Most small business owners understand that marketing cost money, but what they don’t understand is that the cost of marketing is an investment in their business. If you want to see more customers, you must invest in marketing….period. There is no way around it. You can sit back and rely on the infamous “word of mouth” , yes, I said infamous because this belief is “all fluff and no substance”.
Now before you “purist” start saying Mad Lady, you’ve really gone mad today! How can you say “word of mouth” marketing doesn’t work? My answer to you is that it may work in the short term and produce minimal numbers, but it does not work in the long term nor will it produce maximum numbers. Yes, I know everyone says that it is the best way to market your business, but really think about it and ask yourself this question – If word of mouth was the “best” way to market a business, then why do so many successful businesses rely on other marketing avenues, i.e. advertising, PR, marketing materials, websites, social media, etc…? You can get a limited number of clients/customers from word of mouth, but you cannot grow a business to any real level of success depending solely on word of mouth advertising. Let me be clear, I am not saying a customer referral or a word from a friend is not valid form of marketing, but I am saying that you cannot simply depend on this for the extent of your marketing efforts. Too many people do and in turn, their businesses struggle and sadly fail.
If you have a small business or you are thinking about starting a business. Here are a few costs to consider when it comes to marketing. I’m sharing these numbers because you need to know how much money it really takes to market a business. Now these numbers may vary, but for the most part, they are accurate and you can verify them just like I did. Most of this information was pulled from the National Federation of Independent Business (NFIB). This is a good source for small businesses. It can help you answers business questions and give you a starting point for many of the things a business owner may want to know.
Hopefully these costs and website references will give you a better understanding the true cost of marketing. Again, I will say, rates will vary from company to company, but you can expect your cost to be somewhere in this ballpark. If you don’t have a budget for marketing, maybe these numbers will give you an idea of what you need to save up for. Remember, marketing is an investment that will pay off in the long run.
She is mad and she is not going to take it anymore! The Mad Lady Marketing Blog is just her way to drive home the importance of marketing in business. With over 15 years of experience in marketing, graphic design and communications, this marketing expert is mad (crazy) about marketing and mad (angry) at small businesses that don't understand or utilize marketing to promote their business.
Mad Lady Marketing is MAD!!
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