Making No Money But Good For Long-term Brand Awareness
Usually when people plan for some kind of event there is a budget to work with. With that people try to get all the glitz and glamor because people need to be impressed. I was then reading how one person was contemplating about having things like a fireworks display with money being a factor of course. If he did incorporate it he would probably run the event at cost or generate very little money. So is it worth it or is it better to save this stuff until you can actually pay for it and still make a profit?
It’s not so simple I think for cases like this. Nowadays a good form of free advertising is simply people taking photos and videos on their phones. With that they usually share it across all their social media platforms. If it is something as big as a fireworks display too that will probably increase the likelihood of more people talking about your event. Ultimately that can mean more interest and sales for your next event.
So it’s not just a matter of looking at your bank account right now as opposed to an investment in the long run. While not exactly the same, the notion is kind of similar to businesses that keep re-investing their profits to make themselves better. Like there if you were the owner do you take home a sizable pay cheque or do you mostly re-invest it to become even bigger?