How marketing in-house could be costing your company £££'s | The Project Marketing Company

How marketing in-house could be costing your company £££’s

Written By Nicola Ball

I’ve said it before, if you’re a small(ish) business, the likely hood is that you’ll be arming yourself with all the latest books and blogs on marketing and attempting to get your business on the map yourself.

Nothing wrong with that. However, I refer to an earlier blog about hiring the milkman to do the accounts. I recently read an interesting article that demonstrates just how much money, time and effort is wasted by not fully understanding the marketing mix and getting it all wrong. It’s costing you £££’s. I implore you, get in touch so we can help you.

We love putting businesses on the right track and seeing the results, it’s what gets the team out of bed in the morning. We celebrate success. We want to help you reach your goals and then we can celebrate your success together.

First factoid of the day.

More money is wasted on marketing than in any other part of most small businesses. Now, half the people reading this will think that’s because marketing is a waste of money. I’m not going to convert you. I simply ask you go over your last 12 months marketing spend and see what you got for it. What was the return on investment? If you don’t know, then it’s probably fair to say that you are probably going wrong somewhere. It’s an uncomfortable truth.

We put tools in place to measure your success. Some are simple tools, and some are complicated digital tools, however, importantly you can see what your efforts are bringing into your business.

The other half of you reading this, will be thinking, well I’ve done this and that and I know what my return was, and the investment simply didn’t wash its face, for want of a better expression. If that’s you and your business then you need to be more prudent with the marketing efforts.

Second factoid.

A survey carried out in association with the Centre of Economics and Business Research (CEBR) found that UK businesses are losing out to the tune of £122 billion worth of sales because of poor marketing. So, if your business isn’t experiencing growth, it’s probably because you went fishing with a spoon instead of a bucket. The research estimates that this is actually costing businesses nearly £26k a year on wasted marketing pounds. That’s money that no business can afford to be losing. Spend wisely, box clever, and glory will be yours.

There is business out there, no matter your sector. You have to get the strategy and direction right, put your marketing and performance measurements in place and importantly and I can’t stress this enough.

Stop with the lone wolf routine. It’s not big and it’s not clever and frankly if your ambition is be sailing round the world with a big fat bank balance then you’re going to need to draft in the experts.