When it comes to business, spending money on things with an unpromised, unspecified or uncertain return is a tough pill to swallow. Most business owners budget very carefully – they want to know what they’re spending their money on and why; how their money is working for them. Marketing is one of those gray areas where, especially for the not-totally-new-school business owner, it can be difficult to grasp the concept of allocating large amounts of dollars toward something you only hope will work in the end.
That’s why a business mindset of scarcity is much more common than one of abundance – because when the results are unpredictable, it’s easier to just stick with what you’ve got. But instead of asking, “what will marketing cost me?” more business owners are exploring the possibilities that emerge when they ask, “what will marketing make me?” And I’m here to tell you.
The reason why more companies (and small businesses in www.digitalmarketingwar.com) are opening up their minds – and their wallets – to a new way of thinking is because they have most likely found at least one of the following five things to be true:
1. Marketing Makes You Money
Sure, marketing costs money. But it’s not supposed to be a blindfolded spend frenzy. If you know enough about marketing to test the waters with some high-value organic techniques that will get you a lot of mileage, then go for it, by all means. This will help inform your strategy down the road so that you have an idea of the areas where you need help, and so that you can reasonably predict your marketing expenditure.
However, if you seek the advice of a professional, the right marketer will set your mind at ease by not expecting you to dump huge amounts of money into their accounts up front and by explaining each strategy they propose, as well as why they’re priced the way they are. Then they’ll put together a quote which should not only align with your goals, but illustrate the anticipated return in proportion to the suggested spend.
Let’s face it, ‘marketing’ is a broad term but, in essence, the purpose of any marketing strategy is to get you found. Your product or service will only make you money if it is used by people, and awareness precedes use, wouldn’t you say? Whether you employ digital marketing methods such as building a great website, blogging, email marketing, social media, and paid ads; or go old-school with direct mail, circular ads, door-to-door advertising, and cold-calling, the intent is the same: get people to buy from you.
Marketing, when done right, should bring opportunities to your sales force, traffic to your website, and rings to your phone. Ask yourself: if you don’t have a website, then how are you getting found? How long will your current strategy be sustainable? Will it help you grow? If you have a website but it’s not bringing you business, then it isn’t working. Word of mouth success is wonderful, but do you have a plan in place for customer retention and acquisition? The answer shouldn’t be “how much will marketing cost me?” but rather, “how much do I want to make and how can marketing get me there?”
2. Marketing Makes You Reputable
How many times have you visited an establishment based on a word-of-mouth recommendation from a friend? Probably quite a few. Ever been somewhere really fantastic that you wouldn’t have otherwise selected if not for a positive review? Exactly! It doesn’t matter if people love your business if they’re not spreading the word, and a digital presence makes it much easier for your great reviews to be found by the masses. Publishing testimonials and success stories on your website is a wonderful way to market yourself and show prospects that they can trust your brand just like other customers have. Furthermore, getting yourself listed on well-known and highly trafficked directory sites makes it easy for people to do their homework before they buy – which is an integral part of the customer satisfaction experience.