Why is it that small business owners and entrepreneurs think marketing is a DIY endeavor? Would you do your own taxes? How about payroll? Or human resources? Probably not! Yet business owners seem to think marketing is easy enough to tackle on their own. All you need is a memorable slogan, a cool logo and a killer advertisement to hit the customer lottery, right?
The fact is, small business owners waste billions of dollars every year on bad marketing. Why? Because they’re guessing. They think they know what their audience wants. They think they know how to reach them. And they think they understand how to engage them. Before you know it , they’ve wasted thousands of dollars on ineffective marketing and still aren’t reaching their sales and revenue goals.
Before you spend another dime on your marketing version of Russian Roulette, check out these 5 absolutely urgent truths every entrepreneur needs to grasp when marketing their business:
- Market research is critical – no Google Adwords, advertising or social media campaign is going to work if you don’t know some basics about your target audience, your competition and your industry. Skipping the research is the fastest way to waste a lot of money on the wrong marketing
- A bad website is almost worse than no website – If your website is old, ugly or difficult to navigate you’d almost be better off taking it down and driving traffic to a Facebook page or blog. This is a potential client’s first impression of you and in a split second they will decide to take the next step or click away. Make sure your website represents your business appropriately.
- Success doesn’t happen overnight – marketing is a process not an event. It takes commitment and consistency.
- Facebook is NOT for every business – Just because everyone you know is on Facebook doesn’t mean you need to be spending a bunch of time and money marketing your business there. If you’re not sure if Facebook marketing is right for your business, go back to #1.
- Hiring a Marketing Consultant is worth the investment – unless you have an MBA in marketing, a marketing consultant is as important to your business as your CPA. Sure, they aren’t cheap, but you either invest in the expertise to do it right or waste a ton of time, money and resources on the wrong marketing. Trust me, you’ll end up wasting thousands – tens of thousands even – trying to do it on your own.