Asking what marketing costs is the wrong question. Asking instead what it is worth provides a much better answer.
Many marketers are focused on the most volume at the lowest possible cost. How do we get our cost per lead lower? How much traffic can we generate while spending less? It sounds efficient but often it’s actually counterproductive.
Is $20 bucks per direct mail piece too much? That’s a question asked entirely out of context. Would you be willing to spend $200 dollars to get a Fortune 1000 CIO’s attention?
“That marketing piece is too expensive” misses the point. What’s the end-result worth to you? When you ask how much marketing costs (vs asking what it is worth) you’re perpetuating the idea that marketing is a cost center.
When you measure marketing’s impact based on revenue results vs superficial volume-based tactics, you open up a ton of creative new opportunities to directly create that impact.