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Cheap Marketing Works? The High Cost of Cutting Corners [Ep. 51]
Manage episode 448441650 series 3523921
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In today’s episode, Laura and Julia share five strategies to employ when considering the cost-quality question of your marketing. Our hosts discuss the benefits of hiring the experts, avoiding costly mistakes, focusing on ROI, and frankly considering value gained over funds spent. We know you want to be smart about your budgeting — listen in to learn how best to invest your marketing dollars.
Takeaways:
1 - The many elements that make up an effective and trustworthy marketing plan, such as data, time, expertise and plans from strategists, can rarely be cultivated or found cheaply.
2 - Make your marketing decisions with the long-term in mind — consider options that are specific, targeted and strategy oriented, rather than task oriented.
3 - Return On Investment metrics will allow you to identify which marketing strategies are performing best with your chosen audience, and which are stable and long-lasting.
4 - You have to spend money to make money — and if you don’t, you may end up paying anyway in the form of lost profits.
5 - Hiring experts to consult on important marketing decisions helps you avoid pitfalls and traps characteristic of cheap or under-informed marketing.
Today’s Resource Recommendations:
5:13 - Episode 50, focused on websites and online presence (https://youtu.be/35E_PjNVX5E)
5:25 - Google Analytics is a great way to track your business and professional data. (https://developers.google.com/analytics)
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Chapters:
00:00 - Introduction: How “cheap marketing” works.
06:56 - Suggestion #1: Consider value over cost.
12:14 - Suggestion #2: Practice long-term thinking
15:08 - Suggestion #3: Focus on ROI
17:45 - Suggestion #4: Avoid hidden costs!
20:47 - Suggestion #5: Hire the experts!
23:58 - Conclusion
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