Well, it’s official. I re-joined the Lake Wylie Chamber of Commerce. And I’m pretty happy about it.
Why I re-Joined the Lake Wylie Chamber of Commerce
In a word – marketing. Earlier this year I took a look at all of my various kinds of marketing activities and I listed the amount of money I spent investing in it. In the end, it was a no-brainer. After the measurements were in it was clear that running this website was my primary and cheapest source of new clients. Second place went to the Chamber.
A Return to Value
Before I decided to re-join the chamber I added up all the hours I had to spent doing doing marketing and calculated what I would have charged a client at an hourly rate. I then added up all of the money I spent on marketing added it to that total.
Note: While all figures below are entirely fictional, the spirit is true.
Website Design and Blogging Example
Total Cost = Hours worked + Associated Costs = = 10 per month @ $50 / hr + $100 => $600 / month in costs.
ROI = Revenue / Total Cost = $6000 / 600 = 10.
Lake Wylie Chamber of Commerce Example
Total Cost = Hours worked + Associated Costs = 6 per month @ $50 / hr + $20 => $320 / month in costs.
ROI = Revenue / Total Cost = $1600 / 320 = 5.
Radio Advertisement Example
Total Cost = Hours worked + Associated Costs = 1 hr @ $50 / hr + $250 => $300 / month in costs.
ROI = Revenue / Total Cost = $0 / 300 = 0.
Results
As you can see from above, even using fictional examples, I enjoyed a 10 fold return on my web design efforts, a 5 fold return on my Chamber of Commerce efforts, and a 0 return on my radio advertising efforts. You don’t have to have an MBA to realize that spending money on radio instead of joining the chamber is a poor choice.
What results have you enjoyed by being a member of the chamber of commerce? Let us know below.
