Recessions and tough times are good for marketing opportunities. But unfortunately most business professionals, entrepreneurs and even marketing experts have a counter-intuitive reaction to this statement. You know the old saying, “Buy low, sell high.” There is a corollary to this adage in marketing: “Economy soft, market hard.”
Now while I can send you a White Paper that substantiates this proposition so clearly and so emphatically, unfortunately it would not really matter how many reports, statistics or evidence I produced for many. What many of these businesses professionals are running into is not lack of evidence, but an abundance of preconceived and fixed ideas that disallow the ability to view new and more effective methodologies.
Case in point #1: Yesterday I was calling on a prospective client. I informed her what I did in that I helped small businesses like hers to effectively market themselves with internet marketing tools, such as social media and local search. She rapidly replied, “We don’t do marketing because we are a small company.” I had to suppress the laugh. Maybe it’s the other way around.
Case in point #2: Having worked for years with CPA’s, Accountants and Enrolled Agents, I have noted an epidemic amongst their industry members when it comes to a fixed idea that is literally stopping them from adapting to the new world of online marketing and social media. “We are a referral business only.” One CPA went onto tell me, “Although CPA’s are traditionally seen as having very little personality, our business is built on relationships.” I didn’t have the heart to tell him that this is the case with all successful businesses.
In these two case point above, it was not that there was lack of evidence or a lack of statistics to utterly prove that social media is referral ginseng: organic fuel for their most trusted source of marketing themselves and developing new business.
And this brings me to an important element that has been missing in the education system, our universities and within the various agencies and organizations established to help businesses. That good marketing is not an expense, but an investment; an actual part of conducting business. To succeed, any business person must not only know how to market, but must also know how to stay up-to-date on the latest developments in marketing, as there will always be better and more effective ways to market. As the world evolves, the ways of reaching, motivating and selling also evolve.
In its day, the Pony Express was pretty slick. It was the social networking of 1860. But then came the telegraph. Ponies and the adventurous men who rode them were now suddenly outdated. What was innovative one year was completely disregarded the next.
Get off the pony and learn to telegraph. Today, learn internet marketing tools and how to use them.Tags: Edwin Dearborn, marketing, marketing expense, marketing investment, online marketing, social media