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WEBSITE MARKETING

What Is Your Marketing Really Costing You?
By: Developer Shed
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    2003-12-22

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    What Is Your Marketing Really Costing You?
    by Charlie Cook

    Small business owners are justifiably concerned about
    the expense of marketing their business. Many look at
    marketing as a line item in their budgets, and minimize
    marketing expenses in order to maximize profits. But to
    grow your business and be more profitable, you need to
    evaluate the costs of marketing from a broader perspective.

    Like most small business owners, you know what you earned
    last year, and you'd like to earn more. You know your
    target market; if your marketing worked how much more
    profitable could you be? If you could get all the attention
    you deserve, attract all the prospects that your research
    suggests want your products and services and close more
    sales, how much could you make next year?

    If you made fifty thousand dollars this year and your
    analysis of your market suggests an earning potential of
    four hundred thousand dollars per year, then your current
    marketing strategy is costing you the difference, or three
    hundred and fifty thousand dollars in lost income each year.

    How much is your present marketing approach costing you in
    lost revenue? Evaluate your marketing strategy using these
    questions;
    - How much less would you make if you didn't do any marketing?
    - How much more will you make next year, using the same
    marketing strategy you used last year?
    - How much could you make if your marketing really worked?

    The first step to making more next year is to identify your
    earning potential. Clarify the number of buyers in your
    target market and estimate how much each one is worth
    per year. Of course not everyone who needs your service
    wants what you have to offer, but if your marketing is
    working, a whole lot more will understand how you can
    solve their problems and meet their needs.

    Step two is to implement the marketing strategies and
    tactics that will help you achieve your potential this year
    and in years to come. No bones about it, to grow your
    business you will need to invest both time and money in
    marketing on a regular basis. To get the most out of your
    efforts, make sure to use a marketing plan that helps you
    attract the greatest number of prospects and clients and
    grow your business, year after year.

    Don't let your marketing strategy cost you thousands or
    hundreds of thousands of dollars in lost revenue next year.
    Instead cut the true cost of your marketing by investing
    the time and money to make your marketing work, to
    attract more clients, close more sales and grow your
    business.

    With a little knowledge, effort and investment in your
    marketing you will be able to pocket the difference
    between what you're making now and your earning potential.
    -
    2003 In Mind Communications, LLC. All rights reserved.
    -
    The author, Marketing Coach, Charlie Cook, helps
    independent professionals and small business owners
    attract more clients and increase their earnings
    with the 5 Principles of Highly Effective Marketing.
    Sign up to receive the Free Marketing Guide and the
    'More Business' newsletter, full of practical tips
    you can use at http://www.charliecook.net/
    DISCLAIMER: The content provided in this article is not warranted or guaranteed by Developer Shed, Inc. The content provided is intended for entertainment and/or educational purposes in order to introduce to the reader key ideas, concepts, and/or product reviews. As such it is incumbent upon the reader to employ real-world tactics for security and implementation of best practices. We are not liable for any negative consequences that may result from implementing any information covered in our articles or tutorials. If this is a hardware review, it is not recommended to open and/or modify your hardware.

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