Why Companies Don't Invest in Marketing ?
"Business is bad... We can't afford any help".
"Business is good... We don't need any help".
"We are good at what we do... We don't want any help".
No matter what a company's excuse is for not investing in Marketing, the reasons behind the excuse are usually the same. All too many executives don't understand the difference between marketing and sales. They consider marketing and communications programs are not vital to their selling process. They believe the only way to sell their products is the old fashioned way, with salesmanship selling face to face.
The company's management gets lost in fighting short-term fires. All too often executives find themselves without the time or resources to devote to long term marketing plans. Time spent on immediate operational problems takes away from the time that they should devote to planning for their company's future. The company's management develops a "shortsighted attitude" & do not see marketing as an investment.
All too often executives see marketing programs as an expense rather than an investment. They have a misconception with advertising. They also feel that each element of a marketing program should produce immediate results.
The company's management can't separate strategy and execution of marketing programs. So all too often executives get lost in discussing how they will carry out a program. They totally forget that someone developed a marketing program for a specific goal. And, analyzing how to carry out the individual steps of the program becomes more important to them than the program itself.
The company's management is also sometmes not bold enough & too often executives find themselves unable to decide what to do. They simply don't know how to go about developing and carrying out marketing programs. Their answer usually becomes "We'll wait and see what happens."
So, Ask yourself...
When business is bad, can I be bold enough to increase my sales and marketing budget? Would I tell my salesmen to get out of the office and travel more? And, can I invest in marketing activities for my company's future when cash is so scarce?
When business is good, do I have the foresight to reinvest my profits back into my company for future growth? Could I strengthen my long-term position?
When I am good at what I do, do I have the insight to admit there might be someone better? Would that person help and provide me with an objective viewpoint? Would I call upon that person to help me develop and carry out my marketing programs?