Marketing : Cost or Investment?Apr 20, 2021
What is marketing?
Marketing can be a principle, strategy, or tactic.
We use marketing to grow relationships with our clients.
To attract and acquire clients.
To appreciate and ascend clients.
To retain our clients and get them to refer their friends and family.
Here's the question:
When you see the Marketing line on your monthly Profit and Loss Statement, is it a cost or an investment?
Be honest with yourself.
If you see it as a cost, then marketing is an obligation.
Something you have to do.
And you will always try to reduce it, as you do with all costs.
If you see it as an investment, as I do, it is giving you a predictable return.
And you will always try to increase it, assuming the return is greater than your investment.
It is like the difference between a slot machine and a vending machine.
A slot machine is not predictable. At all.
And sit at it long enough, and it will cost you a lot of money.
A vending machine is predictable.
When you put your money in, you get a predictable return.
The whole key is to choose marketing that gives you the greatest return for the money you invest.
If you do this, you will always look for more money to invest.
Most of your competitors see Marketing as a cost.
Especially right now when times are tough, and cash flow is down.
When others zig.... you zag!
Go fishing in the rain when your competitors are more comfortable sitting at home.
That, my friend, is how you gobble up market share.
And rapidly grow your business.
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