Marketing is a broad sphere and a key element behind the success of every business. Still, there are some prevailing myths that the word ‘marketing’ still encompasses in the industry. So, much so that professionals in the same business use the word marketing and sales interchangeably sometimes. To debunk such myths, this article explores the top 5 myths that are overtaken by every industry at some point or the other. 

Myth 1: If the Product or Service is Good Enough, I Don’t Need to Market it — It Will Sell Itself. 

If that is the case, brands with established names like Apple, Starbucks, and Zara don’t need to launch any new marketing campaigns. 

Until people know about your brand, they are never going to pick it in place of some older brand that has a renowned name and existence in the market. According to a recent report, the top way Gen Z typically finds out about new products is through ads on social media (28% say this) followed by search engines (27%), and ads seen on TV (27%). So, if you are not marketing your product well, it is hard that it may crack the success gateways. 

Myth 2: Good Marketing will Give you Immediate Results

Most businesses think that if they are not getting immediate results out of their marketing efforts, there must be something wrong. In some cases, there might be but it’s not true in all cases. 

Organic techniques like SEO (Search Engine Optimization) also take a lot of clicks and redirection to lead the customer to the right page and right time to convert them as a customer. So, patience and consistency are the key. 

Myth 3: Marketing is About Selling

Ah! It isn’t. Marketing is about lead generation that can lead to conversation – Sales, but in a broader picture, marketing focuses on more brand awareness, visibility and instigates excitement in your target market about your product or solution. According to Statista, in 2019, companies in the U.S. spent $2.6 billion on digital lead-generation advertising spending and lead generation is not possible without marketing. 

Myth 4: Traditional Marketing is Dead

It’s not! With the evolving times, everyone has shifted their channel of marketing to digital but traditional marketing like print ads, TV commercials, or direct mail still does wonders in terms of targeting a larger customer base. 

In terms of performance analysis of your campaigns, digital marketing is much more appropriate to measure the real-time performance of campaigns and there is also a scope for adjusting the strategy. 

Myth 5: Marketing is Only to Acquire New Customers

Acquiring new customers is one of the goals but customer retention is another goal that is achieved through marketing. The cost of acquiring new customers vs retaining previous ones is 5 times more. Increasing customer retention by 5% can increase revenue by 25-95%. The probability of selling to existing customers and new customers is 60-70% and 5-20%.

Marketing plays a vital role in the business landscape as it enables enterprises to communicate their offerings effectively, enhance brand visibility, boost sales, and cultivate customer loyalty. By articulating unique selling points, fostering consumer trust, and ensuring satisfaction, marketing facilitates sustained business growth and success.

According to a recent survey by LinkedIn, women now constitute a commanding 60% of the workforce in the marketing sector and this underscores a revealing surge in the number of women active within the marketing industry. 

Vaishali B Shivshankar, Head of Marketing for India & SAARC at F5, is one such leader in the marketing ecosystem as she excels in devising marketing strategies for enterprise software adoption.

Jeet Sharma, Co-Founder & CEO, ObserveNow engaged in a light-byte conversation with Vaishali to understand the women behind the designation as she shared about her choices in fictional characters, her proudest accomplishment in life, and a lot more life choices that make her life radiant and inspire her to keep innovating. Let’s dive into the conversation that unfolded some exclusive insights into her journey. 

Here is an edited excerpt:

In a room full of people, how does someone spot you? Describe yourself in one word.

Radiant

Your go-to Strategy for every Problem?

Innovate

If not in the current profession, what would you be?

Explorer

If your life was to be turned into a movie, who would you like to play your part?

Deepika Padukone

What’s your proudest personal accomplishment outside of work?

Survival

A one inspirational line you heard that you never forget?

“Success is not final, failure is not fatal: It is the courage to continue those counts.”

What’s your favorite book or podcast that has influenced your style?

The secret – Rhonda Byrne

Your favorite Destination in the world & why?

Interlaken in Switzerland, I am a nature lover and outdoor person.

Situated between Lake Thun and Lake Brienz, Interlaken offers stunning views of the surrounding Swiss Alps, including the iconic Eiger, Mönch, and Jungfrau mountains. The lush greenery, crystal-clear lakes, and charming Swiss villages.

What’s your favorite leadership quote?

“Success isn’t about how much money you make; it’s about the difference you make in people’s lives.” – Michelle Obama

The one thing you are terrible at?

Cooking

The Best book to read and by whom?

Ikigai – the Japanese secret to long and happy life by Hector Garcia and francesc Miralles

How do you face criticism?

Be open-minded and ask for clarity

Your favorite Movie quote?

“Picture abhi baaki hain mere Dost”

If you could choose one song to play every time you walked into a room, what would you choose?

Besharam Rang – Pathan 

If you could compare yourself to an animal, what would it be and why?

Lion cos it signifies power, courage, determination, and leadership

What fictional character do you identify with the most and why?

Katniss Everdeen from “The Hunger Games” series. She is free-spirited, confident, bold, and courageous, facing challenges with determination and strength. Katniss inspires others with her resilience and fearlessness in the face of adversity. Her strong sense of justice and independence make her a compelling and relatable character for many.

Which three famous people would you invite to a dinner party? 

Modi ji, Shraddha Jain (Aiyooshraddha), Amitabh Bachan 

And lastly, tell me about your most unusual talent which no one knows. If any

Hmm maybe I will say exceptional memory.