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Nike invested $4B+ in advertising in 2024, generating $51B+ in revenue.
However, smaller business owners claim they don’t need any marketing.
What?
I don’t mean to scare you but…
If even the biggest fitness brand worldwide invests in marketing, you should too.
But WHY do you think you shouldn’t?
Maybe you recognise yourself in one of these situations:
- You left a corporate job, and a large portion of the clients followed you to your new solo company.
- You have a large audience, built over the years, and get inbound leads almost effortlessly.
- Happy clients refer you to people often enough to never have to market yourself.
- You think marketing is for big corporations and doesn’t apply to your business.
Now, check the graphic.
This is for advertising only.
Imagine how big the bill for the overall marketing strategy was.
In 2014, they invested $3B.
In 10 years, Nike raised their advertising investment by 25%.
Despite being already famous and extremely profitable, they adjusted to the market change and invested more.
Do you still think you don’t need marketing?
Ask yourself this question: why did Nike decide to keep investing no matter how strong their brand is in the entire world?
To stay on top of the food chain.
Everyone in the world knows Nike.
But competitors exist for them too.
Look at what Gymshark is doing.
They want a portion of the same market and they want it bad.
(They reinvest 43% of their total revenue in marketing btw.)
Even companies like Nike have the same problems you have, just at a larger scale.
So the point here is not to invest $4B in marketing, but just to invest.
To shift your mindset from “I don’t need this” to “I want to stay on top of my clients' minds and pockets no matter what”.
Because getting the client is not enough.
What a business needs is to consistently attract buyers, retain them and make them so happy they will consider your brand at the top of their buying choices.
What makes you think your business can survive without marketing?