Cisco Miami: Top 10 Reasons Solutions Providers Don’t Invest In Marketing
The VAR Guy just caught up with Larry Kesslin, president of 4 Profit, a consulting firm that serves solutions providers. Kesslin is hosting a marketing workshop here at the Cisco Velocity forum in Miami. And he served up a rather interesting list: The Top 10 Reasons Solutions Providers Don’t Invest In Marketing. Here’s a look at Kesslin’s countdown.
10. Claim: “We have no time to deal with it.” Reality: “I wouldn’t know what to do even if I had the time.”
9. Claim: “I can’t afford it.” Reality: “I don’t have have marketing budget so I rely on joint marketing funds/market development funds as my marketing.”
8. Claim: “I tried it before and it didn’t work.” Reality: “I had unrealistic expectations and wasn’t committed to the outcome.”
7. Claim: “The ROI won’t be fast enough.” Reality: “Should I take profits for myself or make a growth investment outside of my comfort zone?”
6. Claim: “We don ‘t have the staff to manage or implement marketing.” Reality: “No one on staff knows what good marketing looks like so we don’t explore it.”
5. Claim: “No one owns the process.” Reality: “It’s too much work for a staff that has limited expertise in this area.”
4.Claim: “Fear of the unknown.” Reality: “Fear of the unknown being a bust.”
3.Claim: “Uncertain of the message.” Reality: “We don’t have a clear value proposition ourselves.”
2.Claim: “The ROI is uncertain or unclear.” Reality: “How much will it cost and what is the real return?”
1. Claim: “What should we do first?” Reality: “We don’t know where to start, so we don’t.”
Kesslin’s company, 4 Profit, has noticed that there are three types of solutions providers in today’s market. The first involves “lifestyle business owners” who use the business primarily to enjoy life. When forced to make a financial decision, they’ll typically use money to maintain their own lifestyle rather than build their businesses.
The second type of company is a growth business, where entrepreneurs put money back into the business to grow it and nurture it. These types of entrepreneurs are more inclined to spend on marketing.
The third type of entrepreneur is in exit mode, and his or her entire strategy revolves around selling the company or exiting the business.
The VAR Guy will be back online with more observations from Cisco Velocity.