Categorized | Business


Advertising Your Way Right Out of Business

By Tom Irmen

No amount of advertising can outperform a well-thought out marketing strategy. I consistently observe companies throwing money at just about every advertising platform available without achieving the results or return on investment they had hoped for. They resemble sort of an “idea of the month” club with no long-term marketing strategy. Fortunately, this mistake can be corrected by, yes, implementing a well-thought out marketing strategy. And you’ll no doubt enjoy the savings that will result when your money stops chasing every advertising opportunity that presents itself.

One common error that I have observed even more recently is the total reliance that some small businesses, particularly start-ups, place on social media. Now don’t misunderstand – social media should be a component (an important one) of your overall marketing strategy. But to place your entire success on this single platform is a recipe for disaster. I know there are exceptions, but that’s all they are – exceptions.

There’s much more to the story, however, than the belief, or should we call it hope, that social media is the secret sauce to your ultimate success in business. Remember, hope is not a strategy.

When you drill down on just why small businesses, especially new businesses, place all of their chips on this single platform strategy, I find that it’s primarily financial in nature. The lack of capital needed to pursue other critical advertising platforms often forces entrepreneurs to hope against all the odds that social media can come to the rescue and get the job done.

Social media can and likely will play an important role in your well-thought out marketing strategy. But the likelihood that you will succeed entirely from your social media marketing efforts is a long shot at best. 

Is it possible to advertise yourself right out of business? Sadly, the answer is yes.

Leave a Reply