Marketing is rather an investment than a cost! If you are analyzing marketing through finance and accounting, you might identify it as a cost. However, as a marketer, I view marketing as an investment.
In no way, I’m denying that some marketing activities require spending. For example, you need to pay for advertising space. Consequently, advertising is a tool that will permit you to communicate with your target audience and obtain feedback. Also, ads can be a key driver to promote sales and profit.
The amount you budget for marketing will affect your development and profitability.
Throughout the years, I have learned to appreciate Marketing as the most significant aspect of service/product development. Why? Because it is the most important business investment that you will make as an entrepreneur or company. The amount you budget for marketing will affect your development and profitability.
As a creator, you should always be ready for marketing budget conversation. Most of the indie creators that I know are afraid to spend money on marketing–specifically promotion and advertising–because they do not have a clear marketing plan. They need to understand that an ad on google or on the train/bus can create amazing promotional values, as long as there is a defined plan.
Generally, you need purpose for a budget. If you are employing an amazing plan with determined goals, then your spending on marketing will result in great ROMI (Return On Marketing Investment), which does not have to be monetary at the beginning.
Always look into the long run because short term plans are what gets you there.
Always look into the long run because short term plans are what gets you there. Once you can focus on gaining, your marketing activities can provide you with long term benefit such as brand assets, brand recognition and financial growth.
Throughout my years of pursuing the entrepreneurial lifestyle, I have managed to help a lot of indie creators formulate great marketing plans. However, most of them are hesitant to create a budget for advertising, which is crucial for brand awareness and social media development.
Because I know the value of digital advertising, I have even gone as far as investing resources to illustrate to them [creators]. Unfortunately, most of them talk about they want to get organic views, which I do not object unless you don’t want to reach millions of people on earth. If you are not a using digital adverting, especially as a young creator, you are denying yourself of an amazing power.
Sometimes, you need a buzz to get you going. So, don’t stop pushing and creating amazing contents.
To all indie creators, understand that you don’t need a million-dollar budget to run an effective marketing campaign. Social Media is at your fingertip and if you need help, you have to consult the experts.
There forth, don’t treat marketing as a cost because it is a significant business investment. How much you spend on marketing will dictate how well your brand develops and how much you profit. I am hoping that you as indie creators can understand that marketing is the most important aspect of your brand development and you need to budget for it. Everyday, I play this into my head so that I can always invest into myself, whether through learner or monetary investments.
In a lifetime, marketing can allow you to understand the value of your targeted audience, which will guide you to align its value with your own core values. In reference to branding, having a marketing budget will help you better deliver your business strategy and the goals that you set for your business.
What is your perspective? Please leave a comment! If you need help figuring out a budget for a marketing campaign, please contact us.