The answer to this question is simple enough – MONEY!
To execute an effective and successful marketing plan, you will need money. You can either start your business with a marketing budget in your plans or not but one of these choices will cost you more money than the other. Can you guess which one? Yes, starting a business without a marketing budget will cost you more in the long run than starting a business with money set aside for marketing. How can that be? If you don’t include a marketing budget and try to build your business without marketing you may eventually reach your goals but it will take you longer and much more effort to do so. At some point, when you finally realize you need a marketing budget it may be too late.
Below is great information I found on the Small Business Administration (SBA) website.
“Whether you run a small business or a multi-million dollar corporation, marketing is essential to your profitability and growth. Yet many small businesses don’t allocate enough money to marketing or, worse, spend it haphazardly.
I recently got to know a business that was investing heavily in developing a hip, niche product to add to its already very cool product line. Seemed like a sure winner. However, it quickly became apparent that product development had occurred in a silo, while sales and marketing were off doing their own thing. The result? The week before launch, the business found itself with a fantastic product on its hands, but lacked a go-to-market plan or promotional material for the new product.
In a panic, an expensive PR firm, social media strategist, and marketing consultant were all pulled in to help drive awareness of the new product. Within a few weeks, the budget had run dry and the business had to quickly revisit its overall operational and sales and marketing strategy, while moving forward on a shoestring.
Products and services don’t sell themselves. By ignoring marketing until it’s too late, many small businesses risk hitting a brick wall and, quite possibly, failing. A hip and trendy product line shouldn’t rely solely on ongoing product investment and word of mouth.”
I included this information because it really drives the point home that marketing is essential and no business can make it without effective marketing and effective marketing requires a marketing budget.
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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