Let’s be honest, many business owners see marketing as an expense. The truth is that marketing is an expense if you do it wrong, and there are many different ways of doing it wrong. To keep it simple, doing it wrong basically means spending money without first establishing clear and measurable objectives, hiring the wrong people or agency, expecting results right away, not testing and having a negative mindset towards marketing in general.
However, if you do it right, marketing is basically an investment in your company’s growth. By doing it right we mean the following amongst other things:
- Start with SMART (specific, measurable, actionable, realistic and time-bound) objectives.
- Work with the right people/agency (contact us if you’re looking for Digital Marketing experts to help you invest in your marketing).
- Use data as much as you can, it will make you more effective.
- Understand important metrics such as customer lifetime value and ad spend.
- Test, test and test some more.
- Take the insights you generate from all your marketing activities and use them to improve products and make better business decisions.
Caya (someone we admire) from Slidebean explains this well in the video below.