How Much Marketing Is Too Much Marketing?
Do you Really Need Another Marketing Channel?
Marketing your small business demands a firm grasp on staying on budget. While that’s easy to say, it can be hard to do when you’re faced with an barrage of new and at least presumably exciting new marketing channels to explore. This occurs practically daily. There’s always some new software, program, product or social media channel that is asking for your consideration and money. It’s your task to learn how to stand firm, and resist the “Bright Shiny Object” syndrome to the best of your ability, or it will be your business that suffers in a number of ways, from lost time, productivity, and not least of all, capital. Learning to say “No” is a skill you need to nurture. Before committing to any new venture, consider these questions to see if it’s a good fit for your situation!
5 Questions to ask about “the next big thing”
- Is it needed? – Is this something your business has needed, and the time has finally come, and does it truly serve your core marketing mission?
- How will this work both short and long term? – When we start to see return on this, and we will continue to see benefit long down the road? For example, will that new social media channel even be around in a few years?
- Have you counted the opportunity cost? – What do we have to give up in order to implement this, and will these bring us closer to or further away from your marketing goals?
- Is there time, staff and expertise to make this work? – Will we really be able to do this with our current staff, and how large is the learning curve?
- Will this be viable year in year out? – This is a particularly good question when it comes to social media, where there is so much hands-on attention necessary. Is it a new trend or just a novelty that will quickly fade?
Once you’ve answered these questions, you’ll possess a far better idea of whether or not to take the plunge!