It is true that marketing is one of the most important aspects of maintaining a profitable business, particularly a small one, but it is also important for owners to recognize the extent of marketing’s potential and be reasonable with their expectations.
“Successful advertising requires a lot of research into the various options available – print, broadcast, web, direct mail, etc. – and whether their potential results are worth the investment. In other words, people may see your ad, but will they respond to it? And are they the audience you want to reach in the first place?” asks The Citizen of Laconia.
As businesses emerge from the recession, many will rely on marketing to distinguish themselves from the competition, but they need to realize that a comprehensive marketing strategy – no matter how ingenious or effective – will not cure many of the problems associated with an economic downturn, such as sales, commodity prices or the availability of credit.
However, what marketing can do is, in its own right, invaluable. It can generate leads and create new customers, retain existing or repeat customers, build credibility or trust and improve your reputation.
While businesses should not, by any means, neglect marketing as they recover from the economy, it is merely important to recognize its extent.