Page 11 - Dr Pamela Peeke

Does Marketing Really Help A Business Grow?

By Rob Weinberg

Tough times call for tough choices. Less customer service or conclusion: “We’re heading
more debt? More retail outlets or greater web presence? And for a recession, and possibly
the ultimate question – should I market my business at all? a depression.”
Arguments in favor of marketing include controlling the mes- He discussed this with his
sage, increasing visibility and bigger profits. Arguments against parents and convinced
include lack of time and controlling the budget. them that his training would
Yet consistent marketing should be a no-brainer. Examine any now pay off. “Let’s stop
business growing in this economic environment and you’ll dis- advertising and save the
cover a solidly built, ongoing communications effort. money. When the economy
Companies that beat the drum get attention - especially when improves we’ll be in good
the competition is keeping quiet. Those who draw attention to shape again.”
themselves are more likely to get a sale in slow times and to The signs came down, radio
retain greater mindshare when things pick up. commercials stopped and
Still, marketing dollars make a tempting target. One area firm trucks and cars whizzed
recently slashed its marketing budget by 65% because man- by as they did before the
agement preferred applying these critical communications dol- company started promoting.
lars to the bottom line. Funds already budgeted were seen as Business worsened, with the
unnecessary expenses rather than investments to attract more chain dwindling to one stand.
customers. Finally, bankrupt, the last stand was also shut down.
To nobody’s surprise, cutting the lifeblood needed to expand The father sat with his wife one hour before closing the doors
the company is guaranteed to for the last time and thought: "My
have the opposite result. This son was right on target; we are
simple story from my youth in a depression."
makes the argument more Moral: YOU CAN’T SELL IT IF
eloquently than I ever could. YOU DON’T TELL ANYONE
ABOUT IT. It’s been proven San Diego
Once there was a couple again and again that those who Woman
struggling to make a living market when business condi-
with their hot dog stand by the tions are slow are way ahead
side of the road. Trucks and when it gets better.
cars would whiz by without To my mind this story makes a 11
even a glance despite the fact very legitimate point: Tell your
that their hot dogs were fresh story well, or risk having your
and tasty and their coffee was business fall apart. Whether you
the best in the entire area. It get sales leads with a web site,
was very difficult to support direct mail, promotion, print,
themselves and their young publicity or networking, you must
son. quickly and effectively impart the
One day the wife got a bright value your business provides or
idea. "Why not market our- you’re dead in the water.
selves? We can put up a big Remember: If you don’t bring in
sign and also put our mes- leads and close the sale, there’s
sage on billboards. We can no need to buy coffee cups or
even spend some money on empty the trash. Every annoying
the local radio stations extolling the virtues of our great food." aspect of your business will disappear if the company doesn’t
Before they knew it, trucks and cars were stopping by and busi- grow. And the only way it can grow is with some form of market-
ness was booming. They enlarged the stand and hired many ing.
people to accommodate the traffic. They stayed open seven So here we are in another recession. Some business owners
days a week, 24 hours a day and made more money than they are marketing their wares, positioning themselves to steal mar-
ever thought possible. It was the American Dream come true. ket share from competitors. Those who aren’t should consider
Business stayed good and the single stand became a chain. brushing off their resumes.
The young son grew up, went to college, studied hard and --------------------
earned an economics degree. His delighted parents took him Rob Weinberg is president of the MarketBuilding Team, has written two
into the business with a fancy title and office to match. books on marketing, and authors a free marketing advice column called Ask
The son studied the general business conditions and surveys Mr. Marketing. You can subscribe to his free marketing newsletter at
www.marketbuilding.com.
of the future by the most reputable people in the nation. His
Issue 2, 2009