“Do I Need to Outsource My Marketing?” Answer These 6 Questions to Find Out.
You've built your business to this point without someone assisting you with marketing. You've worked hard networking, gotten referrals, and grew steady while investing little out of pocket in marketing.
Do you really need to spend money in ways you haven't to this point? Well, not necessarily.
Often we tell companies that hiring a marketing professional is just not worth the money for their situation. It can be expensive with not enough benefit for certain situations.
But in other situations, you are silly NOT to invest in marketing.
To know which situation you are in, here are 6 questions to see if it makes sense to take the plunge. If you answer yes to all of these questions, marketing is a NO BRAINER and we should talk. We can help you!
1. Is a New Client Worth More Than $5,000 Per Year in Revenue?
This isn't always a hard and fast rule, but I gotta tell you, if you are in a business that brings in revenue over $5,000 per year for each new client, marketing is a MUST! You are losing REAL revenue by NOT haven't an experienced marketing team with you.
2. Do You Typically Have to Educate Prospects BEFORE They Will Become a Buyer?
If you either provide a product or service that most don't understand, OR you provide a common product or service and do it in a unique way, then you probably have to spend time educating. And the most efficient way to do that is through marketing.
3. Do You Have a Sales Team (or Is the Owner the Sales Team)?
If you have invested in people to help you sell -- or if you as the owner are trying to do the selling AND the operations AND the administration, etc then you are missing the boat by NOT having a marketing team involved in your company.
4. Have You Been in Business More Than 5 Years?
Again, this one is not a hard and fast rule, but if you have been in business for more than 5 years, you are telling me you are good at what you do. It's not an accident. You've been able to repeat the process and a consistent number of clients have paid you to fix their problem
5. Are You Open to Change?
One of the things we tell our clients at MEMO is that change is good. You always need to be open to new ways of growing your business. And that doesn't always mean adding new things. It could also mean stopping things you've always done in the past. The goal is to increase revenue and profit for the company.
6. Do You Have the Capacity and Desire to Take On New Business?
This is a requirement. You must be able and willing to take on more business. Otherwise, it's NOT worth investing in marketing -- regardless of how you answered the questions above.
So I answered "YES" to all the questions above, now what?
If you answered yes to all these questions, then you should hire a marketing team to help -- and we would love to talk with you to see if we could be a fit.
Remember, you may be feeling that you are saving money by doing marketing yourself (or not at all), but honestly, you are losing money every year you choose not to invest.