Is there something stopping us from spending on promotion?

Yes! Why don’t we? We never had to. Forty years ago everything we needed was on one street. Remember Davis Avenue, The Boulevard, Mt. Vernon Avenue and Main Street?

The harsh effects of Jim Crow caused Black folk to depend on each other for their goods and services. Very rarely did Black folk venture out beyond the safety of their own communities. Therefore, everyone knew where everyone was and what they had to offer. This was an advantage to the bottom line of Black owned businesses. No real advertising budget was ever needed. This turned out to be a true double-edged sword.

After the Civil Rights Act of 1964 took affect, conducting business in the black community took on a complexity never seen before. The mailboxes of Black consumers began to be bombarded with flyers and coupons advertising various sale prices at stores across town. It became very obvious; someone saw the advantages of advertising to consumers in the Black community.

As with the roll of the dice, there is another combination to consider. Investing and reinvesting must be learned by all of our business owners. Just as many of us exercise our faith on Sunday morning, we must sow our mustard seeds when it comes to our dollars Monday through Saturday. It doesn’t take much faith to go out and purchase the things you, your friend and neighbors can see with the proceeds of your labor.

Wearing the latest fashions, a Rolex watch or purchasing an SUV will not give you a return on investment. Bling Bling and Ballin are not cool; investments and retirement accounts are. The desire for immediate gratification has been the downfall of many individuals in our neighborhoods and society.

Creating an advertising budget and becoming a savvy investor of your advertising dollars will produce new customers, repeat business, a healthier bottom line and longevity in your chosen profession. In todays global economy, we can no longer use the same marketing strategies we did 40 years ago. Our client base is larger than the five mile radius surrounding our stores.

I’m reminded of what those wise and beautiful ancient ones said in church when I was a boy. “He may not come when you want Him, but Hes right on time!” So it is with success in advertising.