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John Wargo suggests that Mike Neary could have
grown quicker with a stronger marketing effort.
Topic for Discussion: Should we set aside a
certain percentage of our gross sales for marketing and sales efforts?
Answer: John Wargo said we must commit
specific dollars to all of the marketing efforts. He believes the amount should
be a percentage of your gross sales. And it should be as much as you can
afford, not as little as you can get away with. Most small businesses succeed
because they sell.
The smart way to use your marketing dollars is to
test ideas before you roll them out on a big scale. Test telemarketing, direct
mail, community involvement, print and radio ads, a referral and a customer
retention program.
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