Topic: Invest in Marketing (Read 769 times)

Marketing is indeed important to spread awareness about your business especially if you're just starting. There should be an allocated budget for marketing and this is for people to know your product and became known to others. However, make sure that your product/services offered are one of the best, because marketing is useless if your product won't meet their expectation. They will just come and go, and just tried your product if the advertisement is really true since it's attractive.

We have also a repair business. We're making sure that every customers leaving our store are satisfied with our service so they can recommend us to others. We market our business through social media since it's free. So far our business is still running for a few years now.

Thats indeed a wrong reasoning. It seems they contradict small advertisement or sharing of banners and flyers as marketing. My definition of marketing here is branding, SEO and website, including adverts, marketing videos, publications, press and radio stations, using influencers and public figures. Not just doing all this once but doing them at least for 6 months. Which we all know will cost a lot of money. Now do you think one week money will be enough to cover up all these expenses?

Most people believe it is where they can save.
Most people believe that a week end off is part of running a business, even though most successful companies like eBay, Amazon, Paypal, Tesla etc.. tell a different story. 80 hours weeks no one thinks is necessary. 

Most people believe they can do marketing themselves. Same with websites. Sure you can but will it be attractive to you chosen clients group?
You can burn endless money on misguided beliefs, just reading those marketing tricks, untested and repeated.
There is a good reason the AI are full of fantasy, 60% of the internet is copy and paste.   

The main reason why people do not invest in marketing is because you need to be up and running in your business.

Marketing is the most important thing in the business process, if the company does not have a good marketing, it is certain that there will be an increase in stock and costs, large companies and have survived hundreds of years understand that marketing investment is the most important thing, unfortunately many companies do not care about marketing so as to make business they went bankrupt and could not compete.

I have heard a lot of people say and believe that "if your product or service is good,  it would sell itself". That's not entirely true. 
No matter how good your product/services are,  if people don't know about it or are not willing to patronize you, then you will have no customers or clients. 

I think many companies understand how important marketing can be, but at the same time they do not have the money to afford a professional campaign, and this is because in many industries the largest expense they have to make is not the payments they have to give to their employees or the machinery needed to make their products, but the payments for the marketing campaigns they run, and this makes it impractical for many small businesses to run those campaigns, especially if the industry they belong to has a very high level of competition.

Marketing is the most important thing in the business process, if the company does not have a good marketing, it is certain that there will be an increase in stock and costs, large companies and have survived hundreds of years understand that marketing investment is the most important thing, unfortunately many companies do not care about marketing so as to make business they went bankrupt and could not compete.

Anyone who thinks that marketing isn't important, shouldn't handle any business. It is of course very important. Without marketing, no one would recognize your brand. You might have a small customer base, and you will be stuck with that small "loyal" customer base for the rest of your life if there is no advertisement and marketing of your brand/company. Yeah, the customers might spread the word among their friends and families, but those people won't remember it, because for them it was just another "gossip". But if you market and advertise your brand/company, those friends and families will recognize the brand because they have heard about it and will make them want to try it. Investing in marketing is the best thing you can do. It might be expensive, but the returns and the results might stun you!

I have heard a lot of people say and believe that "if your product or service is good,  it would sell itself". That's not entirely true. 
No matter how good your product/services are,  if people don't know about it or are not willing to patronize you, then you will have no customers or clients. 
Some companies sell water and market it so well to the extent that people believe it is more nutritional than normal clean water when in fact it may just be water. 

I know people will argue and point out a few companies that don't advertise their products,  yet they're successful, but I tell you for a fact that those companies invest in marketing one way or the other.  They just might have found a formula that works for them since they most likely have a relatively smaller target audience.

If big companies like Google, Coca-Cola, Binance,  Pepsi,  and the rest still invest heavily in marketing,  then how much more you that is still a small business or brand operating on a street in your neighborhood,  or you with a laptop and a phone on your bedroom table?

The rate of Gambling today has increased partly because of the marketing of online casinos and sports betting companies. 
I don't think there's any industry today that doesn't have a high rate of competition.  It is now the survival of the fittest everywhere.
Having a perfect product or service to offer is not the only way to remain in business,  if it were so many companies won't go under. A major reason a business stays in business is through effective marketing. 

"Marketing is expensive,  I don't make much as a business to compete with the rest"

Yes,  I'm well aware of how much it cost to get a billboard,  hire a marketing firm/agency,  get your ad on TV or radio or get an ad space in a magazine, or pay an influencer,  but the world has gone way beyond that and we all know it.  Now,  these mediums listed above are not irrelevant (on the contrary,  they are still very relevant ),  but there are other less expensive and easier ways to market your product. 

Take advantage of the digital world we are in today and put yourself out there.
A simple social media account that posts relevant stuff about your business and interacts with clients and potential clients is marketing.
Very few people on this forum don't use at least one Google product.  Google has made it very easy to market your products and business using "Google ads".  You can put out an ad that gets to your target audience for as low as $10 a month. You can use the cost-per-click (CPC) formula,  that way you'll only pay for an ad when someone clicks on your ad. 
Facebook ads are also very similar.  You can place an ad that costs from $1-$10 per click.  The same goes for youtube ads and many others.
These platforms have very good tools that can help you achieve your goal and achieve the objective set for your marketing campaign. 
These may seem very complicated but they're not.  There are step-by-step guides you can follow.  They also have tracking tools you can use to track the effectiveness of your marketing campaign.
If you can't set it up by yourself or you don't have the time,  you can hire someone to do it for you. 

For your business,  brand, or product to grow you have to make a conscious effort to make it more.  Your service or product has to be superb,  but I believe your marketing needs to be better.
A product is only as good as advertised. 

Anyone who thinks that marketing isn't important, shouldn't handle any business. It is of course very important. Without marketing, no one would recognize your brand. You might have a small customer base, and you will be stuck with that small "loyal" customer base for the rest of your life if there is no advertisement and marketing of your brand/company. Yeah, the customers might spread the word among their friends and families, but those people won't remember it, because for them it was just another "gossip". But if you market and advertise your brand/company, those friends and families will recognize the brand because they have heard about it and will make them want to try it. Investing in marketing is the best thing you can do. It might be expensive, but the returns and the results might stun you!

Marketing is indeed important to spread awareness about your business especially if you're just starting. There should be an allocated budget for marketing and this is for people to know your product and became known to others. However, make sure that your product/services offered are one of the best, because marketing is useless if your product won't meet their expectation. They will just come and go, and just tried your product if the advertisement is really true since it's attractive.

We have also a repair business. We're making sure that every customers leaving our store are satisfied with our service so they can recommend us to others. We market our business through social media since it's free. So far our business is still running for a few years now.

I have heard a lot of people say and believe that "if your product or service is good,  it would sell itself". That's not entirely true. 

Anyone who thinks that marketing isn't important, shouldn't handle any business. It is of course very important. Without marketing, no one would recognize your brand. You might have a small customer base, and you will be stuck with that small "loyal" customer base for the rest of your life if there is no advertisement and marketing of your brand/company. Yeah, the customers might spread the word among their friends and families, but those people won't remember it, because for them it was just another "gossip". But if you market and advertise your brand/company, those friends and families will recognize the brand because they have heard about it and will make them want to try it. Investing in marketing is the best thing you can do. It might be expensive, but the returns and the results might stun you!

If the product or service is good, it will sell itself, but it will sell for how long. We should develop that product and realize that there may be the same products in the market. The better a product is, the more open it should be for improvement.

Our product may be very good, but others should know about it. In order to reach the sales we want, we must do the marketing in the best way. Otherwise, no matter how good our product is, it won't make sense if we can't sell it.