What happens when you don’t market your business?
Can your business grow or prosper if you don’t do any marketing?
An oft-repeated mantra in the business world is that without marketing, no business can flourish.
However, with no marketing at all, what happens?
The short answer is that most people won’t notice your lack of marketing – but it depends on which industry you are in. For example, companies like Coca Cola spend millions of dollars each year on advertising campaigns, partnerships and endorsements. If they suddenly decided to not market their product next month, people would definitely notice.
Similarly for a start-up technology company spending venture capital money on PR firms and influencing bloggers: if they skipped this month’s budget many people would ask why and probably be told off behind closed doors. But for a small bakery or restaurant serving the same area, it might be a different story.
Some people might notice if they suddenly stopped marketing, but as long as the products and services remain top-notch, many wouldn’t really care. In fact, some might even prefer it! For example, why should I have to see those annoying ads from your company on this page?
But whether you’re a large corporation or a small business owner, marketing is a crucial tool for generating awareness of your brand and company. Without any marketing at all, how do you increase revenue? Obviously if nobody knows who you are then nobody can spend money with you. So what should businesses without an active marketing campaign focus on instead?
Without marketing:
Focus on increasing visibility through other means such as networking, product placement, public relations and creative word-of-mouth.
Increase revenue through other means such as branding, having the best products and services in your industry, referral marketing and increasing exposure to your target market.
Remember that just because you don’t do any formal marketing doesn’t mean you can’t keep up with or even exceed your competitors! And if anything, not doing marketing keeps you out of trouble with all those nasty rules about false advertising… (For example, it’s literally illegal under US law to say “we sell our doughnuts for half price every Tuesday” without actually reducing prices on Tuesdays).
And remember – unless you are literally giving away free doughnuts for life to everyone who comes into your store (and maybe then some), then you need to be marketing in one way or another. Even the most successful companies and individuals still spend money on advertising and making themselves known; they just do it more intelligently than others, perhaps by choosing a different method of publicity.
You can always contact us for guidance in anything related to Marketing, Investor Relations (IR), and Public Relations (PR). We are an award-winning firm and have been featured in the media as well, so surely we are experts in all these fields. Don’t worry, we will have solutions to all of your marketing problems.
Patricia Baronowski-Schneider
President
Pristine Advisers
Tel: 631–756–2486 | Fax: 646–933–0177
E-mail: pbaronowski@pristineadvisers.com
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