How Much Should You Spend on Marketing?
Thursday, July 9, 2015
Many companies pinch pennies when performing marketing activities. This is usually a mistake; maximizing return on investment is often more important. But don't get your wallets out just yet. There are plenty of companies that have learned to stretch their marketing dollars. Today we'll examine the internet marketing firm HubSpot.
The company found a very cost-effective way to build its brand. For those not in the know, it offers a free certification for inbound marketers. On the face of it, it sounds like a great idea. They spent a bit of money up front to create some training materials. The firm then gives them away in order to create an army of marketers who would be partial to the HubSpot brand and possess the skills to use the firm's tools effectively.Disclaimers:
- I earned this certificate in fewer than thirty minutes (study and exam time included).
- I'm not a huge fan of certifications. This should not surprise those of you who have read Profit Maximization with Software Engineering Certifications, a post that compares modern certification programs to criminal racketeering enterprises.
Soon after the testing website informed me that I had passed the exam, I received an email from the company that took my lukewarm interest in the certification process to a whole new level. The message invited me to "take advantage of my new badge." How exciting! Not only did Hubspot give a free certificate to me, but now I can take advantage of it too? Sign me up. I followed an enclosed link to a blog post entitled 7 Ways to Market Yourself Using the Inbound Certification.
The first six ways involve my telling other people that I am now HubSpot certified. The seventh suggested that I might also wish to apply what I had learned. What do the first six ways have in common? They are likely to benefit HubSpot immensely! It's free advertising. As we update our resumes, blogs and other online content to mention our certifications, we're delivering huge amounts of social proof to the company without forcing them to give us a dime. Marketing isn't always about throwing dollars at a problem. Sometimes a more subtle approach is far cheaper and much more effective.
I'm the only TapRun certified pricing adviser on the entire planet, so you know that I have the skills to help you with your pricing problems. Why not contact me for a consultation, or take a look at my book on software pricing?