“We don’t need to advertise…”
- May 25th, 2016
- Author: Small Pond
- Posted in: Company, Myths & Facts
It was really pretty sad. I pulled up to a store location recently, one that DID NOT advertise in our local directory last year. And the store was vacant. Another failed small business.
It’s not unusual though: I’ve seen stats that as many as 8 out of 10 entrepreneurs who start businesses fail within the first 18 months. That’s a whopping 80% crash and burn rate.
Of course these business owners had all the answers last year:
- We are using “word-of-mouth” for advertising
- Everyone knows us
- We’re big on Facebook and with other social media
- And my favorite – “No on uses print yellow pages anymore”
Well, here we are a year later, and the business is no more but our print yellow pages are still going strong. Their “word-of-mouth” was maybe 1,000 people. Our “word-of-mouth” was 40,000 copies to every home and business in the area with product that will be there for THE YEAR. And oh by the way, your ads are also available online at www.SmallPondYP.com.
I’m sure the fact that didn’t advertise in our directory wasn’t the only reason they didn’t make it. But if your business plan doesn’t include spending about 10-12 percent of your gross profits on marketing and advertising (20% if you’re in a competitive industry), then the averages are stacked against you. Unfortunately most start-up and small businesses usually allocate only 2-3%. Hence, the high failure rate.
Which is why we are here. We have a full range of print, digital, and mobile products that can help your business make a big splash with your advertising. But first we need to talk about where your business is and where it is headed.
Call us now at 386-256-7353 or email us at mailto:firstname.lastname@example.org so we can schedule time.
Don’t become that next empty store….