The Right Question

How much would your company pay for a marketing strategy?  There’s no single right answer, of course, but there is a best answer for you.  It’s all about return on investment.  How much new revenue does the plan need to produce to be considered a home run?  Let’s say a new marketing strategy takes an investment of $3,000.  That might sound like a lot.  But what if it generates $9,000 in new profits in the first year?  Sounds like a better deal, doesn’t it?  Whenever you consider a marketing investment, ask yourself what kind of a return it would take to make the investment a success.  Then ask yourself if this investment has a reasonable chance of producing that kind of return.  If it does, then the price is a bargain.  If it doesn’t, the price is too high.