31 Jan Truth Vs. Myth – Small Business Can Not Afford to Advertise
The U.S. Small Business Administration states that over 70% of small businesses are owned and operated by a sole proprietor.
There is a common myth among these small business owners that tells them they can not afford to advertise.
They believe only large companies can afford to promote their business.
These owners go along with the mentality that their business can’t support it.
Their behavior ultimately changes to support this belief, which prevents their business from growing.
Spending habits change and more company revenue goes toward frivolous services or goods.
Instead of an upward growth trend, they remain stagnant.
The truth is ALL businesses should advertise in the appropriate way(s) to reach new clients and strengthen their brand with existing clients. That method of advertising is different for every single business; however, you must advertise if you want to grow.
Sure, it’s possible to grow without advertising, but typically only to a certain point. This is especially true if you have competition in your local area, which most businesses do.
The best advertising method for your company may be radio ads, promotional products, direct mail, or billboards. It may be a combination of all types. The right type of marketing depends on your customer base and your goals.
The most important element is that you don’t believe the all too common myth that your business is too small to advertise.