If you run your own company, you may or may not be involved in the marketing duties. In some instances, company owners can afford to reach out and hire a marketing specialist to work onsite with them, while others take the option of having an outside firm that specializes in marketing do the job for them. Whichever way you determine to be best for your business, there are a number of factors that you should focus on, allowing you the best possibility of succeeding with your marketing needs.
Don’t hit the panic button - First and foremost, you will find your business going through peaks and valleys during the course of the year, so never hit the panic button. You may get the urge to scale back your marketing budget when things are not going well, but that is likely the worst time to do that. While you’re toning down your marketing budget, your competition is likely going in the opposite direction. Reevaluate from time to time what’s working and what isn’t working, giving you the guidance necessary to move around money and efforts if need be. Remember, the day you stop marketing could be the prelude to the day you close your business.
According to research from
AWeber Communications, close to 70 percent of small businesses said they would be adding to their marketing budgets this year, with some 97 percent planning on doing no less than maintaining their present level directed towards marketing expenses. That being said, some well-known companies noted in the last year that they were scaling back their marketing over the next 12 months, with one even noting in hindsight, such a decision ended up costing his business customers and revenue. Those making headlines included:
