William Russell Feb 5, 2014

Spending money usually means you are buying something you need that either serves a specific purpose or delivers an element of value to you.  Investing money is different.  When one takes the time to allocate dollars to investment funds, they are normally expecting some type of return. 

In business, we do both – some things are expenses while others represent investments.  Oftentimes, businesses erroneously consider their marketing dollars as expenses.  What if you shifted your thinking to where your marketing budget was actually thought of as an investment?  Taking that kind of mindset means you should expect something in return for that investment.  That’s exactly how it should be.  The dollars you invest in your marketing efforts are purposed to help accomplish goals for your business. 

Time is on your side
Always consider your marketing dollars as investments that pay a return.  And, like most investments, a desired return often factors in time.  Be patient.  Don’t fall into the trap of whacking your marketing budget at the first sign of poor revenue or sales performance.  Your marketing investment dollars represent the fuel for your revenue-generating efforts.  Cutting your sales fuel supply will only create sputter in your revenue-generating engine and deliver mediocre results.  Effort, focus and commitment can make all the difference between disappointment and rewarding dividends. 

Establish realistic expectations
When you create a marketing plan and the investment dollars required to implement the plan, place measures and expectations against these dollars.  For example, suppose you were planning to build a new web site.  As you create the budget for the project, create a list of objectives and ROI expectations for the new site.  Some of these may be qualitative and some quantitative.  The point is to have these measures in place so that the reason for your investment is clear to all.  The same scenario could be applied to an event, such as a trade show.  Any funds allocated to that event need to be tied to an objective that carries a reasonable return.  You may otherwise find yourself spending your marketing dollars with false expectations that only lead to frustration.       

What will you gain from marketing?
The investment mindset should be applied to all of your tactical marketing.  Ask yourself what value these tactics will bring to your business.  Determine what you will gain from them and why you want to implement them.  The ultimate goal obviously has a revenue value tied to it.  Every marketing tactic you execute should be focused on playing a key role in generating sales for your business.  Some marketing tactics will have an immediate and direct impact toward those goals while others are considered “enablers” for sales and business development efforts.  Be strategic and develop a balance that delivers your expected return.  Here are several attainable objectives that may reflect what you are expecting from your marketing investment:

• Increase market awareness and visibility for your offerings
• Generate new leads and opportunities for your business
• Gain exposure in key market segments
• Drive buyer traffic to your website or directly to your business
• Communicate compelling market message points that attract prospects

Focus and commit
Like any investment, your marketing dollars will yield their highest return when you commit to maximizing them through your efforts and focus.  Taking this approach mentally and tactically will make your marketing investment rewarding.  Even when economic slumps occur, avoid the temptation of slamming on the marketing brakes.  Instead, juice up your sales and business development engine with high-octane fuel and your revenue opportunities will keep your business moving upward.