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What is a lost opportunity cost?
A good example would be the cost of missing well-targeted editors who would like to print a press release about your business or your software.
- How much money would your business lose if your next software press release weren't sent to the computer editors at The Associated Press, Bloomberg News, Copley News Service, and the other news services and syndicates?
- How many more sales would your press release have generated if you had sent it to the proper people at USA Today, The Wall Street Journal, The New York Times, and the other 250 US newspapers that have circulations from 50,000 to more than a million?
- How do you measure the lost sales from press releases sent to computer magazine editors or business editors who have moved on to other jobs?
Keep your business on track
Don't cut corners. It will cost you dearly if your press release isn't sent to key editors, or if the trial version of your software isn't available on key Internet download sites. Your business will make more money if you think about both direct costs and lost opportunity costs when making your marketing decisions.
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When prospects read a press release about your software, they reach for their credit cards.
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The biggest cost of a press release campaign is the lost opportunity cost.
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