Mark Simpson argues property managers should fund marketing ahead of their current scale, treating it as an investment in future growth rather than a cost. He keeps a large marketing budget now to reach a bigger business size in 2 to 3 years.
I think any property managers that want to scale that are not currently investing and marketing is an investment. It isn't a cost to your P and L. It shows us the cost on the P and L, but is absolutely investment in your business. If they're not doing that already, then they absolutely need to be. If they want to bring more properties on and scale that management piece, that will be the number one that we've always done consistently and we've always invested in our Martins ahead of time. Arguably, our marketing budget at the moment is too big for the size of business we are at the moment. But I'm investing in that because of the size I want the business to be in two and three years from now, not because of the size I want it to be at the end of this year. Yeah.
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