This week we are going to talk about why you should spend money on advertising.
What’s up Fish Fans! My name is Marcus. You’re watching Marketing Madness, the Blue Fish vlog!
Times are tough right now for a lot of businesses. And when money gets tight, many businesses start cutting expenses like advertising. Henry Ford is quoted as saying:
A man who stops advertising to save money is like a man who stops a clock to save time.Henry Ford - Maker of Cars
In this video, we will talk about why that is not the best thing to do.
In sales, there is a saying that people do business with people that they know, like, and trust. That is part of the reason why our 30-second elevator pitch includes the phrase:
Blue Fish helps organizations overcome obscurity and connect with their audience.Marcus Neto
Knowing about a business is the first step to getting someone to make a purchase from that business. If they do not know you exist then they cannot possibly make a purchase from you.
One of the main things you are trying to accomplish with advertising is brand recognition. Brands like Apple, Coke, McDonald's, Nike, and others spend millions upon millions of dollars in an effort to make you think of their brand before you think of Microsoft, Pepsi, Burger King, or Adidas. If they can achieve that then they have won.
But not every business has millions of dollars to spend on advertising. So what can you do? If I am completely honest, it is really hard to do anything worthwhile with a budget of $0. Even something like producing this video and getting it in front of you has a cost associated with it.
Some ideas for you…
- Write a blog post
- Record a video with your phone
- Record a podcast
- Share your process
- Create a referral or affiliate program
- Get active on social media
- Write a press release
- Give away a consultation or free product
These are just a few ideas to get you started. Don’t lose sight of the fact that a business needs to continually increase the number of people that know about them. This is the first part of getting someone to do business with you, they have to know about you. If you are a new business, doing so will increase the chances that you quickly get to the minimum number of customers you need in order to survive. If you have been in existence for some time, it increases the volume of customers you have which will increase your revenue. So there really is no downside to advertising if you do it right. As I always say, advertising should be an investment in your business, not an expense.
Well, that’s a wrap for this week! I want to thank you for checking in. Make sure to hit that like button. And if you have any questions or comments leave them down below. If you want to talk about how Blue Fish can help you grow your business just send us a message and we’ll get the conversation started!