Reports show that as many as 50% of small businesses don’t have any marketing plans at all. Rest assured, this is an absolute recipe for destruction.
Without properly advertising, your business runs the risk of growing stagnant and stale. Worse, you could very easily find yourself going out of business.
But, if you’re reading this, chances are it isn’t too late to turn things around. Make sure to keep reading to learn why marketing your business should become a top priority.
1. You Need to Grow Your Business
Business advertising ultimately serves one sole purpose — to facilitate growth. That sounds obvious, but once you take a deeper look into what growth means these days, you’ll quickly see just how much of a difference marketing can make.
Let’s say your current strategy relies on excellent service and word of mouth. That’s a fantastic start! In fact, you’re already marketing in a way, as word of mouth can be one facet of a great strategy.
However, failing to understand why and how to advertise your business significantly reduces your potential customer base. You might have the perfect product, but if people don’t know about your business, there’s no way they can experience everything you have to offer.
2. Marketing Your Business Isn’t Expensive
It’s a safe assumption to make that cost is the prohibiting factor for most business owners. But rest assured, we’re in an era where advertising is more abundant and more affordable than ever.
Consider social media marketing, for example. Opening up a Facebook page for your business and cross-posting content from your website costs nothing.
The same goes for interacting with your customer base! Joining social media groups and basic email marketing might be free of cost, but they yield some great results.
Plus, digital marketing is a great companion to your in-store advertising strategy, particularly if you’re already taking a hyper-local approach. Think of it as a complementary solution instead of a replacement.
Say, for example, you’re planning to buy space at a local event. A tablecloth for 6 foot table with your name and logo on it is certain to impress, and by promoting the event on social media, more people may visit your booth.
3. Your Competitors Are Marketing Masters
Why would you give your competition an advantage? Make no mistake, if you’re not advertising, that’s exactly what you’re doing.
Advertising — even on a tight budget — at least puts your company on even ground.
Again, you don’t have to spend thousands on a marketing budget. Creating a Google Business Profile with a quick summary of your business, a link to your website, and contact info is the perfect solution for small business owners.
It’s Time to Start Marketing Your Business
Whether you’re concerned about cost, a perceived lack of knowledge, or you simply don’t think advertising is important, we hope it’s clear how important marketing your business is. You have great products, and it’s time you found your audience!
Are you interested in more tips for growing your business? Check out our business section for more helpful hints, so you can stay one step ahead of the competition.