Marketing is profitable to businesses because it creates a customer base that stays with a business long after the sales are complete. When you take a look at most industries, however, the same rule applies. Marketing is most profitable to businesses using the profits from marketing long term and short term demands of those that can pay a one time, or at least a steady stream of product or service placement. In recent years, the New York Times described this type of marketing as “the science of telling stories so captivating that most consumers lose sight of their wallets.”
If your goal is to sell a product or service, then you should focus on marketing for the long term rather than short term. As the saying goes, you get what you pay for. Therefore, if you are only going to market a product or service once, and that product or service turns out not to be a good buy, then you will have wasted money. Therefore, it is in your best interest to try and create a consistent revenue stream in order to generate a profit.
The first thing to think about when marketing is whether or not your customers are truly interested in what you offer. If you ask your customers, they may say, “Yes, I do need your help,” but that doesn’t necessarily mean that they are going to buy. Therefore, you must focus on providing information to customers, which will allow them to make an educated decision regarding the use of your product or service. You must always focus on creating a positive relationship between you and your customers. If your customers feel that you are providing the service that you are promoting, then they are more likely to buy from you.
Another way to determine whether or not your marketing is profitable is by taking a look at your current customers. If your customers don’t have a solid reputation in the industry, and if their past purchases have been less than successful, then it may be worthwhile to consider different marketing approaches. However, if your current clients are happy and satisfied with what you are offering, then there’s no need to change your marketing strategy.
You also have to determine whether or not marketing is profitable on a one time basis or on a long term basis. If you are offering a product or service for a long period of time, such as a lifetime, such as health insurance, then your marketing will not only create a positive relationship between you and your client, but will also increase the value of your product or service, and in turn increase the amount of your revenue.
Whether or not marketing is profitable on a one time basis depends upon the type of product or service you are offering. If you are selling a product or service that is of the long term, such as a dental insurance plan, then you may not need to think very long term. Your marketing strategy will most likely be more profitable if you are providing more of a free consultation or informative resources. In contrast, if you’re selling a product or service that has short term needs, such as toothpaste or deodorant, then you may have to work harder to get your message across to your customers. Therefore, you should focus on building a positive rapport with your clients by providing helpful and useful content and by providing value to them in the hopes that they will buy from you in the future.