Marketing: An Essential Investment. Not a Replaceable Cost.

Marketing can mean many things to different people. Some use the term interchangeably with branding or advertising. But, really, marketing is the umbrella of all services to from messaging to branding to positioning to selling. In essence, marketing is the act of persuading people to buy a product or service.

However, it’s not just ANY product or service – you need to convince customers to buy YOUR product or service, not your competitor’s.

The marketing realm is getting harder and harder to navigate. Not only is competition in your specific industry fierce, but so is the marketing landscape. There are a variety of mediums, channels and resources to ‘help’ push out your product or service. But, which one is the best for your business? The more avenues that open, the lower your reach in any specific medium.

Today’s world is changing. Attention spans are smaller. The market space is larger. And the introduction of GDPR last year has given marketers a whole new challenge. Nailing down a marketing strategy today is like trying to hit a moving target.

If it’s hard for marketing professionals, imagine trying to conquer the field on your own. You see, there are two types of capital – time and money. Would you rather spend your time learning every nuance of marketing and hope your strategy works or would you rather spend your money on a marketing professional(s) who gets it? The latter frees up your time to do what you do best – YOUR BUSINESS.

As a full-service marketing business, we get it. Talking about money with entrepreneurs or small businesses is difficult because they are on a shoe-string budget. And, as mentioned before, many organizations are wary of where to apply the bulk of their budget since there are many different channels and strategies in which to invest.

Admit it – every company needs marketing – even marketing companies. Whether you have a product, service or an idea, it requires support and encouragement to make its way into the world.

When SK Consulting started, we focused on local businesses and non-profits. As time passed, our portfolio grew, as did our services. We have built upon our brand and offer a unique business model to local, regional and global organizations. We work for businesses with varying budgets because we know, like snowflakes, no two businesses are alike.  Templates are not the answer. Customization is.

This is how we sell our service. Yes, marketing is an investment. At SK Consulting, we provide you options. Hourly. Project-by-project.  Retainer. We provide options so that you can see for yourself that an investment in the right marketing is a positive investment in your company.

The Marketing Sell

So why isn’t marketing an easy sell? It’s about positioning and perception. Some marketing agencies promise way too much ‘return on investment.’ But all benefits can’t be measured. There is qualitative return AND quantitative return. The fact of the matter is – if a marketing company doesn’t deliver, the relationship sours as does their reputation.

That being said, your marketing company should promise SOMETHING! Deliverables. Dedication. Availability. Strategy. Research. Budget Recommendations. The list goes on. Agencies that don’t promise anything, in fear of falling short, are doing themselves a disservice. This makes selling marketing solutions harder because there’s no visible benefit for the buyer.

When and Where to Invest

Again, marketing isn’t an expense, it’s an investment in the company. From product and package design to how many words are on the front page of your website, everything that communicates with the customer is a marketing decision, and therefore an investment in your business’ future. If you engage with the right kind of agency, marketing won’t cost you money in the long run – it’ll make you money. Just like with any investment, you have to part with your cash in the initial stages and put your trust in sensible and well-practiced predictions to see a return.

Marketing is not an expense the way a box of pens or internet service is an expense. Every social media profile, radio ad, or tweet directly impacts your business’ bottom line. If these things (or any marketing initiative) have the power to sell a product or service, and we know for a fact they do, then failing to utilize them properly, or at all, is business suicide.

Essentially, if expense is what you’re focused on, marketing will always be scary or frustrating.

It doesn’t have to be. Allow yourself to see marketing as a direct investment from which strong bottom lines flow. Conversely, bad marketing chokes off the flow of strong sales, allowing competitors and substitute products to cut off a chunk of pie originally meant for you. Marketing is the science of investing in your business and your products for the long-term (not focusing obsessively on early ROI – ESPECIALLY if you are a new business). The money might not flow right away, but the investment will pay off.

Keep building the plan, much the way you’d build a house. If done correctly, the sum will end up greater than the parts. Like anything in life, you simply must invest wisely. When looking at marketing partners, don’t look at the cost of their services. Look at the value they bring to your overall brand. Shop around. Find the best fit for you and your organization. In the end, you won’t see a return if you don’t invest.