Most companies ask themselves this question: “How much will this advertising cost us?” when they should actually be asking themselves this: “How much will it cost not to do this advertising?”
If your company spends $1000 per week on marketing then you could save $1000 per week by not doing any marketing. That is true but it is the simple and shortsighted view of the situation. However, if the revenue generated from that marketing is $1010 you have actually just lost $10 by not doing it.
Most times the margin is not that slim. We generally bring in around 10 times what we spend in any given week. That means for every $1000 we spend on marketing we bring in $10,000. If we decided that we were only going to spend half of what we were normally spending we would automatically save half of our budget. That is great but we would likely lose up to half of our weekly sales income. In trying to save half our budget we actually lost 9 times that amount.
It all comes back to your Return On Investment. Thats the ROI I am always talking about. If you only make what you spend on your marketing it is not doing its job. The money that you spend on...
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