An expense, as defined by the Merriam Webster Dictionary, and as it is categorized on ledger reports, is a “burden” to your business. Yes, you expend money to purchase advertisements, boost posts, print signage, and everything else done to ultimately communicate with your audience. When discussing financial expenditures, marketing efforts are rarely seen by companies as a benefit. Rather they are seen as a burden. In all reality, marketing is an expense, a burden. To push money out the door with no solid guarantee that it will generate new traffic, higher sales, increased exposure, or more attention is, in fact, very cumbersome.
I discussed the expense versus investment comparison with a colleague recently and it has disturbed me since. Marketing is often the first to be cut from the spending allowances when money is tight, it is viewed as an unnecessary expense. Postage is an expense. Your company’s reputation is an asset! In order to be of value, you must invest in that reputation. If you need to increase the bottom line by decreasing spending, ask yourself this: How will people know who we are and what we do without an investment in our marketing? I’ll go ahead and answer that for you. They WON’T!