Doing business without marketing is like winking at someone in the dark. You know what you are doing, but nobody else does.
Stuart Henderson Britt, Author
During tough economic times, marketing your business is more important than ever. Unfortunately, many business owners cut back on marketing and advertising during difficult periods due to an understandable cash-flow problem. This is the biggest business mistake a business owner can make.
Business owners who cut back on marketing will not only fail to reach new customers, but they will also fail to reach existing customers, thus losing current market share once the economic climate begins to recover. Once a consumer has money to spend, they’ll go to the first place they can find. And if you weren’t marketing, they won’t know you even exist! Every day you neglect to market what your business offers is simply throwing money away. Marketing is an essential, crucial, and necessary part of every business plan.
Marketing your business is just as important as:
- Opening the door to your business every morning.
- Making sure you have enough products to sell.
- Having the staff to sell your goods and services.
You think you’ve got the best product or service around. But just because it’s great is absolutely no guarantee it will sell if you aren’t out there marketing it. How is anyone going to know how great what you have to offer is unless you tell them? That’s what marketing is – telling that potential pool of new customers that what you offer is great, and providing them with a reason to walk through your business door and try you out.
And marketing is unlikely to keep a customer for you – say, if your product isn’t very good -- but it will get them in your door to try you out. So make sure what you have to offer is the best!
And here’s a news flash: Your customer base is not static. It changes and fluctuates continuously. Customers move away, pass away, or go to a competitor. Therefore your marketing efforts must not be static.
Keep marketing, and you’ll keep finding new customers!
Next time you see a member of your Chamber’s staff, thank them for making this valuable information free to you.