Running your own business is not easy. As an entrepreneur, you have a variety of different demands placed on you every day. The trouble is that you can end up getting sucked into operational issues, which can take valuable time and energy away from one of your most important tasks – growing your business.
You may think that as a SME, marketing will not have an impact on your company. This could not be further from the truth. Marketing is extremely important for any small business – here’s why.
Word of mouth is not enough
You may think that your business will grow entirely through your customers and friends spreading the word. While this is a powerful brand building tool, it has its’ limitations. Firstly, if your potential customers are not aware of your business, they won’t be able to make use of your product or service.
Secondly, in addition to word of mouth, you need to add credibility to your business. You can do this by having a great website, or a professionally designed brochure as a starting point.
Marketing is too expensive
This is a common myth among entrepreneurs. While marketing can be expensive, it is an investment in your business, which will pay off in the future. However, there are many great tools that small businesses can use to market themselves without spending more than they need to. For example, you can build a great basic website with template sites such as Wix and Yola.
You can outsource your marketing
If you would like to have the advantage of a professional marketing manager, but you cannot afford a full-time resource, you may want to consider outsourcing these services. With a marketing consultancy, you can work on a project basis – which means that you only need to pay them for the time that they are working on your brand.
Another advantage is that you get all the costs upfront, and you can soon determine the value of your spend. It also allows for less risk – should you be unhappy with the service that you are receiving, you can terminate your contract.
By spending a little bit of time and effort on marketing, you will see the benefit of investing in this area. In today’s competitive environment, marketing is a powerful tool that will help your business stand out from the clutter.