On Coffee and Content Marketing: Costs vs Value
This week, we were going to buy a coffee machine for our office. Why should you care? Well, after weeks of spending money at the canteen every time we wanted a proper cup of coffee, we realised that we’d save a huge amount of money by just purchasing a coffee machine ourselves.
Of course, what we were considering is something that all businesses hold at the forefront of their minds. With every purchase or big spend, whether it’s on a coffee machine, a new marketing strategy or the hire of a new employee, businesses-savvy decision makers must decide whether this spend will see a saving or return on investment in terms of both time and money, amongst other factors. Unfortunately, too many individuals forget that the monetary cost isn’t everything.
Time and Money
Much to the disappointment of our wanting-to-unwrap-shiny-new-things-desires, we’ve actually decided not to buy a coffee machine. Although on initial inspection we might appear to be looking after the pennies, there are so many other factors to consider. Not only would the quality of our cups of coffee suffer by making it in-house; we’d also be missing out on the chance to step away from the work we’re doing and allow our minds to go blank for a moment, which studies have shown are essential periods to improve productivity. The quality and the impact upon both our work and future business abilities are two important value considerations that we might otherwise have forgotten.
If we isolate coffee making to pure monetary values, we’d have to weigh up more than just the cost of the coffee machine milk, coffee and electricity. On a minimum wage of £6.08, those five minutes spent making a quick cuppa add up to an extra 50p. If your top earner is on a wage of £60k, that’s £2.50. For a cup that previously cost a couple of pounds, you’re immediately looking at an overall loss when you remember to account for the cost of your time.
Website Content and Coffee
This analogy is all too relevant for businesses considering engaging a content marketing agency. They study the costs and immediate expenditure, and often the instant reaction is to say “I could do that myself for less.” But as with our initial idea to bring coffee-making in house, there may well be a flaw in the argument. If you’ll spend two or three hours crafting an article for your website, the time expenditure will be considerable. And whilst your primary sales person may be the best in the world at their job, there’s certainly no reason for them to write like a best-selling author or journalist, so you could be shelling out for a mediocre cup of lukewarm coffee.
If you fall into the category of one of those who keeps your website updates in house, remember to place a value on your time. Content marketing is about so much more than initial outlays and expenditure. How do you place a value on your brand’s improving reputation, or as being recognised as the leaders within your industry? Weigh up how much such matters mean to you, and go into your next budget meeting informed and ready to raise those issues that nobody else has yet thought to consider. With luck, your business will be rewarded with so much more than the best cup of coffee you’ve ever had.
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