I recently joined a chat of entrepreneurs and a person brought up the topic of business growth. Specifically, she said that someone who is not willing to spend money on advertising to grow a business is not an entrepreneur.
Facebook is in hot water right now. After the Cambridge Analytica scandal, which uncovered that the data of as many as 90 million people was shared without their permission, calls for changes in management have been common as well as a #deleteFacebook campaign that has been supported by well known technologists like Steve Wozniak and the founder of Whatsapp.
Though we are fairly well into the internet economy where brands can communicate directly with customers in a variety of ways through social networks, one belief from the old order still holds true: incumbent brands believe that in order to win the hearts and minds of customers, that they can out-market upstarts that gain loyalty through the great products and services they deliver.
There are only a handful of companies that can both make great products and advertising. We continually marvel at products and services from visionary companies like Apple, Google, Uber and others who gain our loyalty the product and service excellence; you can actually feel their dedication. …
A typical marketing and sales person recently asked me why I don’t place ads on my blog to generate additional revenue. Being that this blog gets between 6K – 9K visits/month, I’m in a very good position to do so (I have gotten requests from companies to place ads). But, I don’t want to place ads.
I simply don’t like advertising. And, generating revenue from ads is not a narrative I want to be a part of.
When he heard my response, he thought I was crazy. In his own words: that is not smart.…