Today’s business market is an extremely competitive place. More businesses enter the fray all the time: for the past ten years, more than 750,000 new startups have sprung into existence across North America. Unfortunately, over 60 percent of new businesses fail in the first four years.
Why do they fail? According to a study performed by the U.S. Department of Commerce, there are three main reasons startup businesses fold:
- Lack of financial planning
- Poor sales skills
- Poorly planned and executed marketing
Creative marketing addresses all three of these concerns. It is one of the most successful marketing methods available, and since it is low-cost and high-impact you won’t need a huge advertising budget to take advantage of this powerful strategy.