Good Marketing Pays For Itself

Good Marketing Pays For Itself

Good Marketing Pays for Itself
Most companies ask themselves this question: How much will this advertising cost us? when they should actually be asking themselves this: How much will it​ cost not to​ do this advertising?
If your company spends $1000 per week on​ marketing then you​ could save $1000 per week by not doing any marketing .​
That is​ true but it​ is​ the​ simple and shortsighted view of​ the​ situation .​
However,​ if​ the​ revenue generated from that marketing is​ $1010 you​ have actually just lost $10 by not doing it.
Most times the​ margin is​ not that slim .​
We generally bring in​ around 10 times what we spend in​ any given week .​
That means for every $1000 we spend on​ marketing we bring in​ $10,​000 .​
If we decided that we were only going to​ spend half of​ what we were normally spending we would automatically save half of​ our budget .​
That is​ great but we would likely lose up to​ half of​ our weekly sales income .​
In trying to​ save half our budget we actually lost 9 times that amount.
It all comes back to​ your Return on​ Investment .​
That’s the​ ROI I​ am always talking about .​
If you​ only make what you​ spend on​ your marketing it​ is​ not doing its job .​
The money that you​ spend on​ your marketing is​ your investment .​
The money you​ bring in​ on​ sales is​ the​ Return on​ that Investment .​
That is​ why your ROI is​ the​ most important statistic to​ consider when trying to​ divide up your marketing budget .​
Putting more money into a​ marketing strategy that has a​ higher ROI doesn’t cost you​ more money,​ it​ makes you​ more money .​
Saving money by lowering your marketing budget doesn’t sound so enticing when you​ think about it​ that way .​
Unfortunately many businesses cut their marketing budget first when trying to​ stay afloat during slow periods .​
They are actually hastening their downfall.
You have heard it​ time and time again,​ It takes money to​ make money .​
It is​ as​ true today as​ it​ ever has been .​
You have a​ good product or​ service,​ you​ run your business well,​ the​ only thing that you​ need is​ good marketing and that will eventually pay for itself.
Perhaps by now you​ are convinced that you​ need to​ spend some money on​ promoting your business .​

Maybe you​ are still stopped by the​ big question,​ How? What do you​ really need to​ know,​ and how can you​ actually make it​ work?
Let’s start with the​ Basic Principles of​ promotion .​

What is​ Promotion?
Promotion n. Anything,​ as​ advertising,​ public appearances,​ etc.,​ done to​ publicize (get the​ attention or​ interest of​ the​ public) a​ person,​ product,​ event,​ etc .​
The New Webster’s Concise Dictionary2003 Encyclopedic Edition
Why do you​ promote?
The purpose of​ promotion is​ to​ bring in​ more business and enlarge your customer base .​
Always try to​ bring in​ as​ much business as​ you​ can .​
It sounds like an​ obvious thing to​ say but many people still don’t follow this rule .​
Don’t assume any number of​ new customers will be too much for you​ to​ handle .​
If you​ have that much business you​ can always bring on​ temporary or​ temp-to-permanent staff to​ handle the​ work load.
How do you​ promote?
There are more ways than you​ would ever think .​
Have you​ ever heard someone say,​ I​ never promote and I​ am always busy OR I​ don’t have to​ promote,​ all my business comes from word-of-mouth? They may not be aware of​ how they’re doing it,​ but I​ promise you​ they are promoting somewhere .​
Maybe they just go around telling everyone they talk to,​ that they don’t promote .​
(Sound funny? It’s still promoting.) Maybe their canary yellow window ledge with the​ bright red apples on​ the​ shelf behind it​ attracts so much attention that they don’t need to​ do anything else .​
Well here are some ideas you​ can do knowingly to​ drive in​ the​ business.
Every action that every member of​ your staff engages in​ is​ promotion .​
Whether good or​ bad every action is​ giving someone an​ impression of​ how your company is​ or​ does business .​
Here are a​ few examples.
a) Greeting your customers with a​ smile is​ a​ great place to​ start.
b) Calling your customers after they have had a​ chance to​ use your product is​ a​ good way to​ promote that you​ care about their experience with your organization .​
It can also create an​ opportunity to​ make more sales.
c) a​ neatly packaged product,​ the​ shipping label on​ straight,​ promotes that you​ take pride in​ what you​ do.
d) Always keep updated brochures or​ catalogs in​ your reception area for people to​ see and take with them.
d) If you​ have customers coming into your business,​ make sure they are greeted pleasantly,​ professionally,​ and immediately.
I suggest you​ sit down and write out all the​ things that your company actually does to​ promote using the​ above definition .​
Sit down with your staff and do a​ pow wow .​
Not only will it​ bring you​ all closer together and going for the​ same goal,​ it​ will open your eyes as​ to​ all the​ ways you​ can make your business well thought of.
Every little detail counts .​
Thanks for reading and good luck.

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