Too many startup leaders deny the difference quality marketing makes and what they can afford.
5 min read
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Whip-smart brand positioning drives revenues for enterprises from Apple to Zappos. But for growing organizations, cutting-edge marketing can feel like a luxury. The Small Business Association suggests companies budget 7 to 8 percent of revenues for promotion, yet the average small business allocates just 1 percent.
That’s a shame, given that marketing brings in more money than it costs. A Nielsen study revealed an average return on investment of $1.09 for every dollar spent getting offerings in front of clients. Remember, that’s an average. With a little planning, marketing can deliver serious returns for even the smallest of startups.
Getting entrepreneurs to invest in marketing begins by knocking down common misconceptions around it. Here are the top three.