Cheap Marketing Can Be the Most Expensive Part of Your Business
I coach a lot of business owners, almost without fail that business owner is "trying to save money" by finding cheap marketing. He'll tell me he's looking for the most economic marketing Coach Outlet Online, however, he's probably found the most expensive way to market. For the more successful businesses they are carefully choosing where they spend their money, but in a different way.
When Does Cutting Out a Dollar of Expense Actually Cost you $10?
The focus of most "struggling businesses" is how to keep expenses down by cutting expenses http://coachoutlet.altervista.org/, but successful businesses look for the Return on Investment and then spend where it generates the most. They are looking for where to spend that makes the most in return.
Cutting frequently saves a buck, but finding the ROI frequently generates 10 times that buck, or 100 times. And even more frequently when a business owner cuts a buck it's a buck that would have generated the 10 times Coach Outlet, so it wasn't $1 they cut, but $10.
A struggling business frequently doesn't have a clue which marketing is working nor how well cheap coach bags, so when things get tough they just cut, and it's very likely a dollar that was generating several times more. In this case cut a dollar, lose $10 for every dollar cut.
Frequently looking for "cheap marketing" by what does the marketing materials cost doesn't result in truly "cheap marketing", it becomes expensieve marketing.
A successful business owner is asking himself "how many new clients do I want to buy today." And then doing it.
I can hear the comments in the low roar that generated.
Yes, I know that some small struggling businesses believe they just "don't have the money" so they have to watch their pennies. And I know you aren't a McDonald's that spends $4B a year placing a "Golden Arch" on every billboard around the country. In fact, you MUST SPEND your money more carefully, but you must spend where you get the greatest return for your investment. The words you MUST SPEND for the Greatest Return are critical.
Another phrase that I said a paragraph or two ago that's also critical is, a successful business owner asks himself "how many new clients will I buy today." He isn't asking "how much can I avoid spending on marketing today." However, that is what most small business owners are doing when they say they've got to cut some expenses and marketing gets cut.
At the worst time of their business, and of the recession, when they need more clients to pay the bills, they are cutting marketing expenses instead of "buying more clients." Of course, it's also important to know how to make thta dollar spent give you the biggest return. Spending a dollar that generates less than a $1 isn't the right thing to do either. But that's a simple fix. Improve the marketing message that that marketing multiplier will go way up.
The True Cost of Marketing Is "The Cost to Acquire a Lead coach factory outlet, or to Acquire a Client."
Get this critical statement, "It isn't what marketing costs you to buy the marketing material, or to pay someone to do your marketing that counts.. It's how much does it cost to acquire a new client that matters." It's also how many dollars are generated in sales for every dollar spent in marketing that matters.http://coachoutlet.altervista.org/ :
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