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.
