Back to: Market Your Business

“Marketing” is simply business school terminology for “building awareness.” There are many misconceptions about marketing, but perhaps the most damaging one is the idea that small or start-up businesses don’t need to do it. The reality is that no matter how great your business is, people can’t buy your products if they don’t know about you. 

Successful marketing results in a group of people who know who you are and what you’re selling. This group represents the top of what’s known as a sales funnel, in which people transition from strangers to customers. This process often takes a long time, with many “touches” required before money ever changes hands. At each step in the process, people will drop off. This is totally normal and does not mean you are doing anything wrong. What it does mean is that you need to have a rather large number of people aware of your product to result in a small number of people who will actually take action and make a purchase. Marketing your business throughout the year ensures that you’re constantly regenerating interest and awareness, building the pool of prospective customers.