As a local business owner, do you consider your marketing spend an expense or an investment?
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My approach to marketing is that is in an investment.
However, I have found that my "investments" have had a very poor ROI. So at this point, I am considering the thousands of dollars I have spent as a business expense/loss.
Trying to find the right approach and balance to marketing our services.
Hope this helps.
However, I have found that my "investments" have had a very poor ROI. So at this point, I am considering the thousands of dollars I have spent as a business expense/loss.
Trying to find the right approach and balance to marketing our services.
Hope this helps.
1 Reply
Kevan K
from INF Studios
Thanks for your thoughts and insight!
It is a great point you make. Some investments in marketing are not going to work, therefore they have to be accounted for as a loss. Just like any investment, though there are going to be wins and losses. Losses become expenses.
Diversification of your tactics and service providers could help buffer any losses.
Measurement methods also become key to make sure you are able to spot potential losses and cut them off before they become significant. This also allows you to identify what is working and double-down on that as well.
I also agree it is about finding the right balance of marketing services.
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