You Don’t Need to Spend More to Make More

I speak with small business owners a lot and for those who have not yet embraced the internet and the value it can bring to their business, there are some recurring themes. While I respect their concerns (because they are trying to do the next right thing in most cases) I hear some common objections that they consistently rely on to fend off another person trying to get into their wallet. (Note: The first barrier is the unfortunate view that many have of those of us in sales. Remember that good sales people are looking for win/win propositions so we can both be profitable and successful not just trying to “close” you).

The most common objection / concern / protection I encounter is cost. Especially in times of rising concerns (see Fight or Flight post from March 18, 2008) this becomes the easiest way to avoid what really needs to take place: asking the question “Is my marketing really working for my business?”. Some small business owners are creatures of habit and have been doing certain things (i.e. Yellow Book / Page / whatever) for years but have never tried to measure the value of that marketing spend. When most are asked the question about what their marketing dollars are actually making for them they can only tell you how much they spent on it and, at best, a ballpark guess about how much has gone to their bottom line as a result. In speaking to enterprise customers as well this is not an uncommon response either although their tracking is more sophisticated. This occurrence happens on a regular basis as I talk to marketing decision makers and it continues to surprise me.

So what to do? Enter search marketing. It is much more targeted than most print or broadcast advertising possibilities. It is interactive, which allows the business to find the best possible customers through a “dialogue” that doesn’t occur in other advertising mediums. It is measurable beyond compare. Using a tool like Google Analytics (which is free) will tell a business owner so much about their customers and prospects that they will have an “enlightenment” of sorts that can help other areas of their business. Did I mention it is measurable?

Lastly , and maybe most importantly, I would posit that it shouldn’t add any cost to your marketing budget. How is that? It’s pretty simple. Take the dead marketing spend that you throw at the usual marketing suspects (newspaper, Yellow things, radio etc) and really get honest. If something is simply not working then stop doing it. Sure, sales folks from those areas will argue the branding value etc. but you owe it to yourself to use your marketing money wisely. What better way to do that then to put it somewhere that shows you how it makes money for you?

Take a chance. Do something different but do it wisely. It’s hard to argue that putting money where it makes more money is a bad option.

Thanks and have a great day!