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Anna breaks down 3 common marketing myths that most small business owners fall victim to at some point on the journey.

 

Anna-Jonak-Bioby Anna Jonak, Founder of The Elevatory.
My mission is simple - to ensure you have everything you ever need to achieve the success you dream of.

 

 

We see women every day falling into marketing traps that keeps them from growing their business. We all fall victim to them at some point in our business journey (yes, even us at The Elevatory!). Believing in these marketing myths only hinders your progress and keeps you staying safe and small, which isn’t what we want for you. So, if you recognise yourself thinking these three things about marketing, catch yourself and turn them around so you can bring your big business vision to life.
 
 

MYTH #1 – I’M ON SOCIAL MEDIA EVERY DAY, WHY ISN’T MY MARKETING WORKING?

Where do we start with this one? Firstly, placing all your time and effort into social media is not a marketing strategy. Social media is one of the biggest time sucks in our life as we get lured into posting and scrolling.

It’s also only small part of your overall marketing strategy. Did you know that it takes anywhere from six to 12 different touchpoints before someone will purchase from you? Whilst social media can form part of this strategy, you need other pieces of content to convert leads into buyers.

One key way to do this is through a carefully thought out sales funnel that connects with and nurtures your prospects. A sales funnel is a tool that helps to automate the customer buying cycle and encourage purchases without you physically needing to be available.

It starts at the very top with your lead magnet (also known as a freebie or opt-in) which your lead requests in exchange for their email address. Having their email address allows you to nurture them through content drivers such as blogs, podcasts, social media and email marketing.

The middle of your sales funnel is where you encourage a purchase with a low-cost item known as a ‘trip wire’. A purchase at this stage (backed by a good experience of course) will increase their propensity to purchase from you again.

At the bottom of the sales funnel is your core offer, which is your flagship product or service. This is where you are trying to encourage your leads to end up!

It’s important to nail one part of the sales funnel at a time as it involves experimenting, testing and learning along the way. The long-term strategy of a sales funnel is to encourage a constant stream of leads.

So, as you can see, social media is just one part of a bigger marketing strategy that needs to work together in order to be successful.

 

 Customer-Touchpoint-Strategy

 

MYTH #2 – SPENDING MONEY ON MARKETING IS A RISK AND A COST

Spending money can be scary when you’re first starting out and feel like you can’t justify the spend. This is a mindset issue that you need to change quickly!

When you have done your due diligence – created a business plan, researched, received feedback and tested your price points – then spending money on marketing isn’t a risk. It’s a necessity!.

Spending money on marketing is only risky when you don’t have a strategy in place. As an example, we’ve seen plenty of businesses wanting to spend money on Facebook Ads, but without a sales funnel in place, it becomes a costly and ineffective way to spend your money.

To help minimise your risk it’s also important to track what you are spending against the results you are seeing. Marketing is all about testing and tweaking, so without vital information such as click rates, best time of day to post on social media or even cost per lead, you will be flying blind and potentially spending money on marketing strategies that aren’t working for you.

Try to think about spending money on marketing as an investment, rather than a cost. This requires a distinct change of language and mindset. When you spend money on advertising, you’re increasing your return on investment. It’s not a cost to your business. As a benchmark you should be spending 10-12% of revenue on marketing activities.

 

MYTH #3 – I CAN DIY MY BRANDING

First impressions are everything in business. One of the most important ways to draw in sales is how you present yourself to the world in terms of your branding and your website. And yet, it’s the two things that young businesses are most likely to DIY!

Have a think about what brands you are drawn to. There is a level of professionalism, confidence and authority in a well thought out brand. It’s the same with websites. You’re going to write off any websites that don’t function as you expect, that are misaligned or not optimised for mobile.

DIY can save you money but can damage your brand reputation in the long run. You only have seconds to make an impression, so make the most of it!

 Brand-Guidelines-Example

 

IT’S OVER TO YOU

Do you ever find yourself thinking or complaining about any of these elements of marketing? By understanding these common marketing myths you’ll be able avoid some of the biggest mistakes small business owners make. Take our quiz designed to pull the honesty card on yourself and your business to see if there are some clear gaps or areas of improvement when it comes to your Marketing Strategy.

 

Where do you think you could improve? Let us know in the comments below.

 

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Website: www.theelevatory.com

Phone: 1300 634 230

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THE ELEVATORY®

The Elevatory® is a coaching & mentoring hub for women looking to significantly advance their business. Founded in 2016 The Elevatory's mission is clear - to deliver Women all the coaching, training & resources they need to ensure next level RESULTS in their small business.

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