What’s Your Marketing Budget??

success

Photo (CC) by Victor Bjorklund, on Flickr

You said you have how much to spend on marketing this year?

Oh, $4.5 million. Then you can buy a 30-second television ad for this year’s Super Bowl. Look at the publicity. We have been hearing and seeing teasers for the last two weeks or more.

But sorry to say they are all sold out. Plus just a warning about one-time marketing efforts, they rarely work. I need to see your name five or more times to know you exist and another five times or so before I may step in your door.

Maybe your budget closer to $0? You probably are commenting that I need to be realistic. No business can start without a substantial marketing budget. Don’t tell that to Toffee Talk. They did it using Twitter.

But you don’t know anything about social media? Well neither did Toffee Talk. Get online, watch to see what others do, dip your toe in the water, and then go for it. Do some planning ahead of time though regarding your goals and what your social identity and brand will be. For help in understanding getting online, you can get a free resource, eTailing: Taking Charge of Your Online Presence.

Marketing plans are not just about being online. The traditional media methods still have a powerful impact. So think about where and how they best fit your effort. (Just don’t forget that you need an online presence and you need to be monitoring your online reputation.)

A key to business success is not how much you spend on marketing but that you indeed have a marketing plan. “Build it and they will come” is a myth. You have too much invested and there are too many competitors to think chance will bring people into your doors, either in person or online.

The amount of money you have to spend is not the issue. Having a plan is. Know your audience, solve their problem, let them know you exist, and provide a great experience – before, during, and after the sale. These are crucial steps in your success.

UPCOMING EVENT – Thanks to Small Food Business for posting the Toffee Talk example. Jennifer Lewis, owner, will be our guest presenter for our February webinar regarding blogging and online marketing.

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This entry was posted in ETC by gmuske. Bookmark the permalink.

About gmuske

Glenn Muske believes in rural, small businesses as the cornerstone of a strong economy. His current efforts, as his own boss, focuses on helping those business owner achieving success. Previously, he did this for North Dakota State University Extension Service and Oklahoma Cooperative Extension Service.

4 thoughts on “What’s Your Marketing Budget??

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