Can you afford to market your business, or Can you afford not to market your business

Duct Tape Marketing: The World’s Most Practical Small Business Marketing Guide

The conclusion of duct tape marketing really made me think. Too offend small business owners either fail to put marketing into their budget or they don’t stick to any kind of budget and just throw money at marketing without setting limits. Either version is going to cost the business in the long run. If you don’t budget, you will not draw in the customers you need to grow to get the place to meet your goals. If you fail to follow any budget than you are pushing money into a bottomless pit without getting enough to offset the cost.

The first step is to set a marketing goal. The easiest way to set a goal for the business is to ask, where do I envision the business in five years. This question will lead to follow on question of how much grow/sales/referrals/ etc. is needed to achieve this goal. When the business owner has broken down where the business needs to be and the steps to get there, next is setting a budget to complete those steps to meet the goal. Jantsch states, “You should spend as little as you possibly can in order to achieve your marketing goals.” This is when a budget should be made. Not all plans work, but that doesn’t mean jump on the idea of the week and dig a deeper hole. Look at what is working and what isn’t and keep what is and change what isn’t.  

Jantsch, B. J. (2006). by John Jantsch Duct Tape Marketing: The World’s Most Practical Small Business Marketing Guide (text only)[Paperback]2008. Thomas Nelson.

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