Mr. Marketing: You need to spend money to make money

Regular readers know I’m promoting MiniGolf For Good to help raise funds for Rancho Bernardo’s “Spirit of the Fourth.” The event guarantees face time with hundreds of would-be customers at Webb Park’s July 4th festivities.

Despite the low participation costs, many potential sponsors have begged off. Some have claimed confusion caused by a competing taxpayer-funded event at the upcoming RB Alive!

Last week an area business owner revealed another underlying issue: “I’ve spent lots of money on magazines, newspapers, and search engines. I’m not getting good response and business must improve before I put more money into marketing.”

The gentleman suggests a classic Catch-22 scenario: If his business doesn’t improve, he won’t invest in more marketing. If he doesn’t invest in more marketing, his business won’t improve.

Owning a business isn’t for the faint-hearted. Taxes, personnel, inventory, location, transportation, insurance, lawsuits…the list of potential pitfalls is seemingly endless. Overshadowing it all is the never-ending need for effective marketing.

The old saying “Out of sight is out of mind” applies, and you MUST have a continuous presence or the marketplace will forget you’re there.

Which puts marketing as one of those “pay or die” expenses. There’s no money for marketing…but there MUST be money for marketing!

I’ve known the frustration and maxed out my resources, always seeking that magic formula for success. The business owner intent on survival has no other choice.

Thirty-five years in communications has educated me about the solution to this chicken and egg question. You must market to alert customers you’re there, what you sell, and reasons to buy from you.

Merely opening your doors and hoping people will find you and buy from you just doesn’t cut it.

We’ve discussed before how businesses that market themselves when the economy’s slow are way ahead when it gets better.

Now, with the economy growing, the importance of continuous, successful promotions and market presence has expanded with it.

Bottom line: Tell your story. Then repeat it until your goals are reached.

And if your marketing investments haven’t yet paid off, start tracking where your business is coming from so you’ll know what works next time.

But to stop marketing because there’s insufficient business? You might as well lock the door and go work for someone else.

With that said, I wish you a week of profitable marketing!

Learn more about MiniGolf For Good at www.minigolfforgood.com.