SCORRCAST Short | Investment

In this SCORRCAST Short, explore why marketing should be seen as an investment, not just an expense. Learn how internal framing of marketing budgets can influence organizational mindset, support sales teams, and drive revenue growth.

Transcript

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Today's episode of The SCORR cast is short and sweet, and it is about how you frame marketing budget internally. And the only other piece that I'm going to give in the setup for this episode is that the way you talk about marketing spend internally will help transform how people view marketing spend internally, looking at it as an expense or a budget versus an investment into the organization, is how we have to start to frame marketing as you go forward. So just a little bit more detail on how we can position internally that marketing is an investment in the revenue, investment in the business and an investment in the sales team for your organization. Enjoy this episode of The SCORRCAST. Today's the roles and responsibilities of an everyday marketer in 2022 are at an all time high. I've been talking about this a lot lately, with the expectations, with the numerous roles we play. We're all wearing so many hats. You've got to educate internally, you've got to manage up, you've got to manage down there's content creation. There's a new shining tactic every single day, and it just keeps on adding and one of the things I've been thinking about lately is really this thought process on the education internally to get buy in of marketing. Whether you are a general marketing manager, you're a copywriter on the marketing team. You're the chief borrowing officer. You're managing to the board, to private equity, to whoever it might be. There's this little aspect of this that can change the way your company looks, feels, and even reacts to marketing, to a marketing budget and and it really comes down to what do you list marketing at? Do you list it as an expense, or do you list it as an investment? And I know right, like, literally, logistically, it's getting expense. There's money going out the door. However, if we can reframe that internally, we are investing back into the company, we are investing in the brand, we are investing in the content. This is going to pay off, right? This is something that is going to give us reward in the short, medium and long term. And I know it seems simple, it also seems a little cheesy, maybe also a little complicated, depending on how you look at it, but I think when you go to your board and you look for your budget, when you go and you try to pitch a new project, instead of frame this as an expense, as a seven let's start to frame it as an investment. Start to paint the picture of what's possible when you invest in your brand, when you invest in marketing, and paint the picture of what's going to happen. And that doesn't always have to be numbers. It's the story that you're telling. It's the story that your audience is telling about you. Yes, it's important to have a worldwide Yes, it's important to show if we send, if we invest X, we can return. Why? But also, while we're returning wine, I want to see that, hey, if we do this, people are going to be talking about us in in the networks, on on LinkedIn, at events, they're going to be talking about our organization, our company, our thought leaders, our SMEs, and they're going to be telling the story that we want them to tell, because we've invested in that brand story. So real simple, in my mind, just take a step back. Start looking at marketing as an investment rather than an expense, and do as you can to educate your team, internally, externally, whatever it might be that investing in your brand, investing in your marketing, investing in your people, is going to is going to reward you in the long run. Have a great day. as always, thank you for tuning in to this episode of The SCORR cast, brought to you by SCORR marketing. We appreciate your time and hope you found this discussion insightful. Don't forget to subscribe and join us for our next episode. Until then, remember, marketing is supposed to be fun.