Can I afford Marketing?

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It’s a familiar question in this area of business, but the real question is can you afford not to be doing any marketing?

When you own your own business you have the responsibility of drumming up new customers. Without doing that one, essential thing, you will simply end up with no business at all.

You could be brilliant at what you do, a real stand-out in your field but if you are not a marketing professional can you do a good enough job at selling your business product?

Sometimes it may become tempting to consider saving money by cutting out marketing expenses entirely but in the whole picture scenario this makes no sense because by cutting out marketing you reduce the amount of chances you have in finding extra business.

As an example, if you reached out to 200 potential new customers and got a response of say, 5% of that audience, you would be substantially making a positive impact on your long term business results. And if you treat these customs well any of them could end up becoming loyal long term clients.

 Furthermore, if you ran that same campaign again a month later you would potentially increase your customer base even further and have a few more customers to add to your list.

Now imagine that you had decided not to do any marketing so that you could save money. Five months down the track your customers have completed their purchase with you and your transaction with them has been finalised.

Would you see that customer again? As they thank you and walk out of the door,  you would hope so. But is hoping a good way to run a business or should you be taking a more proactive role by doing something to ‘make sure’ they come back. 

As well as that if you don’t do something to bring in new customers you will end up running your business down into the ground at a very fast speed.

It is true that you can do some marketing by yourself and you could get reasonable results.

But look at it this way. You are a professional in your field.  Just imagine what would happen if you brought in a professional who did marketing every day…Someone who knew how to find out where your customers can be found and then how to grab their attention so that they could be transformed from leads to full paying customers.

That sounds like something worth paying for.

So when you consider the cost of marketing your business, ask yourself the REAL question…
Can you really afford not to do any marketing?