I WAS talking this week to the owner of a business still in its first year who was bemoaning the fact that after a very promising start, things were quiet. What’s you marketing strategy, I enquired. Oh, I can’t afford marketing – all my money has been spent on setting up the business, came the reply.
The conversation brought to mind – yet again – that wonderful saying, marketing is a food not a medicine.
Often, companies regard marketing strategy rather like medicine, something to be taken when things aren’t going well. If sales are missing budget, invest in some marketing and watch the leads come flooding in. Oh, if only it were like that.
This kind of misguided thinking is one of the reasons so many otherwise successful businesses end up failing. They get comfortable feeling busy…until they suddenly realise their sales have dropped off a cliff. By then, it’s too late and they have to play catch-up with their competitors.
Marketing is like food. It’s the regular, sustained nourishment that is best for your business. It gets you where you want it – and keeps it there. So when you’re setting up a business and haven’t allowed for a marketing strategy and budget, you haven’t really set up your business have you?