Considering putting a stop to your marketing efforts altogether?
Before you make this potentially costly decision for your business, it’s important to understand exactly what happens when you stop marketing.
Fortunately, the digital marketing experts at Aqueous Digital can help.
Simply continue reading to discover the main disadvantages of not marketing your business and whether a company can survive without using any form of marketing.
What are the disadvantages of not marketing your business?
So, what happens when you stop marketing?
If you’re going through a period where the budget for your business is tighter than usual, it may seem tempting to reign in spending on the marketing.
However, doing so can have a wide-ranging and substantial impact on the overall success of your business.
From limiting your potential growth to putting you at a distinct disadvantage compared to your competitors, some of the key concerns to consider before stopping all of your marketing efforts include:
Missed growth opportunities
Marketing campaigns are commonly used to promote business growth. Without them, you may be able to maintain your current turnover via word-of-mouth and repeat business, but you’re unlikely to be able to connect with new customers or build your brand awareness in any meaningful way.
Competitive disadvantage
It’s rare that you’ll find a business that isn’t using some form of marketing. This means if you stop marketing completely, you’re putting yourself at a significant competitive disadvantage. If new customers can only find your competitors thanks to their marketing efforts, you’re missing out.
Financial loss
While you may believe that eliminating your investment in marketing, be it an in-person marketing team or an external agency, will save you money, this often isn’t the case. This is because the subsequent drop in both brand awareness and customer numbers can have a costly impact on your business.
Does the size of your business influence whether you need marketing?
Put simply, yes, the size of your business should heavily influence how much you’re investing in your marketing activities.
While smaller businesses typically don’t require as many sales or customers as larger organisations, they need to be spending enough to promote their brand recognition.
Larger enterprises, on the other hand, may not have as many concerns about brand recognition, but often need to make significantly more sales to sustain themselves.
Ultimately, every marketing strategy and budget should be tailored to the size of the business and its specific requirements.
Does the sector you operate in influence whether you need marketing?
The sector you operate in won’t influence whether you need marketing or not, but it should have an impact on your marketing approach and strategies.
If you’re involved in the lifestyle, travel, or fashion industries, for example, then you may see more success by investing in social media marketing.
By contrast, companies involved in the legal, healthcare, or real estate sector, are likely to see better results by utilising a SEO (Search Engine Optimisation) campaign. This is because customer demographics, behaviour, and preferences vary significantly depending on the industry.
As a result, your marketing campaign should be tailored to meet the requirements of the industry you operate within if you want to increase its effectiveness.
Can a business survive without marketing?
While it’s possible for a business to survive without marketing, it certainly can’t grow.
Whether you have the most success with PPC (Pay-Per-Click) campaigns, printed leaflets, or social media marketing, ensuring you understand which channels are the most effective for your business is essential.
A strong marketing strategy that takes into account the key goals, size, and industry of your company is therefore crucial to the continued success of your business, especially if it’s a smaller or newer enterprise without a well-established, repeat customer base.
Contact the digital marketing experts
If you’re unsure where to focus your marketing efforts, then why not get in touch with the experienced team of marketing professionals at Aqueous Digital?
Specialising in paid media, organic search, and reputation management for high-net-worth individuals, our team can help you explore your marketing options by taking into account both your budget and wider business goals.
We’ve helped businesses of various sizes and industries across the UK to achieve their digital marketing objectives.
Regardless of whether they want to increase their organic traffic or boost conversions for a certain service or product, rest assured that our experience and expertise can help.
To discuss your specific marketing requirements as part of your free, no-obligation consultation, please don’t hesitate to call us today on 0800 285 1424.
You can also reach out via email at hello@aqueous-digital.co.uk or online contact form.
