One line item you won’t find in Marketing expenses
Posted by Jonathan Patrick
One of the largest expenses that some start-up companies include in their financial projections is the cost for marketing. Whether that be for branding or advertising, the dollar amounts for this category can be large. Certainly it’s important to spread the word about your company, but aren’t there less expensive ways?
If you listen to what legendary venture capitalist Fred Wilson says on the subject your company should be spending nothing on marketing. By the way you should listen to Mr. Wilson. And frankly we agree.
If your product is designed well enough then your customers, through word of mouth, should be promoting your company for you. After all word of mouth is the cheapest form of advertising. And while face to face networking may not allow you to reach the mass amount of potential customers that print, radio, or TV can we feel that it certainly allows for more interaction. Aren’t trade shows just for that reason?
Low on cash for your latest business venture? Put out a good product and let your customers do the talking.
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