The end of the year is always a reminder of business of the past and planning for business of the future. When I look back over the years I remember all the friends I have made through networking and other business and personal connections. Since Brandwise has been around for the last 12 years we have seen a lot of things and can actually see some trends.
One of the things we recently started thinking about, at the end of 2010, was how important marketing is in the success of your business. Over the last two years, more than any other time, we have seen a lot of businesses we have talked to about marketing, go out of business or very much still struggling through the "tough economy".
On one hand it makes me sad to see this sort of thing happened to business owners I have become friends with.
On the other hand we know 90% of all businesses fail within the first 5 years. So it should be of no surprise when I hear of one of these businesses going under. The sad part is now I can look back over the years and review the times we have spoken together about a solid professional marketing campaign for their business. There are several now extinct businesses that have decided to go it alone or find a cheaper solution for marketing.
Can we take 100% credit for keeping the companies we work with from having these same type issues? Maybe not, but I will tell you one thing.
The companies that DO invest in strategic marketing focused on getting results tend to be more savvy business people. This means they have a much higher survival rate than the companies that don't invest in marketing with a professional marketing or branding firm.
Yes, what we offer is expensive and I will not apologize for this.
The bottom line is this if we can double or triple your investment than this should be a no-brainer. But what tends to be more expensive is going on the cheap with your marketing and hiring a graphic designer, a friend or doing your marketing internal and hobbling along for an extra couple years incurring debt because you are unable to build your business. We have seen this time and time again in both mom & pops type companies, all the way up to larger companies selling higher dollar items $60K, $250K and more.
I have been calling on many businesses over the last month and many of them have put things off until the new year while others are unable or unwilling to make an investment in their company and their marketing. Do not join the big list of companies unwilling to spend $30-50K or more a year on marketing and in a few years either go out of business or just continue to struggle along for a few more years. Now is the time to take action, make a game plan and market aggressively.
The amount of change we have seen over the last 5 or 6 years, since Brandwise has been marketing our own company more aggressive each year, has been amazing. I can tell you we will spending somewhere between $50-90K in 2011 for our marketing (and some sales) efforts and we are looking at 2011 to be a record breaking year the way things were heading at the end of 2010. There is a good chance we will double our best year. This has come about because of our ongoing commitment to marketing Brandwise.
There is a good chance you can double your company's income with a serious marketing investment. If you are wondering if you can afford to hire a professional marketing strategist or branding firm like Brandwise, I would question… can you afford not to?
Make 2011 the best year ever. Invest in yourself, invest in your company's future and invest in high-quality strategic marketing!