Despite the distinct challenges business owners face with their marketing, many openly admit that their marketing efforts sit at the top of their priority list.
In a recent study, 89% of small business owners reported that they considered marketing as either their first or second priority. Yet, an astonishing 74% said they did not feel like they had effectively implemented their marketing efforts. The question arises, if business owners openly admit that marketing is at the top of their list of priorities–89%, why then do only 26% feel they have adequately implemented a marketing plan and strategy?
Here’s a reason or two.…
In life, most of us tend to follow our passions, as we should. Things that get us up early in the morning and that are immediately on our minds, invigorating us, should be the things we pursue. Most people who start a business do so because they feel energized about their product or service and how it benefits the consumer.
They feel passionate about their product and feel they produce or fulfill it at a superior level. Motivated by a sense of accomplishment, they find their hard work is rewarded when the world buys their product or service.
Think back for a second to the reason you entered the small business arena. Did it not have something to do with feeling that you could produce or offer a superior product or service?
Or, are you one of those people who finds their motivation in trying to achieve the “flexibility” and “freedom” that comes with owning your own business? Or, maybe it was that you enjoy growing and nurturing something, seeing it become something greater than the sum of its parts? Or, perhaps it just had something to do with a passion or hobby you really enjoy and are good at?
Whatever your reasons were for starting your own business, most likely they weren’t because you wanted to market a product or service. (Otherwise you would have started a marketing business, like we did at Pinpoint Marketing, right? This should make sense.)
Unfortunately, for most small business owners, marketing isn’t one of their core competencies and is as unfamiliar to them as a foreign language. The sooner small business owners realize that marketing requires a completely different skill, one that requires years of study and experience to master, the better off they will be. The simplest and most concise answer to the question of why most marketing is ineffective or just simply fails is that the small business owner focuses on producing their product and/or service, not on convincing the consumer to buy it.