Every Business Needs Marketing Tools
The real question for every business is not whether to engage in marketing but how to do so. All entrepreneurs know that in order to grow your business, you have to raise Brand Awareness. In order for your business to be successful, you need customers. You can’t get customers if they don’t know about you. Funny how that works, isn’t it? The next question asked is usually, “how much can I afford to invest in Marketing?”. Once you have determined that parameter the REAL work starts. Your budget is the first hurdle to clear in any race to increase awareness of your business. Once you know how much you can spend, you can then decide where to invest in your marketing plans. As a baseline budget, the Small Business Administration recommends spending 7-8% of your gross revenue on marketing tools.
I Have a Budget, Now What?
Whether your gross revenues are $100 a month or $100,000 a month, you still need to market your businessClick to tweet
The Tale of The Pen
One of the most enduring and familiar of promotional items is the logo’ed ink pen. They range from the cheap to the outrageous. As with any other promotional item, cost vs reach is the key consideration. When The Beacon Center first opened, we actually agonized over which type of pens to purchase. We were not big fans of promotional pens. We have always viewed them as throwaways. Something people may keep laying around, but pay little attention to. We recently were proven very wrong….. As mentioned, when we first opened, we made the obligatory buy of logo ink pens. I think it was 500 for our first and only order in over 2 years of business. We never gave them another thought until we got our first contract….from an ink pen. Our pen must have traveled around, as it ended up at a local investment firm. This particular firm had never been a client, but somehow our forgotten little pen made its way into their office. There it was picked up by one of their visitors. That very visitor just happened to be looking for venue space for an event they were holding. The resulting contract more than paid for that two-year-old order of ink pens and hopefully gives us a repeat customer and brand ambassador.
We are growing low on those ink pens, especially since we have started handing them out like candy. We will be investing in them again. In all seriousness, EVERY marketing effort you make can bring results. Sometimes the tool is small, sometimes the tool is cheap, it’s the act of marketing that remains the constant for every business.
If you would like more information on The Beacon Center and its affordable venue space, please reach out to us.