Business marketing - challenging the myths

Every small business owner knows that marketing is essential to their success. Yet which strategies should firms employ? For many SMEs direct mail is a cost effective way of reaching out to prospects, particularly for those in the business to business space. 

However, it can also be a source of great waste if the marketing and sales lists don't provide highly targeted leads. For many the challenge of building such a list can seem to daunting and expensive. But myths about the challenges and cost may be stopping you from embarking on your next great success in marketing.

Here are the top myths in the world of direct mail and business marketing.

5 business marketing myths

1. Marketing data is always out of date

 It's true that accessing marketing data from the wrong source can be a  costly mistake.  For marketing data to work it must be accurate and up to date. The D&B global database is refreshed 1.5 million times a day making it the most up to date database in the world. With more than 100  million marketable records the D&B database has the reach and depth you need.

2. Data companies just sell lists but never any real insight

 Unfortunately this is true of many data companies. For marketing data to  really be valuable it needs to help you do more than mail merge. It should  help you understand who your best customers are and how to find other businesses just like them. D&B's unique marketing database can help  you build customer profiles and develop marketing strategies that target  the right customers.

3. Marketing data without email addresses is a waste of money

The truth is that the use of emails in marketing campaigns targeting new customers is highly risky and generally ineffective. Risky because it  leaves you open to complaints about spam. Ineffective because the email addresses are very rarely personalised meaning you are paying money to  market to a general email address never seen by key decision-makers.

4. It's more cost effective to just target my existing customers rather than spending money on marketing lists

 Absolutely. It's always easier to sell more to an existing customer than winning new business. But which of your existing customers represent the  best opportunities and the safest risk? A marketing database that provides insight and not just lists can help you identify who your best customers are and focus your efforts on selling more to them.

5. I'm better off with a mass marketing campaign that draws lots of  attention

 The problem is that the attention you might get is for spending lots of money and attracting bad customers. The truth is that the best marketing campaigns are highly targeted based on extensive research of what a good customer looks like. This not only reduces costs but increases profit.

 

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