3) Allocate yourself a marketing budget
I was recently talking to a struggling business woman about something totally unrelated to marketing when she asked me what I did for a living. When I told her that I was a marketing consultant she quite openly told me that she would never consider employing the services of a marketing company. When I asked her why, she explained that employing a marketing company was a luxury that she could never afford. “Anyway”, she said, “they would never be able to increase my sales to a point where it would cover the cost of employing them in the first place!” I was just about to challenge her view but didn’t get a chance as she quickly changed the conversation back to the topic we had previously been discussing. So, later that day, with her comment about marketing companies still ringing in my ears, I went online to have a look at her website. It was so evident from one quick scan of her website that she was missing out on so many potential sales that I’m confident would come about if she employed the services of a marketing consultant.
The point I’m making is that employing a marketing company or consultant shouldn’t be seen as a ‘luxury’ that you can afford to indulge in once you have made some money. Rather, employing the services of a marketing company should be viewed as one of the most important elements within your business plan. It’s should be seen as something that you can’t afford NOT to do rather that the other way around. Now, I’m sure many entrepreneurs, especially those on a tight budget, will be thinking to themselves that I’m bound to say this as I’m a marketing consultant myself. Well, of course I’m bound to say this but that’s only because from my own professional experience I have seen so many small businesses loose potential sales that would far outweigh the cost of employing a marketing professional. Spending a few hundred pounds on professional marketing advice has brought some companies millions of pounds in return. Remember, a good marketing company’s goal is to help you make much more money than you would if you didn’t employ their services – otherwise what would be the point!
But, what should you do if you are on a very tight budget and really can’t afford professional marketing support. Well, my answer to this is to become your own marketing expert until you can afford to pay for a marketing company with years of experience to take you to the next level. The book shops are full of great books on marketing that are cram packed with great ideas, tips, and marketing strategies that you can adapt for your own business. Then of course there’s all the knowledge in the world that can be gained from the internet. Not to mention all of the great marketing forums that exist online where you can pick the brains of professionals on any given aspect of marketing imaginable. By the time you have the money to pay for professional marketing support you will be fully empowered and a mini marketing expert. The marketing company that you eventually employ will love this as they won’t have to spend valuable time trying to educate you but instead get on with helping you to make your business an even bigger success!
All the best and I look forward to hearing any comments that you may have about this post,
Founder of End Goal Marketing
NB. The above tip is the third in a series of seven that I have written – here is a list of the others that I will be posting shortly:
4) Find the best marketing company you can afford
5) Create a marketing strategy
6) Measure your results
7) Adjust your marketing plan
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