Unless you operate a major organization with plenty of budget to spare, it seems that the resources for marketing are always on the edge of being cut or lowered. And especially for small and medium sized businesses, that's certainly understandable; after all, you only have limited time available to run your business, and prioritizing that time to spend on actual sales and customer-oriented efforts is certainly understandable.
At the same time, don't ever underestimate the power of marketing when it comes to helping your business grow and be successful. When you can't find the time to market your business, here are the four most common alternatives.
1) Nothing Changes
We're not going out on a limb when stating unequivocally that this scenario is by far the most unlikely of the three. If your business is exceedingly small, you have no room or desire to grow your customer base, and you know every single one of your customers personally, then even not spending a single minute on marketing during your busy week may not matter. It's worth mentioning this as a possibility, though in the vast majority of situations, the second alternative is much more common:
2) Your Business Stops Growing
One major benefit of marketing to businesses of any size is its success in customer acquisition. By spreading the word about your brand, you create a strategic road map for future customers to find your business and begin considering its products or services as an alternative to their current options. Without marketing, on the other hand, you rely entirely on word of mouth from your customers to accomplish the same thing, which is unreliable at best. In fact, even word of mouth can be enhanced and reinforced with targeted marketing messages, which you lose out on if you don't spend any time on marketing.
3) Your Business Starts Losing Current Customers
But the consequences can be even more dire than a mere slowing down stopping of your company's growth. Especially small business owners often underestimate the power of return customers, who aresignificantly easier to convert and will be responsible for the majority of your revenues. Of course, satisfaction with your product or service is a major reasons why customers return to your company. But without reminders and reinforcement from marketing, chances are you'll begin to lose your current customers to competitors who try to acquire them for their own business growth. As it turns out, marketing is not only crucial to help grow your business, but also to turn your first time customers into loyal repeat purchasers.
4) You Hire a Marketing Agency Instead
Let's recap the previous paragraphs: if you don't spend any time on marketing, there is a small chance that nothing will chance and your business remains successful. But in the vast majority of cases, your business stops growing and/or even begins to lose its current customers. No business owner or manager wants that to happen, which is why when you find yourself in a situation where you can't find the time to market your business, you should hire a marketing agency to do it for you.
Smaller businesses sometimes shy away from marketing agencies because of the perceived cost of doing business with a professional partner. In turn, they miss out on a variety of benefits, which include (but are not limited to) the following:
Marketing expertise that helps grow the business and retain current customers.
An in-depth understanding of the target audience and the channels on which they spend their time.
Increased time for the business itself to spend on other business operations.
Considering these benefits, it may be time to consider the partnership with a marketing agency as an investment with high return rather than a mere cost. After all, you don't want to miss out on growing your business or retaining your customers simply because you don't have time for marketing. To learn more about how a marketing agency like us can help you, contact us today.