Have you ever thought of marketing as a luxury? Something your company maybe can’t afford right now, or isn’t needed to help grow your brand? Well, boy oh boy, do we have news for you! Sure marketing can be luxurious, but marketing is definitely not just a luxury reserved for the big players in the game. Marketing is a necessity.
“Prove it,” you say? Ok, game on! Let’s Fig It Out.
Here are 3 reasons why you need to be marketing your business:
1. It’s worth the money, honey.
The U.S. Small Business Administration recommends spending seven to eight percent of your gross revenue on marketing and advertising if you're doing less than $5 million a year in sales. Most larger corporations are spending 12%.
2. Marketing is fuel.
It’s not what you do to fix a problem or lack of engagement. Marketing should be thought of as a "sustaining" effort. It’s not medicine, it is fuel and you don't stop because business is good. You keep going until business is GREAT and you can sustain the greatness.
3. The question isn't whether or not TO market, it's HOW.
All marketing is equal. NOT. This is the mindset that hurts a lot of small businesses. The how, when and where you market is critical. Going in without a strategic plan and thinking, “As long as I market, I’m fine” is why you might write marketing off as a luxury - because you won’t see the ROI you expect. Not only do you need to market, but you need to figure out how you can market to meet your goals.
Simply spending 10% without a plan, strategy and deep understanding of who you're talking to, is a waste of money and time. A strong strategy is needed to determine budget, timeline, target audience and placement. But patience… Patience our dear friends… Is our secret step
Just because it doesn't generate immediate tangible ROI does not mean it's not working. Good marketing takes time and can’t be rushed, but you can help move it along with a little help from Fig. We can help you with that plan. We can help you define your audience, choose proper placement and build a budget.
Contact us for a complimentary strategy session and let’s #FigItOut.