Ateneo Professor on Entrepreneurship
Repost from Inc by Geoffrey James | July 29, 2013
We are supposed to market even during lean times. And yet it is so easy to waste money on marketing. Here are 3 areas where you may waste your all ready lean cash resources:
l. Brochures . Many sellers think that brochures will sell the product for them. Selling, closing sells the products. You often hear sales people say "I will sell you brochures) thinking that it will sell the product. Very few people read brochures. It is a waste of paper and ink (Maybe an email will do?)
2. Branding Any advertisement you do on your product - TV newspaper billboards is branding. And yet you achieve branding by: 1. service/function of the product to the customer 2. type of service you give to the customer. No branding can be achieved without 1 and 2. despite heavy advertisement and promotion.
3. Sales kits . Marketers must really be provided with sales kits. But often times, it is the execution that matters.
So there you are; are you wasting your marketing budget?
Is your ROI for ME within the norm? Or you are wasting the hard pesos?
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