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Other Added - If Marketing is an Expense, Then You're Doing It Wrong
“When we are absorbed in anything we are unaware of time; and so it seems to pass quickly.” Magician Sam SharpeThis is part two of a two-part article that focuses on magicians and trainers. In Part One, we discovered that magicians and trainers have a number of similarities. We discovered
Company B thinks marketing is an investment. Every time they spend marketing dollars, they track how much business it brings. They see what's working, so they can do more of that. Results: They get more sales and waste less money.
You may market with newspaper ads, email newsletter ads, postcards and more. How do you know exactly which one is worki
Home stagers are cropping up all over the globe (though home staging has been around since the 1970's) and real estate agents need to get savvy so as not to get sued by their clients after selling their home for them.Home staging is the art of decorating a home to sell for top dollar and in the
They cut costs, all costs, even marketing costs. They say, "Marketing is an expense. We're cutting expenses. Period."
WHEN YOU THINK OF MARKETING AS AN EXPENSE
In accounting, sure, marketing IS an expense. But here's what happens when marketing is purely viewed as an expense:
Company A thinks of marketing solely as an expense. When busniness gets slow, Company A cuts marketing. They tell fewer prospective customers about their products. Results: They get even less business.
You might ask, "How can you suggest that marketing is something other than an expense? Of course it's an expense - it sure isn't income. I write it off my taxes every year. You bet it's an expense."
If you think of marketing only as an expense, the odds are, your marketing is nowhere near as effective as it could be.
There is another way of thinking about marketing. When you spend money and buy stock, that's an expense AND an investment.
When you buy a rental property, that's an expense AND an investment. (Whether they are good or poor investments is another subject.)
What would happen if you thought of your business marketing as an investment?
WHEN YOU TREAT MARKETING AS AN INVESTMENT
Something happens when you look at marketing as an investment. You start to require that it makes money. You will begin to look for a return on investment. For example:
Company B thinks marketing is an investment. Every time they spend marketing dollars, they track how much business it brings. They see what's working, so they can do more of that. Results: They get more sales and waste less money.
You may market with newspaper ads, email newsletter ads, postcards and more. How do you know exactly which one is workin
I can’t remember who’s idea it was. It may have been Glenn my business partner, or maybe me. If I had to lay a bet, I’d say it was our manager at the time, Gary. The doors to our business had been open for about three years and we thought that we need a spruce up at the front of the bu
You might ask, "How can you suggest that marketing is something other than an expense? Of course it's an expense - it sure isn't income. I write it off my taxes every year. You bet it's an expense."
If you think of marketing only as an expense, the odds are, your marketing is nowhere near as effective as it could be.
There is another way of thinking about marketing. When you spend money and buy stock, that's an expense AND an investment.
When you buy a rental property, that's an expense AND an investment. (Whether they are good or poor investments is another subject.)
What would happen if you thought of your business marketing as an investment?
WHEN YOU TREAT MARKETING AS AN INVESTMENT
Something happens when you look at marketing as an investment. You start to require that it makes money. You will begin to look for a return on investment. For example:
Company B thinks marketing is an investment. Every time they spend marketing dollars, they track how much business it brings. They see what's working, so they can do more of that. Results: They get more sales and waste less money.
You may market with newspaper ads, email newsletter ads, postcards and more. How do you know exactly which one is worki
A seasoned mechanic places his frequently-used tools in the top drawer of the toolbox. Make sure you stoke a supply of verbs in your Chief Marketer’s toolkit.As head of marketing for your small business, you will no doubt be charged with producing copy for your company’s marketing effort
If you think of marketing only as an expense, the odds are, your marketing is nowhere near as effective as it could be.
There is another way of thinking about marketing. When you spend money and buy stock, that's an expense AND an investment.
When you buy a rental property, that's an expense AND an investment. (Whether they are good or poor investments is another subject.)
What would happen if you thought of your business marketing as an investment?
WHEN YOU TREAT MARKETING AS AN INVESTMENT
Something happens when you look at marketing as an investment. You start to require that it makes money. You will begin to look for a return on investment. For example:
Company B thinks marketing is an investment. Every time they spend marketing dollars, they track how much business it brings. They see what's working, so they can do more of that. Results: They get more sales and waste less money.
You may market with newspaper ads, email newsletter ads, postcards and more. How do you know exactly which one is worki
What should we do after joining affiliate program? People are interested in joining affiliate program, but never know how to manage their network. New comers just join and success to build list, but failed to gain dollars. Why do this happen? How do you find solution? The answered, you should learn th
What would happen if you thought of your business marketing as an investment?
WHEN YOU TREAT MARKETING AS AN INVESTMENT
Something happens when you look at marketing as an investment. You start to require that it makes money. You will begin to look for a return on investment. For example:
Company B thinks marketing is an investment. Every time they spend marketing dollars, they track how much business it brings. They see what's working, so they can do more of that. Results: They get more sales and waste less money.
You may market with newspaper ads, email newsletter ads, postcards and more. How do you know exactly which one is worki
An Internet merchant account permits merchants to accept payment for their services over the Internet. Once a merchant has decided to accept credit cards over the Internet, he must obtain a payment gateway or a virtual terminal, and a bank or a processor, to process the credit card transactions.
Company B thinks marketing is an investment. Every time they spend marketing dollars, they track how much business it brings. They see what's working, so they can do more of that. Results: They get more sales and waste less money.
You may market with newspaper ads, email newsletter ads, postcards and more. How do you know exactly which one is working?
HOW TO KNOW WHAT WORKS
You don't need to put in a lot of time to find out what works. Notice how other businesses track their response.
Every time you see a commercial that says "Mention this ad for a free gift," they are tracking how well that ad works.
Every coupon you see is a way for a company to track an ad. Every time someone asks, "How did you hear about us?" they are tracking what works.
When your marketing is an investment instead of just another expense, you'll hold it accountable. It's a small but important change in viewpoint that can add to your bottomline.
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