Top Ten Reasons You Must Continue to Advertise
If after starting a business and embarking upon a marketing program—which is to say, investing serious cash in promoting the business (serious being anywhere from $100 per month to $1,000,000 per month)—you decide to stop marketing for a while, turn immediately to this page and read the following list of reasons why you should continue to market:
1. The market is constantly changing. New families, new prospects, new lifestyles change the marketplace. Nearly 13 percent of the people in America changed residences in 2009. Nearly 5 million Americans will get married. When you stop advertising, you miss evolving opportunities and stop being part of the process. You are not on the bus. You are not in the game.
2. People forget fast. Remember, they’re bombarded with tons of marketing messages (an estimated 5000) daily. An experiment proved the need for constancy in marketing by running advertising once a week for thirteen weeks. After that period, 63 percent of the people surveyed remembered the advertising. One month later, 32 percent recalled it. Two weeks after that, 21 percent remembered it. That means 79 percent forgot it.
3. Your competition isn’t quitting. People will spend money to make purchases, and if you don’t make them aware that you are selling something, they’ll spend their money elsewhere.
4. Marketing strengthens your identity. When you quit marketing, you shortchange your reputation, reliability and the confidence people have in you. When economic conditions turn sour, smart companies continue to advertise. The bond of communication is too precious to break capriciously.
5. Marketing is essential to survival and growth. With very few exceptions, people won’t know you’re there if you don’t get the word out. And when you cease marketing, you’re on the path to nonexistence. Just as you can’t start a business without marketing, you can’t maintain one without it.
6. Marketing enables you to hold on to your old customers. Many enterprises survive on repeat and referral business. Old customers are the key to both. When old customers don’t hear from you or about you, they tend to forget you.
7. Marketing maintains morale. Your own morale is improved when you see your marketing at work, and especially when you see that it does, indeed, work. Your employees’ morale is similarly uplifted. And culling out marketing seems a signal of failure to those who actively follow your advertising. That won’t be many people, but it will be some.
8. Marketing gives you an advantage over competitors who have ceased marketing. A troubled economy can be a superb advantage to a marketing-minded entrepreneur. It forces some competitors to stop marketing—giving you a chance to pull ahead of them and attract some of their customers. In all ugly economic situations, there are winners and losers.
9. Marketing allows your business to continue operating. You still have some overhead: telephone bills, yellow page ads, rent and/or equipment cost, possibly a payroll, your time. Marketing creates the air overhead breathes.
10. You have invested money that you stand to lose. If you quit marketing, all of the money you spent for ads, commercials and advertising time and space becomes lost as the consumer awareness it purchased slowly dwindles away. Sure, you can buy it again. But you’ll have to start from scratch. Unless you are planning to go out of business, it is rarely a good idea to cease marketing completely.
Jay Conrad Levinson is the author of the international best-selling GUERRILLA MARKETING
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