Building your Field of Dreams? Make sure you let people know.
Posted on May 5, 2014
As a new small business owner with clients who are mostly small to medium-sized businesses, I took particular interest in this article from Entrepreneur.
It outlines six expensive mistakes that people make when starting a business. I want to highlight one of them in particular.
One of the six expensive mistakes is: Being cheap about marketing. It won’t surprise any readers that I concur. But it isn’t what you think – you may or may not need to hire a marketing services firm (like TMD).
Just make sure that you put money aside to invest in marketing. Don’t be afraid to tell people about your business, product or service! As noted in the article, it’s recommended that new businesses reinvest about 10-20% of sales into marketing. The percentage drops as revenues grow, but never really drops below 5%.
You might have a great product or service, but this isn’t the Field of Dreams. Just because you build it, doesn’t mean they will come. Make sure you plan to let people know about what makes you remarkable!
Next blog article will be about using free data to make better marketing decision. In the meantime if you are interested, we’d love to meet you for a free marketing consultation.