We know that to grow our business we need to market effectively to generate new customers, however, as soon as business slows, one of the first things to go is the marketing budget! Why is that?
One of the main reasons for the marketing budget being cut as soon as money becomes a little tighter is because very few business owners actually understand whether their marketing is working for them or not. Unfortunately, some professionals, such as accountants and bank managers will often tell business owners that their marketing is an expense and when cash flow becomes tight, they recommend that expenses are cut.
What if we could really understand our marketing strategies and be able to measure them in such a way that we knew with certainty which strategies were generating excellent leads that are in turn generating profitable sales. When our marketing budget generates profitable sales regularly, then our marketing budget stops being an expense and becomes an investment.
So where do we start to convert our marketing budget from an expense into an investment?
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