Money and Marketing - Part 2

Part 1 is here:

I would argue that there is really one reason to spend money on marketing.  You spend money on marketing to leverage an organizational or artistic strength.

Stop.

Read the sentence again.

Please note that I didn't say that the reason to spend money is to build a brand, or build awareness, or sell tickets, or anything like that.  You're spending money to take advantage of something you're good at.

 An example:

You're a part of dance company preparing to make a series of performances.  Part of what you've always done is a direct mail piece to your mailing list.  Here's the question:

Why do that mailing?

Is it because you have a strong visual style (strength) that is reflected in the postcards?

Is it because you have some sort of clear evidence that your mailing list is particularly effective (another strength)?

Is this mailing going to take something good and make it better?

If the answer is No, then why do the mailing?

If the answer is Yes, then why aren't you mailing twice as much?

Another example:

You're a musician.  You're pondering a major investment in your own website.  Instead of saying "I must spend the money" or "I can't afford it", think of it this way:

Will the website help you to increase your connection with the audience?  Exactly how will that happen?

WIll the website help you to demonstrate the skills and range you have as a musician?  What's the plan for making that happen?

It may turn out that after you ask those questions you determine that you don't really NEED to spend a lot on a website because it will just help maintain the status quo.  Keeping the status quo in place is not something worth paying for.

Read that sentence again.

If you are spending money on marketing and things aren't getting better, clearly better, then you should consider stopping that investment and either holding on to it or spending it some place else.

----------------------------------------------

So that's an example of what I offer in my email newsletter.  As you can see it's a litle longer and more detailed than a typical blog post.  It's also a place where you can directly ask me questions and see those questions answered in the newsletter.

If you find value in the blog, I'll think you'll find additional value in the newsletter.  Sign up here.