When it comes down to business, there are always success secrets shared as well as tips and tricks. But it’s the myths that, in my opinion, need to be busted once and for all. Recently there was a great article focusing on the most common business myths, mostly focused on social media. The article focused on the typical way business owners regard their obligations and responsibilities toward their product or service. However, if you strip everything down, all the details, what you do/sell and how, a business is basically one thing: a value exchange between people. Keeping this idea in mind, I’ve summarized 5 business myths that may jeopardize your company’s success.
# 1 “We don’t sell products, we sell services”
Aren’t you in fact ALWAYS selling both? If you sell products, your customers will automatically judge you on the quality of the product as well as the customer service you offer. If you sell a service, they will judge you on your knowledge and the way your service works for them. So, you sell both. Granted when you are developing a strategy plan to bring your product or service to the public, the focus will be on one or the other. It’s when you make your first sale that both aspects (product and service) take effect.
# 2 “B2B businesses don’t need social media”
There’s no more erroneous assumption than to believe that a B2B doesn’t need social media. The key is which social media platforms work best for you. If you are sell a service, then you are better off building a network through a platform like LinkedIn. Participating in group discussions, posting relevant industry updates as well as business updates is important. Having a company page that links to your personal profile is necessary as well. If you sell products, the world is a bigger oyster of social media platforms and it becomes a matter of demographics. If you’re target audience is teenagers, then Instagram is an excellent platform, where is if your target is women who are ages 30+ then Pinterest should be a strong consideration. Either way, you need to be able to reach your audience and there is no better way than social media.
# 3 “Don’t have time for social media”
Who really has time for social media? I’ll tell you who does, the experts in Social Media. I’m not sure when it will become apparent to business owners that social media should be part of an overall marketing strategy, should be allotted a realistic budget with expectations and, most importantly, should be farmed out to someone who knows what their doing. As the business owner, of course you don’t have time for social media. Hire someone to create a social media strategy plan with a calendar so you know what’s happening, but allow them to do their job while you do yours.
# 4 “It’s a different industry”
This myth doesn’t deserve a lot of time devoted to it. If you think “your” business is so different from everyone else’s out there, then I hope you’re making tons of sales and building loyal customers and wish you all the best.
# 5 “Well, my Boss…”
If your boss doesn’t allow you to start a social marketing campaign or thinks it’s not worthy of the time, then there’s a good chance you did not present all the facts to her. I’m the first person to say, that like marketing in general, social media has a gray line because it’s challenging to prove a specific ROI, BUT it definitely can be done. Do your due diligence and if you don’t feel you’re capable, suggest to your boss to have an expert come in and provide more detailed information. Like it or not, social media is here to stay. It’s whether you choose to participate in the game or be a spectator.