When Times Are Tough Dont Cut Marketing

Although on​ the​ books,​ marketing is​ an​ expense,​ it’s really not when you​ stop and think about it .​
What do you​ need to​ do to​ generate sales? you​ have to​ let people know what you​ do and what you​ can offer them .​
It’s called marketing .​
So when times are tough,​ why would you​ stop using your main resource outside of​ referrals to​ get more money in​ the​ company? With that in​ mind,​ forget what your accountant labels marketing as,​ you​ have to​ treat it​ as​ an​ investment.
Allow me to​ go further on​ the​ subject to​ clear it​ up .​
In accounting,​ sure,​ marketing is​ an​ expense .​
But here's what happens when marketing is​ viewed purely as​ an​ expense:
You think of​ marketing solely as​ an​ expense .​
When business gets slow,​ you​ cut marketing .​
Now you​ are letting less people know about your products and services .​

Results: you​ get even less business.
If you​ think of​ marketing only as​ an​ expense,​ the​ odds are,​ your marketing is​ nowhere near as​ effective as​ it​ could be.
Here’s how you​ think of​ marketing as​ an​ investment .​
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
When marketing is​ looked at​ as​ an​ investment,​ it​ is​ seen in​ a​ much different light .​
you​ start to​ require that it​ make money .​
you​ will begin to​ look for a​ return on​ investment .​

For example:
You view marketing as​ an​ investment .​
Every time you​ spend marketing dollars,​ you​ track how much business it​ brings .​
Now you​ can see what's working and what’s not .​

Try new things and get rid of​ methods that were working and now are not .​
Results: you​ get more sales and waste less money.
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 bottom line .​
Try it .​
It’s a​ little more work but I​ am sure it​ will pay off… and save your marketing budget.

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