How to Market Your Business
When buying a company, one of the first things that a buyer should look at is the Marketing and/or promotion budget of the company. Small businesses never spend enough money on promotion. If they did, they wouldn’t still be small businesses. A business in order to grow needs to spend 14% of its gross income on marketing and promotion so that the company has a steady growth increase every year.Companies doing over $2 Million a year, in sales, became that way by spending a considerable portion of their budget on promotion and marketing. Some companies are in trouble today exactly because they have reduced their expenditures on promotion and marketing, just at the time they needed to increase it.One of the tests of the health of a business is, “How much of the gross income is spent on promotion and Marketing?” What is the quantity of promotion going out? If you find they are spending enough money to promote their products, then you would look at the next question. “What is the quality of their promotion?” If the quality is also good, then you look at the third question. “How viable are the Marketing is campaigns?” Are they getting results? What is the response percentage? Is that enough responses or are more needed?The survival of any company is heavily tied into the Quantity, Quality and Viability of its Marketing and Promotion. At Business Buying Services, we can help you understand how to market your business successfully.
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