The little secret in the marketing world is that even the best-known, most highly regarded businesses can be sitting on a marketing time bomb. They may look great from the outside but problems are lurking under the hood. So here are three marketing fallacies that successful healthcare vendors fall prey to.
Fallacy #1: We’re making money so everything is all right
This is a real common fallacy. The basic idea is that your bottom line is the best and only gauge of success. Therefore, if you are in the black, then your marketing is working.
In reality, though, there are a lot of factors that can come together to bring in money – even if your marketing is in shambles. For instance, a good economy will float all boats. If your founder has exceptional connections, that will also bring in money no matter your marketing.
The problem sets in, of course, when the economy takes a downturn. Or when your founder retires. That’s when you see the holes in your lead generation strategy and the problems with your brand.
Fallacy #2: We’ve been in business for ages so we must know what we’re doing
This fallacy is one I believed wholeheartedly when I started my marketing career. Then I got to see what was behind the curtain.
Even well-funded companies with ultra-experienced leaders can make a mess of their marketing. In fact, the longer they’ve been in business, the worse that mess can be. Businesses that have been around pre-internet can have dreadful legacy systems that are clunky, outdated, and ineffective. Even those who began in the 21st century may not have upgraded from whatever platform they signed on to a decade ago.
Each year, new platforms come on the scene that easily do what the old versions struggled with, often at a fraction of the cost. And by sticking with old technology, teams find themselves mired in inefficient processes to make up for what the old technology cannot do.
Fallacy #3: Our young team is on top of all the latest marketing trends so we are just fine
The fallacy of youth as a panacea is a real common one. Basically, it assumes that young people know the latest social media and trendiest apps, so they will keep you cutting edge.
The reality, of course, is a little different. For one thing, using social media and apps personally is very different from using them as a business. That can be a steep learning curve for some teams.
Another problem comes from how quickly trends change. If your team’s expertise lies with specific channels and not with marketing as a whole, you can find yourself in big trouble when that channel falls out of favor. Even worse, your teams can unintentionally become very siloed since each person is really only expert at a specific channel.
Give yourself a marketing reality check
These fallacies persist because it is so comforting to believe them. But for the sake of your business, it’s best to give yourself a reality check. Conduct a marketing audit and be sure you aren’t falling victim to these common marketing fallacies.
Photo by Kenny Eliason on Unsplash.