How much does marketing cost?

Marketing cost?

Speaking with a potential client I was asked the question “When I invest in your help, how much more will you want me to spend on ‘doing’ my marketing?”

It was a great question, because many business people look at marketing and think they have to throw money at it.  They don’t.

Now, let me be clear here … if you decide a new website is needed, Pay Per Click, Social Media Ads, Exhibitions and so on … well then that can certainly mount up.  However, what you are trying to achieve has to be in line with your objectives and I always begin at the beginning.

This is what I mean.  Beginning with the low cost and no cost strategies you can increase your returns, sometimes dramatically.

Your proposals for example, how well are they converting, what do your numbers say?  Let’s say you’re converting 2 in 10, and just by changing the way they’re written and presented you can improve the way in which you educate, and therefore influence, your prospect.  You could make that 2.5 in 10 and instantly you’ve just increased your business by 25% … and for what cost?

It isn’t all about getting more leads, you have to look deeper and remember that everything and anything that interfaces with your prospective, existing or past clients, is marketing.  How you answer the phone, your conversion strategy, your pricing strategy, your website strategy, your content, calls to action and so on and so forth.

When I’m working with businesses for whom budget is not the key issue – I do exactly the same thing, work on the low cost/no cost processes first.  You can then decide whether the additional profit generated should be used in other areas where an investment is needed.