How do you define your marketing budget? Do you view it as a business expense or an investment? The way in which you define it affects how you make decisions.
As an agency owner, I have regular conversations with business leaders about helping them to grow their business. We often discuss services like Digital Marketing and Content Marketing. These services come at a cost, and it’s common for people to see these as an expense versus viewing them as an investment that will pay for itself over and over again.
When you consider the impact that Digital and Content Marketing have in generating more leads that turn into paying customers, both are great investments to growing a business.
The value that they offer far outlive the period of time in which the service is consumed. So an investment today can mean a positive return for years to come.
Consider Content Marketing
There is certainly an investment in creating and publishing high quality relevant content that acts as an online magnet, drawing more of your target audience to your brand. The cost is realized at the time the content is created and shared, but the return on investment is experienced over the life of the content which may be consumed for months or even years.
A blog post for example, written with rich keywords to attract ideal prospects to your brand, creates short-term value when it is initially published on the website and promoted via social media, email and newsletters. But that content continues to work for you, acting as an online magnet pulling people in and increasing your search engine ranking for its lifetime.
Furthermore, as your target audience shares this content with their network via Twitter, LinkedIn Facebook and other social channels, the value continues to grow.
When considering services like Digital and Content Marketing, business owners who view these as an expense, will likely miss opportunities because they don’t have “money in the budget” or they can’t determine the ROI.
If instead, you consider the value the investment will bring the company over time, you will likely make a different decision and approach the investment with a positive mindset.
Investing in Marketing
The reality is that the advancements in technology are happening at such a fast pace, that many businesses struggle to keep pace or even stay in the game. If you continue to run the same marketing tactics you've used in the past, you'll likely miss big opporutnities.
Today’s buyers are going online to self-educate early in the buying process. They are no longer reliant on your sales team to inform them about your product or service. If you’re not publishing content that allows them to self-educate, your competitors are. Buyers will find a solution to their problem well before you even know who they are.
In fact, statistics show that consumers go through 75% of the buying process BEFORE you even know that they are in the market for your product or service. During that time they eliminate 50% of the vendors. If you are lucky enough to be found through their research, you’ll be even luckier to make it on their short list before they identify themselves. That's why investing in marketing strategies that help you be found online is critical.
To win in the future, you have to fundamentally evolve your go to market strategy. Think in years, not months and give yourself permission to view marketing as an investment rather than an expense.
In a year or three, you’ll be glad you did!
Contact us for a free consultation and learn how we can maximize your investment in content marketing!