How can you be a small business and not take a good, long, close look at your marketing efforts?
Apparently that’s what 26% of small business owners said in a recent Yellow Pages Association survey about small business marketing efforts. Now, there’s alot about this survey that’s not surprising. Generating and retaining customers is the number one challenge for small businesses — not a shocker. Actually, feel free to replace “small” with “medium,” large,” or “any.” I mean, there aren’t many businesses where finding customers is not one of the most important challenges. 62% of business don’t use outside resources to assist with their marketing efforts — also not a shocker. They’re small businesses, so they’ve got small budgets and hands-on people who lead the search for customers.
But more than a quarter don’t measure ROI on marketing? Now that is astounding. If you have a small budget, and customers are challenging to find, and it’s a tough economy, and you don’t use any outside resources to help — don’t you want to be sure you’re spending your money in the most effective fashion? Don’t you NEED to know you’re finding the most customers for the most effective cost?
The survey signals a need for small business owners and marketers to ensure you’re measuring ROI the right way, and that you’re up-to-speed on how to measure ROI in the first place. Perhaps that’s the reason for the 26% who drop the ball on measuring results. Before you charge ahead with a marketing plan, make sure than plan includes looking at your results and putting your resources in the right places. That’s Marketing 101.