Newsletter Vol. 24
May
16
1 tweet
Dear Reader,
When you ask many applicants what they want to do, most of them say they want to do “Marketing”. When I hear that I asked them to define marketing. Then they tell me “Advertisement Creation”, “Advertisement Placement”, “Search Engine Optimization”, “Social Media Campaigns” and so on. So I ask if they think “Marketing” is a revenue-generating function of the company? Most of them think so.
I tell them unless you are a big corporation which has a lot of money to burn, “Marketing” is an expense. I understand the purpose of “marketing” is to generate revenue, but there is no guarantee that the money you spend will generate any income. So for me, “Marketing” is an expense which needs to be justified not just by the gut feeling, but the bottom line.
So, when you do your “Marketing”, you need to keep track of how much you spend how much you get back. You start small and test the water. When you find a small marketing program that generates at least what it costs, you start increasing the budge. Anything you do that generates no return, terminate it immediately.
Do not hire any outside marketing specialists. Their job is to make you spend money. They make nothing if you do not spend. Remember “Marketing” is an expense not revenue by itself.
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