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F F | How can we control the marketing costs of a business? |
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ConsultingCurious
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Three elements related to marking in a business are
1. Lead generation
2. Lead conversions &
3. Lead retention
If one introduces innovative approaches for each of the elements to ensure higher results at optimal costs, one can achieve the results at minimal costs.
By innovation, I do not mean any costly research or costly compaigns. One can innovate through simple ideas. There are a number of inexpensive or no-cost innovations, that can generate a good number of leads as well as in lead conversion and lead retention.
Quantifiacation helps a lot in controlling of the costs also. Because then one knows which is the right direction for the company.
If you have a real life problem in this area, I would recommend you to visit www.bim4u.com. They are quite helpful in assisting Businesses. They call themselves problem solvers and they live up to that expectations. They did come out with inexpensive innovative ideas on cost reduction issues. May be they can be of help to your problem too. Wishing you all the best. |
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Marketing4all.net
 |
I think the best way to control your marketing costs, no matter what type of marketing you do is to ALWAYS test and track your results on your marketing campaigns.
Online: make sure you use tracking software to measure which promotions priduce better results
Offline: use coded offers - have prospects ask for a specific phone extension or mail in a coded coupon.
By testing I mean use two different versions of a salesletter or ad and see which one produces better results. Start with a small (inexpensive) test before you spend a lot of money,
Once you start your full campaign keep track of your Return on Investment (R.O.I.) and be sure you are making more than you are spending.
If you can't track the results then you won't know if your marketing is working or not.
Hope this helps
Wayne |
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Me
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I'd love to answer this question, but you need to be slightly more specific in stating your goals... I'll check back for details :-) |
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Libra G
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adwords.com allows you to set a budget |
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Todd R
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A general answer for a general question. Be more strategic and creative. Research and target market ILO the shot gun approach. |
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deno
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Depends on the business and how competitive the market is for this type of business in your area. For some companies a business card and word of mouth is enough. For a restaurant and other highly competitive ventures newspaper, radio, and other advertising of a higher potential audience may be in order. If you have been in business for long you must have a budget for this that was developed for the year, if not you better look at making one for next year and put money aside for it. |
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LABL
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How can we control the marketing costs of a business...
You need to give us more information. What type of business? What type of budget are you looking at for marketing? To whom are you marketing your product? Are you going to do trade shows? Etc., etc., etc. |
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