Josh Rotbart, CEO of Malca-Amit Precious Metals, on Maximizing Marketing Budget ROIs
Cutting costs and increasing profitability: Everybody talks about it, but how do you do it?
We recently got some tips from Joshua Rotbart, managing director at Malca-Amit Precious Metals. This asset procurement, transport and storage business is new a subsidiary of the Malca-Amit group – a luxury logistics firm established in 1963 and responsible for 60% of all global diamond shipments.
Some of Rotbart’s surprising insights:
A good e-newsletter can replace expensive face time
While Rotbart recruits many clients at conferences, many are also drawn in by his website and e-newsletter.
“I think I looked at my calendar a year ago, it was packed with business trips,” Rotbart said. “At the end of the day, I’m not sure it generated more business than sitting in my office in Hong Kong and sending out a couple of good newsletters.”
Rotbart sends out a monthly newsletter with content provided by Vimi.co, which also built his website. “When people ask, I call Vimi my marketing agency,” Rotbart said.
Online marketing focuses your message
p>“Your message becomes clearer and more focused online,” Rotbart said. For example, last year he spent about $25,000 for a conference in London. “I was exposed to maybe 200 people,” he said. “Ihndsight is always 20/20 but i beleive that had I spent the same amount, or even half of it online, I’d have my message delivered to a much larger AND more focused group of people.”
Good marketers know that they have to be succinct on the web. This helps them tighten their focus and is a good way to keep distracted eyeballs on their pages.
Online marketing is a good bet for start-ups
New businesses should explore e-newsletters as a budget-friendly way to build a client base, Rotbart said. “We started bigger in terms of our marketing expenses, and then we kind of contracted a bit” as we developed online resources, Rotbart said.
He doesn’t spend his entire marketing budget online. However, he says, “If you look at your return on investment, I think you’ll get more if you do it online.”