Wednesday, January 20, 2010

The Value of Marketing

Jump on the social media bandwagonImage by Matt Hamm via Flickr
So you've built a better mousetrap.  It's going to revolutionize the lifestyles of millions of customers.

Do you assume that customers are going to beat a path to your door? Most if not all of you are smart enough to say no.  So how do you bridge the gap between your product and making your potential customers aware of your product?

Here are a couple answers that I think I would get: Social media (facebook, twitter, linkedin, etc.), online partners/affiliates, blogging, hiring a PR firm to get media coverage...

All of that falls under some sort of marketing - which in my opinion is any venue you use to make you customers aware, trial, evaluate and buy your product.  So everyone says that it's hard to quantify the impact and/or value of marketing.  I can quantify it for you right now, it's the sales dollars that you record in your top line.  Without marketing, how else will customers find out about your product?  Some people say they use trade promotions, well in that case you're marketing to the intermediaries by giving them a discount - still marketing.

That was easy.

Reblog this post [with Zemanta]

No comments: