Updated: May 13, 2021
This text is from our consulting firm's latest 321 Biz Development episode found on 18 podcast platforms. There is too much content to write for this article, so readers are referred to the podcast for the complete story.
I wrote and did a podcast episode about small business owners' delusions with marketing their products and services where there are hundreds if not thousands of competitors in the same city.
The only entity benefiting from marketing campaigns are marketing companies. What marketing companies offer is 100% legit. Business owners pay marketing companies to increase products and services exposure to the public.
The obvious question readers have when I talk about this subject is: "Rick, you are marketing 321 Biz Dev LLC with blog articles and podcast episodes...why are you throwing shade on companies using marketing companies?"
There are two replies I give when this question is asked.
First, and most importantly, marketing implies there is an expectation to add new clients. I don't have any expectations to add new clients from blog articles and podcast episodes.
Second, my company's products and services are different. 321 Biz Dev products and services are intellectual in nature. Our consulting products and services can never be marketed like companies offering legal, dental, accounting, insurance or real estate services.
Looking back, I estimate 99.9% of our new customers and clients came from our company prospecting on the phone, meeting people in face-to-face settings and generating zero-cost referrals from previous customers and clients.
Fortunately, the industries 321 Biz Dev supports all can add new customers and clients by picking up the phone, meeting people in face-to-face settings and generating zero-cost referrals from previous customers and clients.
This article and podcast episode infer there is a choice between small business owners starting a marketing campaign through third-party vendors and small business owners finding new customers and clients using a sales system.
Small business owners do have a choice, but each choice has its pros and cons. But the larger, most important thing to say is consumers have choices, too.
Since the 2008 real estate and mortgage crises, consumers have been increasingly reluctant to fall for marketing pitches. The real estate and mortgage crises taught consumers that marketing companies are in it for themselves.
Now, marketing companies are not doing anything illegal nor unethical. But small business owners, especially industries selling big ticket, high price product and services, feel jaded because their marketing investments end up being marketing expenses.
Marketing investments deliver good ROI results (at least 2X the investment). Marketing expenses happen when revenues fall short of the investment.
There is anecdotal evidence suggesting that consumers are more likely to buy from small business owners who put themselves ahead of impersonal, marketing campaigns.
For some business categories (especially the industries 321 Biz Dev supports), consumers are likely to buy when business owners or well-trained staff make professional contact. A picture or an ad may be worth 1,000 words, but the personal touch to reach out to potential customers is stronger than any marketing campaign!
Just recently, a company sent me an email about their company's products and services. My first reaction? The company representative chose to send me an email instead of calling me. My phone number is always mentioned in blog articles and podcast episodes.
Any company sending me an email about their products or services instead of calling has a 99.9% chance of receiving a No response to their products and services pitch. And, this is what I would expect from companies if 321 Biz Dev sent emails about our products and services.
If this episode/article provoked some deep thought about improving your sales performance, please do not hesitate to contact me, Rick Nappier, at 726-999-0999.
Interested parties can click here to visit our website. Then, click the Questionnaire tab to complete the 5-minute questionnaire so 321 Biz Dev can learn more about your current sales situation or learn about your current or past experiences with trying to improve sales performance. A 321 Biz Dev specialist will contact you within two business days to review your responses.
We hope your enjoyed today’s post and linked podcast episode. Please check out the podcast episode for a lot more content on this subject matter.