Often, when I talk to small business owners about the need for them to market their businesses properly, the conversation usually turns to how costly it can be.
People talk about the cost of marketing material, the cost of advertising, the cost of other marketing activities, and if they think to prepare them, the cost of preparing marketing plans.
I prefer to think of expenditure on marketing as an investment rather than a cost, and especially if what you spend leverages into multiple sale volumes.
But this is often difficult to see for a number of reasons:
- Not many small businesses have focused marketing plans so their marketing activity ends up as a shot in the dark without any significant returns
- As a result, their marketing is a scatter gun approach so the cost of running marketing activities is not met by significant increases in sales
- When they do decide to prepare a marketing plan, they hire a consultant, at a significant cost, and the resulting plan is hard to follow because they are not actively engaged in the “advice” given
- Consultant-prepared marketing plans don’t allow for the business owner to adapt and amend as they roll it out.
What these small business owners (you?) need is a cost-effective way to turn the cost of a marketing plan and its implementation into an investment in finding more sales.