There’s a lot that could go into marketing: advertising, public relations, promotions, sales efforts – online and offline.  Even if your company may have the best product or service in your trading area, an absence of good marketing can erode sales.

But if marketing is critical to growth, why do so many small businesses fail to put enough into it?

Here are 4 reasons why, and therefore 4 reasons to be alert for:

1.     Not enough time

Many small businesses are often started from home and/or operated by only a few people. With little staff and many tasks to complete, there may not be much time left for marketing activities.  Although the process of setting up a webpage, or developing brochures and flyers may take some time initially, in the long run sales generated from these marketing strategies will outweigh the time spent.

2.     Giving up too soon

Successful marketing is not an overnight process. Although there is plenty of hype around overnight success resulting in millions, the reality is for small business this just isn’t the case. Business owners may feel overwhelmed and be left wondering when their chance to reach the magic million will come. This is where a well structured marketing plan comes in to place, as well as patience and persistence.

3.     Great ideas but not willing to pay for them

Marketing should be seen as an investment as it is crucial when it comes to gaining the attention of prospective customers, however a lot of small businesses see it as an expense. In its first year, a business may spend up to 50% of its sales on marketing strategies. While traditional marketing has the potential to be costly, with the world moving more and more online, social media offers a perfect platform to kick start your marketing for no cost at all.

4.     Not understanding the importance of marketing

Starting a small business can have enough problems on its own. Let alone learning how to market effectively.  Due to a lack of understanding, small business owners can be caught in a trap that marketing is an expense rather than focusing on the benefits it can provide. Small business owners need to understand that marketing is more than just advertising and promotion. It helps to identify and understand customer needs. Now that is important.

In the end, marketing is critical for the growth and profit for your business.  Not only will it allow you to understand your customer’s wants and needs better, your customers will know about you. So watch out for the ‘reasons’ above, find the time and resources you need and invest in the growth of your business.