If you think of marketing merely as an expense, you won't get the maximum return on it, according to Bob DeStefano, a B2B online marketing strategist and professional marketing speaker, in 9 Marketing Ideas You Need to Embrace Now.
"Marketing is an investment that produces a measurable return in the form of qualified leads and bankable sales," says DeStefano, author of Old Dog, New Clicks: Online Industrial & B2B Know-How for the 21st Century. "Just as you would carefully review the return on investment for stocks, bonds and mutual funds in your retirement portfolio, carefully evaluate the return on investment in your company’s marketing portfolio."
Your marketing should produce measurable returns by helping you attract prospects or new customers, which is where most companies spend the majority of their marketing dollars and time. Unfortunately, it’s the most challenging and expensive result to achieve.
"It is much easier to sell to existing customers than it is to new ones, because you have already earned their trust and you have credibility," DeStefano says. "So, your marketing should also produce results by getting existing customers to: spend more, come back more often to buy from you and refer new business to you."
Read more marketing tips in 9 Marketing Ideas You Need to Embrace Now.
