Post by juthi52943 on Dec 24, 2023 1:01:19 GMT -5
The thinking should not be about the cost of marketing, but about value. The first aspect to consider should be what success looks like (in terms of profits) and what investments are needed to get there. If you talk about social, digital, tactics and statistics before you've established what you're trying to achieve, you're getting nowhere. Marketing is the sum of the processes that connect an organization with its environment through value exchanges.
The value can lie in increased revenue, additional sales volumes , more effective ways of working that lead to savings and efficiency. If you assign a value to each activity and, of course, a way to measure and Job Function Email List report that value, you can demonstrate that allocating spend (I deliberately don't use the word budget) against that activity provides an incremental gain. Invest one euro in a business and get ten euros of value for the company.
Whatever the outcome for each item of spending you undertake, the important thing is to change the way the company views marketing. A thought before closing The main function of marketing is to facilitate sales. At its most basic, this is a question of value versus expense.A business leader and a marketing director need to work together to define what success looks like for a company – over 12 months, two years, five years – what impact it would have on the bottom line and what investments are needed to get there.
The value can lie in increased revenue, additional sales volumes , more effective ways of working that lead to savings and efficiency. If you assign a value to each activity and, of course, a way to measure and Job Function Email List report that value, you can demonstrate that allocating spend (I deliberately don't use the word budget) against that activity provides an incremental gain. Invest one euro in a business and get ten euros of value for the company.
Whatever the outcome for each item of spending you undertake, the important thing is to change the way the company views marketing. A thought before closing The main function of marketing is to facilitate sales. At its most basic, this is a question of value versus expense.A business leader and a marketing director need to work together to define what success looks like for a company – over 12 months, two years, five years – what impact it would have on the bottom line and what investments are needed to get there.