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Do You Like Sabotaging Your Own Business?

I donu2019t need marketing. It doesnu2019t work. I canu2019t afford it. All of these lies are put to rest for good. Donu2019t do your own business a disservice by continually putting off the development of a marketing plan. It is especially important now that businesses make the transition online and establish a presence.

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Do You Like Sabotaging Your Own Business?

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  1. Do You Like Sabotaging Your Own Business? BLACKSHEEPDIGITAL.CA/

  2. Are you selling your business short by telling yourself these three lies? Now is the time to take the reigns of your business and tackle any projects that have been postponed or plain forgotten about. One of the most commonly neglected projects that we see is businesses ignoring the need to develop a cohesive digital marketing plan. This might feel like a catch 22 by devoting a portion of revenue into your marketing, but at the end of the day, marketing is what drives your revenue. It, unfortunately, doesn’t work the other way around.   Sadly most businesses are only willing to invest on average 1% of revenue on promotions. Businesses make an average of $2 for every $1 they spend on Google Ads (Google Economic Impact Report). When your marketing brings in more money than what it costs it’s disheartening to see business owners neglect the need for a properly sorted digital marketing strategy. Here are the top 3 lies that we have seen that delay the investment into a marketing plan. MARKETING VANCOUVER

  3. HOW MANY TIMES HAVE YOU TOLD YOURSELF THAT ONE ? This is the number one hindrance that will affect long term growth. Guaranteed. In the short term, you can get away with no marketing plan and cut corners on promotions. As your small business grows and becomes entrenched in your community you will cultivate a local following and earn goodwill from your clients. But relying on word of mouth and other grassroots techniques to spread your reputation can only go so far before it plateaus. Seeing early success from these initiatives can affirm the belief that marketing is not a significant channel driving revenue – better invest it into something else. The only regret you will have is why you didn’t start investing in your marketing sooner. LIE #1: I DON'T REALLY NEED MARKETING. THE TRUTH - IS IN THE NUMBERS If you were able to receive $2 back for every $1 spent would you do it? Obviously Yes. So why would you not utilize marketing as a channel to drive revenue? Marketing is rarely ever viewed as an investment for a business but it’s about time that perspective changed. Everyone needs marketing at some point – the key to approaching it is having a realistic budget/goals and align it with your brand’s objective. Getting more bang for you back is never going to get much better than right now. If you missed our last blog – read up on it here. You’ll find out why this is a crucial time to get your marketing plan in order and why right this instant is the best time to be advertising. DIGITAL MARKETING VANCOUVER

  4. ACTUALLY THERE IS. MANY ADVERTISING PLATFORMS OFFER BUILT-IN ANALYTICS. Let’s say you went ahead and hired a sweet marketing agency on retainer. All the deliverables are set into place, you have big plans for everything – but what are you advertising dollars actually working towards? A common mistake that happens (but should never happen) is performance metrics being completely overlooked. A survey that was conducted found that 45% of small and medium-sized businesses don’t measure their return on investment (ROI). Of course, if you don’t measure what your return on investment is you will be more inclined to say that there is no way to tell if my marketing works. You need to be closely tracking what advertising channel is generating revenue and what isn’t. Once you know whats working you can start scaling up your advertising campaigns. LIE #2: THERE'S NO WAY TO TELL IF MY MARKETING WORKS. THE TRUTH - MEASURE, REFINE, MEASURE, REFINE A winning marketing strategy is based on data-informed decisions. Flipping switches here and there hoping that something will work is futile. Simply, what it comes down to is calculating the total revenue generated by your advertising and dividing it by your relevant marketing costs. As long as your ROI is greater than 1 your campaign is viable (obviously you want your ROI to be returning more than this). Marketing is just like any other facet of your business, you cant improve on past results if they don’t exist. Start tracking your ROI and you will have your answer to your questions. VANCOUVER ADVERTISING AGENCIES

  5. YOUR SMALL BUSINESS NEEDS MARKETING BUT MAYBE NOT TO THE EXTENT OF A LARGE ESTABLISHED CORPORATION. AS THE OWNER, YOU MAY THINK THAT YOU HAVE ONLY TWO OPTIONS AVAILABLE TO YOU. • Do all of your own marketing – this will save you money, but are you willing to trade off the significant amount of time? Are you also capable of running an ongoing optimization of your campaigns? • Hire a local marketer – more expensive, but will eliminate the time investment and offer campaign optimization. (Check out our other article on Agency vs In-House Marketing ) LIE #3: I CAN'T AFFORD TO HIRE A FULL ON MARKETING TEAM. THE TRUTH: TAKE IT ONE STEP AT A TIME. Marketing shouldn’t have to be an all or nothing service. Why pay for services your business isn’t ready for just yet or flat out doesn’t need? A la carte marketing models exist to give small businesses more flexibility for their marketing investment. Marketing doesn’t have to be handled entirely in-house or outsourced. It’s easy for businesses to doubt the need for marketing, the difference it makes, and their budget. With a proper plan of attack, a business can bring in profit from their marketing efforts. MARKETING COMPANIES VANCOUVER

  6. Conclusion: I don’t need marketing. It doesn’t work. I can’t afford it. All of these lies are put to rest for good. Don’t do your own business a disservice by continually putting off the development of a marketing plan. It is especially important now that businesses make the transition online and establish a presence. COVID-19 has already begun to reshape the way our society functions and interacts lightning fast. How much of your shopping have you done online in the last few weeks? How many times have you heard ‘remote’ in a sentence? How are you staying in touch with your customers? Whether you like it or not the writing is on the wall – its time to get your digital marketing plan sorted… yesterday.

  7. READY TO STAND OUT? LET’S CREATE SOMETHING AWESOME TOGETHER! VISIT US: BLACKSHEEPDIGITAL.CA

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