By Michael Dunham
Oftentimes, as a business owner or marketing manager, you will look at various marketing ventures with the objective of figuring out what strategies to implore that will get you maximum results for a certain price. We think about how much business we can generate, or need to generate, if we invest x dollars in a marketing strategy.
What many marketers do not look at is the opportunity cost of not investing in a certain strategy or putting off that strategy until “business picks up.” Anyone who runs a business has probably caught themselves saying they would invest when they got more business, not thinking about the redundancy in the statement. By delaying a profitable marketing venture now for other strategies or because you don’t want to be too invested in marketing, you are actually costing your business more money than you are saving.
As the great Henry Ford once said, “A…
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