Internet Marketing Online Advertising
Go ahead and ask five different advertising professionals what “profitability” means. You'll get at least five different answers. Now ask any five business owners or managers what the word means. They'll all say the same thing.
Profitability is about maximizing income while minimizing costs. In other words, it's about making money. The disconnect here is not between dreamers and pragmatists. The difference is a matter of focus.
Business managers know that profit is making money, but they also at least partially understand that it's not possible to just hike up prices until profits are where you'd like them to be. Competition and people's sense of value limit the maximum price to be paid for any product or service.
Advertising specialists often only see the competition side of things and tend to think of profitability on terms related to number of sales. They don't often see the business side (costs) of the equation.
Rarely, both of the two perspectives come together into one leader. Always when this happens, though, companies succeed by soaring beyond their competition. These are usually then seen as the “moguls” or the “masters.”
A better word for them is “entrepreneurs.”
It doesn't take much to see a need in a market. Nor does it require genius to find a way to fill that need. It does require something special to do both and then to find a way to market it beyond anyone's expectations. That's an entrepreneur.
In this sense, an entrepreneur is more than just someone who looks at profit and loss (P&L) statements or market forces. Instead, he considers both and then somehow is able to come up with a middle point that maximizes the potential of both.
To do this requires insight into more than just the basic numbers and market information. It requires the ability to subjectively consider indirect impacts on a business as well as the impacts on the business' image (or brand).
Most marketing programs cannot be totally quantified into neat columns on a spreadsheet to show their benefits and costs. Many of the indirect benefits of marketing aren't measurable. This is especially true of branding and social outreach.
Internet Marketing Online Advertising: Cheaper Isn’t Better
The real trick here is to get the thinking of a business manager together with the thinking of a marketing expert and come out in the middle. New graphics and a website redesign, for instance, are costly up front, but can pay off over time.
When a business seeks to establish a brand, for instance, they have two choices to make with the online advertising aspects of their business. Inexperienced marketers or business professionals will choose to find low-cost measures to take to brand themselves.
In lieu of doing a site redesign and updating a logo or other branding device, they'll seek the cheaper route of straight advertising. That usually fails.
The experienced marketing expert will likely first look at the online presence, both at the website and around the 'Net. The expert will then seek ways to tie these together, revamp them to make them fresh, etc.
Many websites have core technology and even existing marketing that continues without change while the website sees a total redesign and rebuild. Quite often, that redesign, followed by a short, low-cost campaign targeted to existing markets already being utilized, is all that's needed to launch a new branding effort.
Internet Marketing Online Advertising: Hire a Top-Dog
The difference there was that the expert saw the whole picture and worked out a way to bring it all together. The amateur will focus on the budget aspects or on the artistic/esoteric aspects and miss the big picture.
This is one reason why many online business attempts never get past the venture stage. Once the project gets too large for amateur marketing to continue it, the mistake of saving money by not hiring a professional proves fatal to the whole endeavor.
Internet Marketing Online Advertising: Bark at us & Increase Profits
The value of a professional is usually immeasurable, even when utilized from the beginning of a business startup. Sometimes, the further down the road a business gets without a professional in marketing, the worse the bumps look.
We here at Wag the Dog Marketing specialize in both startups and well-established businesses. Our online marketing experts can take your business, at any stage of development, and propel it to the next level.
Bark at us today and we'll show you how we can help your business succeed for the short and long haul.
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