It’s not uncommon for business owners to peruse their expense reports, looking for the answer to: “Where did all the money go!?”
And when your accountant points to a large slice of pie labeled “marketing,” you certainly wouldn’t be the first entrepreneur to say, “Ah-ha! That’s where we need to make cuts!”
And we get it. It makes sense. It’s labeled an “expense.”
But remember: Marketing is never an expense. It’s an investment.
The primary purpose of marketing is to help you reach your business goals. All of them.
Many entrepreneurs make the mistake of allocating their marketing budget to short-term tactics for a singular goal of “get more customers.”
And marketing does that…but it also does more, including:
- Building brand trust
- Creating connections and leads
- Reaching your perfect-fit clients/customers
- Ensuring your brand remains top of mind
Marketing only becomes an expense when it is entirely unsuccessful in moving the needle forward. So how can you balance the expense of marketing with its return on investment?
Get a marketing strategy in place. Re-evaluate how your current marketing efforts support your strategy. Because your marketing can go from “expense” to “investment” with the right strategy. As it rightfully should.
Calculate your ideal 2022 marketing budget
Here is a tool we’ve found useful:
Get better marketing help‒ from the experts who work with an owner mindset
“The way we’ve always done it” is no longer working? It feels like you’ve hit a brick wall?
You know you have what people need and want, but it’s finally happened anyway.
Now you’re starting to realize you need help to turn revenue plateaus into staircases and finally start hitting those elusive ROI targets. To do that, you need clear next steps, a fresh perspective, and results you can repeat time and time again.
At yorCMO we see an opportunity to help businesses that are struggling to align marketing and sales with their goals and objectives. The marketing strategies our Fractional CMO’s develop and execute help close this knowledge and performance gap. Our clients gain clarity into their marketing initiatives while producing more leads, sales, and revenue for their business.
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