As a business it is important to understand when to, and when not to spend money. There are all kinds of routes which you can go down in terms of investment and it is not always easy to weigh up whether it is worthwhile. One such area of your business which cannot be shirked on is when it comes to advertising and marketing your business. We spoke to advertising guru Joseph Cianciotto about exactly why advertising investment is worth the effort and the outlay.
At the very basis of marketing is the desire to promote your company to new clients and customers as well as growing the name of your brand and your company image. With so much competition across so many industries these days, marketing also serves to get you one step ahead of your competition. If you have not invested in a strong marketing strategy then you can bet your bottom dollar that your competition has and in order to keep up with them you should turn your attention to marketing.
The real reason why marketing is performed is simply put, to drive sales to your business through the promotion of your products and services to new and existing clients. Marketing is also the best way to create a brand for yourself which will help towards to the longevity of your firm and will ensure that your brand and business is trusted amongst its consumers.
Investment Over Cost
When we talk about spending money as a business, one of the key areas of concern is whether it is going to be a worthy cost by way of return on investment. A smart and sensible marketing strategy will give you exactly that and ensure that any money which you do throw at it, will come in spades by way of sales for you and your company. The beauty of marketing too is that it can, more or less, be measured so that you can see exactly what kind of uplift you are receiving on the various marketing techniques which have been implemented.
Ease of Use
In the past, marketing used methods such as TV advertising, newspaper ads, radio jingles, posters and fliers and whilst they were effective, businesses had to this on a large scale to gain any real traction. In today’s world, digital marketing has completely altered the landscape of marketing and just a small social media campaign for example can now reach hundreds of thousands of people in one fell swoop. Because of this level of ease with which marketing companies can reach the masses, it makes more sense than ever that you are investing in a marketing plan and you now have a higher probability of success.
Make sure that when you do your company’s budget that you are including marketing as a key part of how you spend money, the benefits far outweigh any financial risk which you may be taking.