No Business Can Survive And Thrive Without Great Marketing
A business in a bubble or vacuum will fail. The nature of business is that it’s wholly dependent on the patronage and awareness of its customers. As soon as it’s cut-off from its patrons, it will end up eating itself and die. It takes a lot of capital to keep a business rolling and those losses need to get recouped!
You need to make sales, even if it’s as simple as putting up a lemonade or hotdog stand near a place where many passersby converge. You also need to market yourself if your business is any bigger than a stand.
Customers are the Food and Marketing is the Restaurant
It’s true though. No business can survive and thrive without great marketing. Mediocre marketing or bad marketing can kill a business because marketing is inherently expensive and if you can’t recoup that expense with profits, your business won’t survive!
• What Happens When You Don’t Market Your Business: If you don’t market your business on anything—posters, print ads, online banner ads, TV commercials, YouTube ads, word of mouth, and so forth—you might as well shut the doors to your company. If your company sells products and no one is there to hear about it, it might as well not have.
• Popular Brands Usually Don’t Become Popular by Accident: Apple Computers didn’t become popular by accident. It took decades of marketing, hard work, dedication, and a loyal consumer base for people to relate the bitten apple logo to computers instead of some sort of farming company.
• Most Businesses Struggle in Taking a Market Share: Most startup businesses don’t get as lucky as the megacorps that dominate their arena. It’s like in boxing—for every Floyd Mayweather Jr. or Manny Pacquiao, there are ham-and-egger journeymen out there that require branding and marketing to survive and take their minute share of the market.
• Walk-Ins and Word-of-Mouth Have Limited Reach: You can survive on walk-ins and word-of-mouth recommendations as long as you’re willing to keep your business small. It can also work in major businesses like real estate, but those hinge on commissions that number the hundreds of thousands of dollars. Most businesses require constant attention.
• The Nature of Marketing Explained: Marketing your company is part of the equation to making it successful. You don’t even need to necessarily make the absolute best products or services available—marketing, advertising, and promotion helps you find customers interested in buying your specific brand or type of product, even if they’re just a niche market.
