Rebroadcast Ep 14 – Budgets are for marketing that doesn’t work
The Marketing Drive
Short marketing message that you can use right now!
Welcome to Episode 14 of The Marketing Drive with Chris Doelle.
This show is so named because I record it unscripted and unedited on my commute to work. When an idea pops in my head, I hit record. You get my off-the-cuff take on anything related to marketing your business. Be sure to send your show ideas and questions and I will use them for future shows!
A budget is often used as an excuse to salespeople, but in the end all that matters is your rate of return on your marketing dollars!
Press play to listen:
Today, I wanna focus on some of your perceptions or beliefs in marketing and I wanna poke some holes in them. Let’s talk about the budget. Everybody says budget spent for this year or I budget 10% or 15% or 5% whatever your budget says, you budget for marketing and to my way of thinking, a marketing budget, you need to be able to try things and estimate things but at the end of the day, a budget is really for people whose marketing doesn’t work real well because think about this, if you could invest a thousand dollars on that something, and you knew in 690 days that would get you 1500 or 3000 or 6000, wouldn’t you say, oh I don’t need this budget thing, I wanna put everything humanly possible into that channel because it has a great rate of return, so think about that when you’re putting your budget together. The reason people come up with a budget rather than do some things and try some things is because of fear. They fear that, it’s gonna be a waste of money whatever they invest in and you know the key to that is try small but try and more important than anything else is track. Keep track of everything, keep track of when you spend 50 cents in a marketing venture, you better be tracking everybody who comes in that door, everybody who calls you, everybody who shoots an email. You better be tracking where they found out about you and which marketing channel actually created that. The other thing I want to talk about a little bit is the difference between marketing and sales. People get these 2 confused so much and I think the best analogy I can think of is, sales is what you do when you’re on the phone with somebody, or you have a presentation or a pitch to a client, that’s sales. Marketing that drives people to that phone call, drives people to walk in that door, drives people to fill out that form on your website, that’s marketing. So, be clear on it, Don’t get it confused with sales. Sales is one of the most important skill set that you can have and if you don’t have it, you better hire somebody who has it because you could be the best marketer in the world but if you don’t close the deals when they come in, you’re wasting a lot of money. So marketing gets a bad wrap there, too, sometimes, or vice versa. Sales would get a bad wrap because marketing sets the wrong message or sends people in there with expectations that he salesman really cannot fail. So those have to work hand in hand and they both have to be at the top of their game. If you don’t have, if you are not an excellent marketer, if you are not an amazing salesman, hire both of those. Outsource your marketing, outsource your sales, there are ways to do that or hire and have them in house. So to wrap it up, put a ball on it, track everything. Put everything into the highest producing channels and keep working it. Make sure that you have excellent marketing and excellent sales. I’m trusting the fact, that when your marketing does its job, your sales does its job, you can fulfill, because, it can ultimately, whether or not, your company survives, could you handle a 100 fold increase in business, could you handle a 1000 fold increase in business? Those of the systems are your ability to deliver. That’s a whole other issue.
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