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Entrepreneurs should prioritize professional marketing services early on to succeed. Watch why: https://youtu.be/PnjL_SEor1w
This week we dive into engaging professional marketing services and why it is so critical early entrepreneurs consider these services part of their must-have checklist!
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Zane,
Excellent summary! I enjoyed how you presented the data on professional services and the misconception of early priorities. Your statistic on what businesses should invest in marketing resonated with me; we suggest 8 – 10% of revenue, but entrepreneurs often allocate a fraction of that sum. It’s an unfortunate mistake that costs the brand growth. Undercapitalized marketing budgets usually equate to stagnation and sometimes complete failure.
In closing your presentation, I appreciated your ROI screen, especially as a PR practitioner who is constantly educating on the fact that PR creates awareness and feeds the top of the sales funnel. However, PR is changing, and for CPG brands that sell directly, joining an affiliate program is almost mandatory if the brand wants to be included in online product round-ups.
As always, amazing work. I think this video should be shared with undergrad business students. It is concise and extremely informative and a great overview of the various agency options. One thought to add – sometimes freelancers are an excellent option.
Cheers,
Coral
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Zane,
Thank you for your presentation on why entrepreneurs prioritize professional marketing services. What a great opportunity to be a guest host for the Love Your Brand podcast! I’m excited for you, and I’ll be looking for a blog about it.
I like how you emphasized the other expenses outside of advertising, such as legal services, bill-paying services, bankers, and accountants. You raised an interesting point regarding how those services do not help generate revenue. This is where becoming business savvy and well-versed in finance comes in handy, as shown by what we are learning throughout our degree progress. One service I will always use is an accountant. I do my own bookkeeping, but I want trained and experienced eyes on my financials to catch potential errors. I also think it helps with transparency purposes.
You’ve made me think about many different things, especially pointing out how marketing directly generates revenue. I do agree with you that professional marketing services are a must at some point during a business venture. Still, I also think it is important for everyone to learn how to operate social media and take control. Organically growing social media can be a painful process, but once you figure out a recipe of content that works for you, your fan base will grow dramatically.
Beyond social media, yes, professionals are needed. Making content is only one aspect, but making professional print advertisements or PDFs to share on social media as an advertisement is another thing. Another thing that can help entrepreneurs who might not have the budget to hire professional services is to become familiar with easy-to-use apps like Canva, which also has a premium subscription with access to many more templates and features. I’ve found the free version to be very useful.
The biggest takeaway for me was tracking your ROI, which is very difficult to do, even with tracking systems in place. It will be important for business owners to analyze their sales during a campaign to measure increased sales, or perhaps a decrease, and gauge the advertisement’s ROI/effectiveness.
Thank you for your thought-out presentation. It is useful information and has given me a lot to think about.
Kindly,
Shawn
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