Although on the books, marketing is an expense, its really not when you stop and think about it. What do you need to do to generate sales? You have to let people know what you do and what you can offer them. Its called marketing.
So when times are tough, why would you stop using your main resource outside of referrals to get more money in the company? With that in mind, forget what your accountant labels marketing as, you have to treat it as an investment.
Allow me to go further on the subject to clear it up. In accounting, sure, marketing IS an expense. But here’s what happens when marketing is viewed purely as an expense:
You think of marketing solely as an expense. When business gets slow, you cut marketing. Now you are letting less people know about your products and services.
Results: You get even less business.
If you think of marketing only as an expense, the odds are, your marketing is nowhere near as effective as it could be.
Heres how you think of marketing as an investment. When you spend money and buy stock, that’s an expense AND an investment. When you buy a rental property, that’s an
expense...
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