One of the secrets to great marketing is the power of appreciation. I don’t mean the idea of giving thanks. Instead, I mean the power of creating appreciating assets that increase in value over time.
In everyday life, your house may be an appreciating asset. It’s worth more today than last year. If your retirement account grows in value, it’s an appreciating asset. You may also own a piece of land or a collectible item that becomes more valuable over time. Investing in appreciating assets is essential because they increase your financial strength for the future.
In marketing, it’s also essential to build appreciating assets. However, you have to make sure you understand the difference between appreciating and depreciating assets. For example, Facebook is a depreciating asset because it costs more do business on their platform than it did two years ago. Your advertising budget is also a depreciating asset, because you have to keep buying new ads on a constant basis. Getting interviewed on Good Morning America is a great marketing appearance, but the value of being on TV depreciates over time.
In contrast, there are specific marketing assets you should always build, because they consistently appreciate in value when used correctly. My top recommendations include:
Examples of Appreciating Marketing Assets
1. Email list: A constantly growing email list puts you in a position of strength to reach more people and grow sales than you did last year.
2. Website: An effective website helps close more sales with less effort as people around the world visit you online.
3. Joint venture partners: Individuals who help promote your products to their audience are invaluable appreciating assets, because they expand your reach and credibility for free.
4. Notable endorsements: Getting testimonials from famous people can deliver lasting authority and word of mouth
5. Published books: Publishing a book can be an appreciating asset that remains in the marketplace for decades, increasing your credibility, exposure, and income.
How many of these five assets do you own? Examine your marketing in the same way you judge your financial holdings. Are you building appreciating or depreciating assets?
Cars are known to rapidly depreciate and lose value over time. Investing in speculative real estate or Ponzi schemes can wipe out your entire fortune. Don’t make a similar mistake by investing too much in marketing assets that decrease in value.
Put most of your time and resources into developing marketing assets that compound over time. When you read this article this time next year, you’ll be in an even better position than you are today.