Why marketing is an investment, not an expense
For a business to stay profitable and grow, marketing must be treated as an essential investment, not an expense, says Roylance Watson, director at Vazey Child.
Businesses that view marketing as something they can switch on and off, depending on the state of the economy or other factors, often struggle to remain successful. If your enterprise is to thrive, marketing should be a continuous, 24/7 effort that is embedded into the daily routine of your business.
Develop a marketing plan
Without a solid plan, businesses often waste time, money and effort on activities that yield little return. Marketing isn’t a one-time project; it’s an ongoing process made up of many small, integrated activities. A good marketing plan helps you break these activities into manageable steps and align them with your overall business goals.
By identifying your target audience and niche market, you’ll know where to focus your efforts and how to communicate your value effectively. This strategy will also help you remain consistent and stay in control of your brand’s presence, which is crucial for long-term success.
Create a repeatable marketing system
Once you have a plan in place, it’s important to create a marketing system that integrates into your daily business routine. Marketing doesn’t have to be overwhelming if you establish simple, repeatable tasks. Consistency is key – by making marketing a regular part of your schedule, you’ll keep it from feeling like an extra burden.
Treat your marketing activities like any other business appointment by scheduling dedicated time for them. Whether it’s an hour a day or a few hours a week, having a set time helps ensure that marketing is never pushed aside.
Outsource when necessary
As a small business owner, you may be tempted to do everything yourself, but outsourcing some marketing tasks can be a smart investment. Whether it’s designing your website, creating branding materials, or managing your social media, outsourcing allows you to focus on the core activities that help grow your business. While it may seem like an added cost, outsourcing can actually speed up your results and free up valuable time to pursue other opportunities.
Make marketing part of your business culture
Marketing should be more than just a strategy – it should become part of your business culture. Think of marketing as a way of projecting your brand, strengths and how you help others solve problems. When you meet potential clients, introduce yourself in terms of the benefits you provide, not just your job title. For example, rather than saying you’re an “accountant,” you could say, “I empower businesses to reach their goals and help them to become more tax-efficient.” This approach creates a stronger impression and builds interest.
Be persistent and patient
Marketing is a long-term process that requires persistence and patience. Results don’t happen overnight, but every small effort you make contributes to building your brand’s visibility and credibility. Activities like writing articles, hosting webinars and networking on LinkedIn help establish you as an expert in your field, steadily attracting more clients. Consistent marketing will keep your sales pipeline full, ensuring a steady flow of opportunities for your business.
Ultimately, marketing is not a cost; it’s an investment that fuels business growth. By committing to a consistent marketing strategy, you can build brand awareness, increase sales and ensure your business thrives in the long term.