Certainly, marketing communications can be expensive. Whether it’s a responsive website, onsite materials, social, TV, collateral…doing it well, reaching your target, and getting results require appropriate financial support. But the commitment to a marketing communications strategy and its related projects is really a commitment to business objectives.
Whether it’s support for a sales force that benefits from a positively predisposed prospect, validates the decisions of current clients and customers, or creates a message that stimulates a buying decision, that cost is an investment. Consistent and effective marketing, advertising, social engagement, and brand presence should have an outstanding return as a requirement.
Consumer products companies know the importance of “being out there” to create and build customer loyalty translated into increased purchase decisions and share. For many companies and institutions in more of a services business, it seems less obvious because the correlated business results are more difficult or impossible to measure.
What’s certain for us all is that competition is an impressive (or an oppressive) force. We also know that there’s a need to be known and relevant in order to be top of mind, whether to secure a place on the short list of a large and potentially business-altering client, or to have a place in a consumer’s shopping bag.
Amortized across sales efforts, employee recruitment, and brand growth, a marketing budget is an investment, provided that the resulting work is smart, intrusive, memorable, meaningful, and empowering. Viewed as an investment, the sometimes significant expense of strong marketing becomes much more than a discretionary line item. It becomes an indispensible bottom line item.
How do you view it? Do you know how to ensure that the results make the cost in time and money worthwhile?