It’s easy to burn through a budget with these big-ticket items. There’s a better way to spend your cash.
There are a dozen ways to spending a marketing budget unwisely, but the following three line items are probably the worst offenders. Steer clear of all three-or, better yet, make a tweak to transform them from money-wasters into moneymakers.
1. Vendor-Focused Trade Shows
There are only two reasons to attend a trade show: 1) to generate sales leads or 2) to close existing opportunities. Both goals are impossible to achieve if neither customers nor potential customers attend the trade show.
For example, I know a guy who spent $100,000 for a booth at a trade show and got only 132 ‘sales leads.’ And all but 22 of those ‘leads’ were people from other vendors who were looking for a new job.
In order to convince companies to pay for booth space, trade show companies tend to provide misleading attendee statistics-and sometimes threaten to make your non-attendance into a PR disaster.
…to read this article in full, visit leading US small business resource, Inc.
