These 8 Marketing Myths Will Hurt Your Business – Dispel Them Now

Business owners of all types, with businesses of all sizes, will often harbor at least a couple of myths when it comes to marketing their business. The brick-and-mortar marketing experts at Zenreach want to help dispel some of the most common myths, especially those associated with businesses that have physical storefronts and rely on foot traffic to thrive.

Here are the top 3 marketing myths you need to eliminate now, according to Zenreach:

Myth #1 – More money is spent online than in-store
This is a common misconception with the rise and proliferation of e-commerce and direct-to-consumer marketing companies, but data shows that 4 out of every 5 dollars are still spent in brick-and-mortar storefronts, not online. That means the majority of customers still enjoy and prefer a tactile, in-person shopping experience.

There’s more data that proves this point. Customers have been shown to spend more when shopping in-person compared to online. One study found that more than 70% of in-store customers spend over $50, and more than a third spend over $100. Only 54% of online shoppers spend over $50, and a mere 21% spend more than $100.

Myth #2 – Impulse buying happens both online and in-store
Consumers love adding last-minute, unplanned items to their shopping carts when they shop in-store, but there is no data to support that they do the same online. 11% more men and 12% more women said they were more likely to make spontaneous additions to their shopping carts when inside of a physical store.

If you have products that cater to impulse buying, having a physical storefront is a must.

Myth #3 – Online Advertising doesn’t work for brick-and-mortar businesses
While this may be a common myth, where do I even start on this one! Not only does it work, but there are simple, affordable ways to prove it. Consider leveraging a marketing platform like Zenreach that allows you to measure the number of Walk-Throughs (customers who enter your physical store after being exposed to your marketing) to measure return on ad spend. In some cases, we’ve seen as much as a 180% increase in Walk-Through rate when running advertising on paid social in conjunction with other marketing efforts (email, etc.).

Myth #4 – Minimum ad-spend is too high for my business
While many agencies have exorbitant monthly minimums in terms of ad spend, you don’t have to break the bank to have a successful online ad strategy. With as little as $1500 per month, you can run successful and effective campaigns on paid social or programmatic display that result in real business results.