Marketing is that necessary evil that most small business owners hate. They look at it like it is a black hole where their money will be lost forever, never to be seen or heard from again. If that is how you see marketing, then I’m talking to you because – You Don’t Know Marketing!
In previous posts, I have defined the term marketing. For this post, I think that definition bears repeating. As defined by Merriam-Webster, marketing is “the activities that are involved in making people aware of a company's products, making sure that the products are available to be bought, etc…” In essences, marketing is the way you attract customers to your business. Too many people think they know marketing when they don’t. They end up spending their money in ridiculous ways and then blame marketing when they don’t see the results they were expecting. They think marketing failed them, but in truth they failed marketing. They failed to do the research. They failed to make a comprehensive plan. They failed to follow through. And most importantly they failed to have a budget.
Below is an excerpt from an article I found on Legal Zoom. So if you won’t listen to the Mad Lady (although you should), maybe you’ll take advice from Legal Zoom.
“What goes in a marketing budget?
A marketing budget typically covers costs for advertising, promotion and public relations. Each amount varies based on the size of the business, its annual sales and how much the competition is advertising. Depending on the industry, marketing budgets can range from as low as 1% of sales to over 30%. New companies may spend as much as 50% of sales for introductory marketing programs in the first year. Smaller business may just try to match the spending of their direct competitors.
The overall marketing budget should include:
Determine a dollar amount for each of the above categories. Keep in mind, it is usually easier to begin with a base amount for the entire marketing budget, and then divide it into subcategories.”
Marketing cost money! There is no way around it. Big corporations understand it cost money to bring customers to their doors but for some reason, small businesses just don’t get it. You need to set aside money for marketing when starting a business and you need a marketing budget. I can’t even count how many times I have consulted with a new business owner and when I ask them if that have a budget for marketing, I hear the same response over and over – NO. No budget for marketing? Are you kidding me? Did they really think that their business was so special that it would soar above the rest without the aid of marketing “wings”? Just admit it; you don’t know marketing, so hire someone who does. Let Mad Lady Marketing leave you with these final words - if you don’t have a marketing budget – get one!
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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