Why marketing is so expensive, and what plan is right for your business.
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Sooner or later, most entrepreneurs have to face the reality that marketing is expensive. In the course of planning a new marketing campaign or trying to grow the business organically, you discover that to execute a strategy could cost thousands, or even tens of thousands of dollars, and to keep it going will cut into your bottom line.
Why is marketing so expensive? And is it really worth the cost?
Related: 3 Reasons Marketing Is The New Sales
What you’re paying for
Let’s start by explaining why marketing is so expensive. Generally, marketing costs account for things like:
- Salaries and human labor. According to Glassdoor, the average marketing manager’s salary is $65,834 per year. Most marketing strategies require extensive planning and execution, requiring many people coordinating together. Many of these people are highly skilled and highly paid.
- Limited resources. Some marketing campaigns depend on the use of finite resources, and at least some of these resources will be in high demand. For example, there are only so many billboards