Mari Luukkainen

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The "I need money for marketing to grow" trap

October 7, 2024
StartupsMarketing

One of the most common statements I hear from founders looking to scale is, "If I just had money for marketing, I could grow this business." At first glance, this seems like a reasonable ask - marketing requires investment, after all. But more often than not, the founders who make this statement haven’t done the groundwork to prove that marketing money will actually deliver results.

It’s a trap I see frequently, and here’s why: marketing is often seen as a quick fix that will solve all growth problems once it’s funded. The reality is far different.

What exactly will change?

When I ask founders what they would do with marketing funding, I usually get a broad response: "We’d do social media ads and work with influencers." This sounds fine in theory, but when I ask for details, the conversation often unravels.

Which influencers? Which platforms? What messaging will you use? What audience are you targeting?

It quickly becomes clear that these founders haven’t taken even the most basic steps toward validating their marketing strategies. They haven’t reached out to influencers. They haven’t tested any advertising messages. They haven’t even invested a small amount of their own money to see if their marketing ideas are grounded in reality.

Marketing isn't magic

Marketing isn’t some black box where you throw in investor money and expect growth. It’s a series of experiments that involve understanding your audience, testing messages, and learning what resonates. Founders should start small, with whatever resources they have, before seeking outside investment.

If you’re a founder who thinks that marketing dollars are your golden ticket, ask yourself: Have I invested even €50 of my own money into testing my message or my audience? Have I validated which platforms and channels work best for my business?

You don’t need large sums of money to start learning. Start with small experiments that can teach you valuable lessons about what works and what doesn’t. This knowledge becomes your foundation, so when the time comes to scale with real money, you’re not just hoping for results—you’re working from experience.

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