As experienced marketers, we often see new companies or established businesses of all sizes with little or no internal marketing resources or experience that are laser-focused on cost when considering employing marketing to help them grow. The perception of marketing as purely a cost can really hamper the chances of success.
Go to Las Vegas with the idea that part of the cost will be losing money at the tables and you almost assuredly will. Rather than playing to win, you’re playing not to lose. Tell yourself you’re OK losing up to $500 on the trip, and $500 it will most often be. Might as well give the money to charity.
There’s a similar theme in marketing. If your company views marketing as a cost/expense, you will tend to act and make decisions from a losing perspective. You will most likely get underperforming strategy and tactics for your money, costing you real opportunities and ultimately, sales. Focusing on the lowest cost rather than the best opportunity can lower your return on investment (ROI) and that’s what should be the focus–maximizing the value of your marketing dollars.
View marketing as an investment (which it is) instead. You should expect a positive return on your investment that will continue to grow over time. Operating from this mindset you are far more likely to make forward-looking decisions and allocate/spend the dollars necessary to be successful–and be willing and happy to do it.
If your aim is to get something for nothing, you’re most likely to get nothing for something. And be frustrated and unhappy to boot.
As Winston Churchill said, “Fear is a reaction. Courage is a decision”. Don’t be afraid to invest in marketing. Have the courage to embrace it as an investment, hire an expert (like d.trio) to help guide your strategy, and reap the rewards.