As a small to medium-sized firm you are up, day after day, against established players that have more resources, more brand, customers, references. It is the story of David versus Goliath. That is the story that makes entrepreneurship exciting.
So the question is how do you beat Goliath? And it’s not through the better product, because no one knows about your services or product at the beginning. When you start, no one knows you. No one knows your name. So, you’ve got to break through the noise, you’ve got to break through everything your competitors are doing.
How do you do that? Marketing.
People tell me regularly that they don’t have time for marketing, that’s basically like saying:
- I don’t have time to win customers.
- I don’t have time to build a successful business.
- I don’t have time to really get known in the marketplace and increase my position and branding of it.
Yipes that’s a little harsh! Let’s back up for just a moment. Here is what we know about sales in the retirement plan world: