I have met many individuals, and companies that are concerned with the expense of a marketing campaign. While I can understand the need to monitor cash flow; and its importance; it is not the correct “frame of mind” while talking about marketing strategies.
Recently I met with an individual that wanted to increase his sales. He had a goal in mind and asked me if it was feasible. The answer was “yes” it is feasible, although when he started to think about the cost involved he decided not to pursue the marketing. He viewed the marketing required to increase his sales as an expense and not as an investment.
What he asked was attainable, it required some things to change with his pricing structure, his landing page, and some other items .. but was feasible. I was never able to find out why he didn’t pursue his goal – although I believe it was the upfront cost involved with developing the campaign. He was judging if the campaign was going to be a success – solely by its expense – even before we had the strategy finalized.
The only real way of judging a marketing campaigns success stems from the profits it generates. That is the ultimate goal of any marketing campaign, making a profit. We judge the success by how much profit we made in relation to how much the marketing cost (return on investment). We can only perform that measurement after the fact though and worrying about the cost before we even launch the campaign; or in the previous case generate a strategy; will hinder the marketing campaign and lower return on investment.
Please keep in mind that there will be costs involved in any marketing campaign. The costs are generated through the time and money required to develop, produce, and implement the marketing campaign. In addition, marketing happens over time; it is not a magic wand that can be waived to increase sales. If you are expecting instant or near instant results you will be disappointed.
To have the greatest chance of success you need to keep the end goal in sight or you will scrap your idea before it even gets going. That is why it is important to think of marketing as an investment in your business, and not just an expense. It is a different “frame of mind” and will assist in putting things in perspective.
