One of the biggest objections I get from entrepreneurs when I introduce the concept of hiring me as a marketing coach and consultant is that they don’t have enough sales to justify the spend. They want to get some clients in the door before committing to a 6 month coaching contract. What this article so clearly shows is that companies in trouble get better when they spend money on marketing. See the stats below:
Here are results from a survey of 600 U.S. companies whose revenues increased after the 1981-82 recession, and what they did with their advertising during the recession.
- Companies that increased their advertising saw revenues increase 275%.
- Companies that decreased their advertising saw revenues rise only 19%.
It couldn’t be much clearer. You have to spend real money to make money.
If you are a new business or things have slowed down for you, you need to have faith that you need the help in improving your marketing to be able to move forward and get more clients. When I left my fulltime job, my last pay cheque went to my coach. I had no clients, I had no prospects, and I was darn scared. Here I am a year and a half later and I have a full practice, confidence and direction.
I mean, is it really the chicken or the egg that comes first?