Are You Giving Marketing the Respect it Deserves?
Are you giving marketing the respect it deserves? Consider the following scenarios. Scenario one: A small business is doing great. So great, in fact, that its owner decides there is no reason to “waste” money marketing. “These products are selling themselves!” Scenario two: Cash flow is poor, customers are scarce. “We have to cut costs!” First on the chopping block? Marketing.
At GoLeads, we talk to businesses every day that are experiencing one of these two scenarios. We also hear from people in the trenches who can’t convince the higher-ups to have a serious conversation about the importance of marketing, let alone increase its budget!
Marketing is the lifeblood of almost every business. Without marketing, it is virtually impossible to generate leads, convert sales or build brand awareness. So why are so many business owners so averse to investing in marketing? Or for that matter, to get involved in the marketing side of the business at all?
It would be hard to find a business owner who would say that saving money is a bad thing. It’s a fact that’s hard to argue. But the truth is, unless spending is completely out of whack, saving the way to profitability is impossible. Further, trying to save money on marketing to increase revenue isn’t going to work since marketing drives revenue.
By the same token, no one is arguing that when costs exceed revenue, expenses have to be cut. Inventory, supplies, product development and marketing all need to be looked at. Unfortunately, marketing almost always seems to be the first to go.
We get it, it can be difficult to spend money on marketing, especially when times are hard. But the fact is, marketing, although an expense, is one of the last areas successful businesses cut. Why? Because sales and marketing go hand-in-hand when it comes to driving revenue.
Another reason business owners shy away from the marketing side of the business is because marketing campaigns and initiatives take time to produce results. While there are some forms of marketing that provide short-term results, most forms, including brand awareness, require an investment of money and time. The time investment can prove difficult to wait out, especially if times are tight. Trouble is, deciding to opt out of marketing because it hasn’t produced an immediate boom is a huge mistake – especially since the groundwork for success has been laid.Here’s the bottom line: If you provide a quality product or a valuable service, marketing is the one thing you can’t afford NOT to do. Need help building a blueprint for marketing success? GoLeads is here to help. Not sure why you need to market your business at all? Let us show you why.
Just have questions? Call us today at 402-334-1824 or visit us online at www.goleads.com