going to help you in the long run, create a very successful business. But it’s not something that generally happens overnight. So that overnight success or that beating yourself depth down because you didn’t have overnight success.

Throw that out the window.

My friends understand that anything we do in life takes time. It takes commitment, and it takes consistency. And I don’t care if that’s dating your ideal client or just dating, or if it’s weight loss, or if it’s you’re growing your business or if it’s fill in the blank, whatever. If it’s important to you, it’s not generally going to happen overnight. And if it does happen overnight, the likelihood of it being sustainable long term is much lower than if you put in the work and do the steps that it takes to create a strong foundation that will take you further into the future.

Step two, set it and forget it.

This one hits the course industry. So how Are all of you business owners out there, I would say Course and Ecomm, which a lot of times are very similar in in their, their businesses, a lot of you coaches and consultants and out there that want to build a course because it’s going to be passive income. And you can just set it up and walk away.

It’s not true.

I don’t care who told you that it’s a lie.

Businesses take work to make a million dollars takes work, you can’t just throw something out there and then walk away from it. This suggestion is kind of like your marketing campaign or your funnel, you can set it up, and then you just sit back and watch the sales roll in.

Here’s the reality on that it constantly takes updating your content, putting yourself out there, driving sales, driving traffic to these funnels in order to make them work, which means you legitimately cannot just set it and forget it. Like if you’re running, let’s say Facebook ads to your business, you need to constantly be monitoring that in order to make sure there’s not some kind of craziness, which is work, you need to be updating the copy and the creatives and the videos and your social media content and your email sequences, you need to stay in front of your audience for all of those people who didn’t buy on the first round.

Because that my friend is the biggest mistake a lot of business owners make, they bring in all of these leads, and then they don’t do anything with them, set it and forget, it is just a fallacy. It does not work anyone who set up their business and walked away from it and just let it run, it may have been successful for a short period of time.

But there’s going to come a time when the well runs dry, and it stops being successful.

Take that out of your vocabulary. Understand that if you really want a successful business, if you really want to set yourself up in the future, you get to do the work on going in order to do that.

So our next myth is that this one really makes my job kind of hard as a digital marketing strategist. And it’s that instant ROI.

It’s that idea that I just need to hire a digital marketing strategist, and they’re going to do my ads, and I’m going to get a return on my investment within 30 days, or within 24 hours. Or going back to that, you know, guru who said they did one launch and they made a million dollars, through reality, there is no such thing is instant return on your investment.

Can you make a large return on your investment? Yes. Is it possible to do it quickly? Yes, we’ve had clients that, that has worked with, and the majority are not going to be instant return on their investment, the majority of them are going to take time it’s going to take tweaking, it’s going to take dialing in that messaging, and that targeting and the funnel, and really getting all of that dialed in. Before you’re getting those consistent sales in your business.

It’s possible, it absolutely possible to get a return on your investment when it comes to marketing. And in fact, if you don’t get a return on your investment, when it comes to marketing, it’s time to start looking at other strategies to help do that. But I’ll tell you right now, it’s not going to be instant. If you put $1 into, let’s say Facebook ads, you’re not going to immediately make $2. Now down the road, you might make $1,500 off of $1. I don’t know, I don’t know what your business is going to be.

But I will tell you that most business owners out there, they go to an agency who tells them that they will give them a return on their investment by x date. Sometimes it’s 30 days, sometimes it’s 90 days, sometimes it’s somewhere in between or a little longer. There’s no guarantee that you’re going to get a return on your investment.

We do our best to make sure that you make the sales that do give you your return on your investment. But if they’re telling you that they that you will get it by x date, they’re lying to you. Because there’s just no way to guarantee that there’s nothing instant about business and marketing. The likelihood is when you start your marketing efforts, it takes about 90 days before you even start to see any ROI on it much less completely. You know pay for everything that you’ve spent. That’s when you dig in. When you start to see that return on your investment. Then you dig in and you take that next step and you keep doing it until you get To the point where you are making a good ROI on your marketing investment, and I’ll guarantee you, my friends, it’s going to take you closer to six to 12 months than it will 30 to 90 days.

That’s just the truth.

So any business owner out there that’s going to a marketer, and they’re telling you that they will get you an ROI within X amount of time. Make sure it’s a realistic timeframe. If they’re telling you that, yes, within six months, we will definitely get you an ROI, they’re probably telling you the truth. If they’re telling you within 30 days, they’ll get you an ROI. Don’t believe them. I can guarantee you, they’re most likely not telling you the truth.

Now, that’s not to say they won’t do everything possible to do that. It’s just the likelihood of it happening is pretty low, make sure that you understand what it is that you’re able to invest when it comes to your business long term. So that you can take those next steps in your business, so that you’re not expecting an instant return on your investment in order to fund the rest of your business. If you’re at that point where you are so close to the bone that this has to work within 30 days, or you’re not going to have money to sustain your business, you may want to lead, you may need to step back and really look at your business itself and dig in to your numbers to understand why that is. Right.

Have you not made sales in the last six months? Is it because you don’t have leads, because if you’ve because you don’t have leads, then a digital marketer can absolutely help you get leads so that you can make sales. But if you are not making sales, you’re having sales calls, but you’re not making sales. There’s something going on with you internally that you need to step back and look at, look at marketing, especially hiring marketing agencies, or marketing coaches or consultants or anything in that vein that you’re going to make a significant investment in.

Looking at it from the perspective of can this money be invested in my business, without meaning to make it back within 30 days, if it can take that step, I encourage you to invest in you and your business. If it can’t take a breath and look at a coach that might be able to help you or a bookkeeper or a CPA that might be able to help you dig into your numbers, and understand where your finances are, and what you’re able to invest in your business.

Here’s the reality: if you want to grow your business, you should be investing 10 to 30% of your revenue back into your business for sales and marketing.

If you’re not doing that your business will never be able to grow. On the other side of that your profit margin should be at least 30%. If you don’t have a 30% profit margin, you’re not actually making a profit yet. Doesn’t mean that you can’t just means we get to step back and look at those numbers. Data, my friends, is your friend, these marketing myths that drives me the craziest for our clients and our potential clients. They can make your business succeed or fail depending on how you’re following them.

If you buy into these myths, I promise you that you will struggle. If you’re ready to grow your business, increase your revenue, and scale your impact. And you’re looking for some help, head over to your marketing matchmaker.com and sign up for a free strategy session.

Outro: Thank you for listening to the marketing matchmaker podcast.
If you enjoyed this episode, I would love to hear your feedback. Please head over to Apple iTunes and leave a review so we can hear from you. And if you are a coach, consultant or online course creator who are looking to grow your business, increase your income and scale your impact. And that put me at your marketing matchmaker.com I look forward to hearing from you.