Marketing opportunities are endless, but marketing budgets are finite. Is it better for a mom-and-pop business to put money into online and social media marketing, or to invest in real-life sponsorships and events?
As with many things in business, you can only find out through trial and error, says Rus Graham, cofounder of New England-based Rushton Gregory Communications.
"The difficulty with marketing programs is that everyone is unique," Graham says. "There isn't a cookie-cutter approach."
Graham urges clients to think about the difference between qualitative and quantitative marketing. A qualitative opportunity might be something like a local summer fair where a business can set up a booth, and the owner can have high-quality, in-person interactions with possible customers. By comparison, a quantitative opportunity is something like digital advertising, where the goal is getting in front of as many eyeballs as possible.
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