I recently saw a Facebook post asking “what is your least favorite business expense?”. I was quickly reminded at how many hundreds and thousands of businesses in America look at advertising and marketing as just a budget line item.
How do you think about advertising and marketing in your business?
Do you look at it as something you have to do? So, you just look at around at your neighbors and end up doing what they are doing – you throw up a Billboard, participate in that newspaper ad promoting the local golf tournament, and call it a year?
And I bet in your head you have a budget on how much you are willing to spend on advertising and marketing, but you DON’T really put too much thought into how that expense effects your business besides how frustrating it is that you are spending money.
The funny thing is, if businesses just change the mindset of turning advertising and marketing from a budget line expense to an investment and an opportunity to actually make more money, how their bottom line would increase. And the new frustrating thing for them would be the annoyance of the extra taxes they’re paying on their new increased profit and having to hire to keep up with the increased business.
My question for you today is… What is your favorite way to market and advertise? And why?