Why You Need to Market Even When Business is Slow and Revenue Is Down
You always hear “we need to cut down on marketing and advertising because we are low on capital”. That is something I don’t understand. Don’t get me wrong I had that belief once or twice in my career. It happens. You don’t understand the only place you should be spending when times are tough is advertising. It is always important to market. Good times and bad.
The importance of marketing
If you don’t market, you miss the boat. Have you ever watched professional athletes on the biggest stage in sports when they have already won? They don’t sit around and wait for the next game. They are constantly marketing. They always have social media and a website and so much more to market with. Are you pro athletes? Think about it. Would you like to be and if not, what would you like to be? If you don’t market then your dream of being a pro athlete could be nothing more than a dream and only the lucky few could live that dream. Let’s look at the psychology behind marketing. Marketers are always talking about the psychology of why people buy what they buy.
Why When Your Business Is Slow, You Need to Always Be Marketing
You have just laid off your last employee, so now you are trying to grow. At the same time, you are running out of money. So now, how should you market? Should you hire someone to handle your marketing? Do you hire someone now to help you grow in the future? What marketing do you need to do to grow your business? You need to get out there and keep marketing no matter what. The market is all about trying to reach your target audience as often as possible. There is no age, race or gender on this planet that your target audience won’t already be aware of. You need to market as much as possible. The good news is you need to always be marketing. That doesn’t mean you need to spend money. Don’t do that either. It means you need to market as much as possible.
The Advantages of Marketing
You must always be marketing. Marketing is the most effective way to generate leads, be top in the search results, and will put you top of mind when people are in need. In this digital age, if people don’t see your ad it won’t do anything. People are dicks, they Google. If they don’t see you, they will go on to the next ad on the page. The Top Marketing and Advertising Tricks Remember when I talked about writing a great content and planning an effective campaign for it? There is a lot of advice out there, and it is super easy to get lost in it. Your goals and methods are different than everyone else’s. I wanted to show you a couple of ways to be successful without the bottom-line thinking that most marketers follow.
Can I Really Afford Not To Market?
There will always be times when it is necessary to shut down. No business can keep operating at 100% all the time. That doesn’t mean you can’t succeed at it though. You don’t need to invest too much. You want to have enough of a marketing budget to build up a following and connect with your audience. That way you can bring them back with another message when times are good. What Happens When You Don’t Market? A lot of people have “made it” by being weird. They have a product or service that no one knows about or understands. They advertise a lot and because they don’t know what people want or need they are always trying to convince people to take a chance on their product. They never do what you need them to do.
How Much Does It Cost?
Where are you getting your return on your marketing investment? How much will you need to invest? How much does it cost? The more you know the better chance you have at making decisions on how to spend your marketing dollars. Not all marketing is good, some is absolutely useless. Some can even be a waste of money. For example when you get into TV advertising and cable spots that offer you to a really expensive internet free trial to get cable. If I am in the middle of losing money why in the world would I buy cable advertising when there is an online free trial? There is much more to advertising than just a visual experience. You should do your due diligence and really look at the return on investment. Just going on Amazon for something and not having a clue how to use the product.
Is It Worth It?
But that is a hard one. I’ve been in marketing for more than 20 years. I’ve spent most of that time as an agency owner. I’ve managed to turn that marketing budget into a small business. That is something I’m very proud of. It is hard work. I would never say that it is “worth it”. I would say marketing is always important to be investing in. It is hard. But I have found a way to make it more fun. Why You Need to Market Even When Business is Low and Revenue is Down If I’m doing this right, you are getting paid for marketing anyway. You are spending less to get your message out there. That means you have to make it worth your client’s while to pay you. That means you have to think differently and be strategic about what you are doing. Have a plan and be prepared.