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6 Marketing Misconceptions That Cost Advertisers Money

| February 06, 2018

Marketing assumptions and misconceptions can be very costly—not just in terms of money wasted on the wrong channels, but in potential lost touchpoints and opportunities for conversions.

No one likes to admit when they’ve made an assumption. But the truth is, many marketers and business owners make decisions about the tactics they use (or don’t use) based on just that. Marketing assumptions and misconceptions can be very costly—not just in terms of money wasted on the wrong channels, but in potential lost touchpoints and opportunities for conversions.

This post breaks down the most common marketing misconceptions that we see today.

6 Marketing Misconceptions to Avoid

1) No one watches TV commercials anymore.

This misconception is growing alongside the popularity of streaming video content. Millions of U.S. adults are “cutting the cord,” canceling their premium cable and satellite TV subscriptions in favor of OTT as their primary signal, and the population of “cord nevers” is growing, too. This shift in media viewing habits is dramatic, but that doesn’t mean no one sees TV commercials. It means smart advertisers are reconstructing their marketing budgets to better take advantage of OTT advertising opportunities.

2) Only kids and millennials use social media.

It’s an unfair but common stereotype that older generations aren’t up on the latest trends, especially with technology. In reality, many older adults are on social media—just not on the same platforms as younger generations. Instagram and Twitter users are primarily younger, but at the same time, Facebook is used by 72% of people 50-64. Discounting social mediabecause your audience is older is a mistake, and you’re missing important opportunities to target, reach, and connect with them.

3) I only need to invest in digital today.

Some might say traditional media is dead, but from awareness through the purchasing stage, television remains the most important influencer in all stages of the buyer’s journey and for all age demographics, including Millennials. 46% of American consumers cite traditional TV as having the strongest influence on their decision to purchase a product or service. With more options for advertisers than ever before, broadcast televisioncontinues to be a proven marketing platform for businesses and brands seeking to reach their target audiences and influence consumer behavior.

4) You can’t track TV advertising.

The idea here is that because there’s no direct link between a traditional TV ad and the customer’s actual conversion or purchase (the way there is with many digital marketing tactics), you cannot reliably attribute results to an ad or campaign. Attribution can be difficult, but that doesn’t mean it’s impossible. For one thing, with OTT, there are two ways to ensure an impression ran—through a third-party tracking tag, or an OTT provider’sDMP platform that can monitor the impression delivery and provide other reporting metrics. You can get a better look at the impact of your cable and broadcast TV advertising by integrating it with your digital efforts. For instance, create specialized landing pages that aren’t indexed by search engines and include their URLs in the TV ad. Observe website traffic before, during, and after your campaign airs, alongside foot traffic and sales. Even if they don’t take immediate action on your ad, the customer’s path to purchase is non-linear, so the influence of that ad may go to work later.

5) My website loads on a smartphone, so it’s mobile friendly.

Unfortunately, accessibility does not equate mobile friendliness. Mobile friendliness is actually a search engine ranking signal that takes very specific attributes of your site into account. This includes how fast it takes your page to load, the size and format of video and image files, text font size, and how easy it is to scroll the page using your thumb. Failing to pass means your site will be down-ranked in results for mobile devices. What’s more, Google is looking toward a mostly-mobile future, and will adjust the impact of this ranking signal accordingly. Take advantage of Google’s testing tool to ensure your business site is mobile friendly. Redesigning your site to have responsive design doesn’t have to be isn’t complicated, especially if you hire a professional.

6) I have a steady client base and don’t need to invest in marketing.

This is a rookie marketing mistake that we’ve talked about before, especially with regard to small businesses. Your customer base might be a good shape now, but failing to invest in marketing can harm your company’s long-term growth and limit your potential success. Even if you rely heavily on local customers, exploring marketing options like search advertising will allow you to stay top of mind and find new customers.

There are more marketing misconceptions where those came from, but that concludes the top ones we’re determined to end in 2018. Got questions about your marketing? Ready to make some changes? We’re here to help.

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