Small Business Marketing Sanity Check
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I spoke to a prospective client yesterday about their marketing strategies to date - which consisted primarily of ads in the local paper. Their average monthly spend was around £500 ($900+), not an inconsiderable sum for a small business.
I asked two questions:
How have you been keeping tabs on the returns from that?Â
How much business comes in from it?
I got two answers:
“We ask some people.” and “I’m not sure. We’ve just always done it.”
If you’re going to spend money on marketing your business you need to track it as best you can and make sure you’re getting you money’s worth. If you get a positive return on investment do more of it. If you lose money on it - stop it or change it.
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