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I was asked by a client how much they should spend on advertising. They wanted to know what percentage of gross income they should spend and be able to feel good about the amount they were spending. I reflected and asked them how they would like it if they could spend zero because business was from word of mouth referrals, repeat customers, and people who drove by and stopped in to do business. I also stated that before their breakup, ATT purportedly was spending HALF their gross income on advertising to fend off competitors and keep their market share.
Is Advertising an Expense or Investment?
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