There are probably a gazillion myths, excuses, and reasons why tech consulting firms ignore or disregard creating marketing plans. Most are junk!

This thinking is rooted in the fact that most small businesses grow organically, leveraging their reputation and referrals to gain customers and book new business.

That’s all well and good until they hit the growth button – and have no way to activate customer acquisition.

That’s why you need to bust these marketing planning myths and construct a comprehensive marketing plan.

Myth 1: Plans aren’t necessary.

(AKA – we get business from our existing customers)

Busting the Myth: Marketing plans are essential for planning, strategizing, and setting budgets. They facilitate business growth (firms with marketing plans achieve 46% year-over-year revenue growth compared to only 12% growth for those without a plan). In addition, marketing plans mitigate risk (e.g., revenue concentration).

Myth 2: We don’t need a “brand.”

(AKA – we’re whatever anyone wants us to be)

Busting the Myth: Whether you acknowledge it or not, you have a brand. And that brand is recognized. Brand and brand-building activities are critical. Tech consulting firms with established brands achieve a 23% price premium for their services compared to competitors.

Myth 3: Planning takes too much time and effort.

(AKA – it’s not worth the effort)

Busting the Myth: “Too much time” is subjective. Average tech consulting firms spend approximately 100 hours developing marketing plans. Their results are probably average, too. However, companies spending about 300% more (300 hours) on yearly marketing planning are reported to be the fastest-growing firms. Which way would you like to be classified: average or fast-growing? Planning your investments can make a difference.

Myth 4: We have a website; we don’t need a marketing plan.

(AKA – I’m not really sure what marketing is)

Busting the Myth: A website alone is only a fraction of the marketing effort you need to ignite substantial growth. IDC reports that 90% of potential buyers of tech services want educational articles, case studies, and other information before they engage.  

Myth 5: Content doesn’t matter so we don’t need a plan.

(AKA – No one reads our blog)

Busting the Myth: Some company leaders believe their customers don’t care about thought leadership or education. Building on the point above, content like case studies, technical details, and thought leadership material is vital to attracting, engaging, and developing new prospects.

The data doesn’t lie – embracing these detrimental myths severely hinders tech consulting firm growth. By busting myths and assumptions with facts, leaders set their businesses up for success.