How To Determine A Marketing Budget

Advertising and Marketing are not created equal!

Before we jump into how to determine a marketing budget, let's find out what a marketing budget can do for your business.

Advertising

This used to seem like such a grimy word.

Today I want to alter that perception.

The purpose of marketing is to create awareness, generally through unpaid mediums with a lack of control. On the other hand, advertising relates to paid avenues with the same end goal but much more control.

This is why learning how to determine a marketing budget for your business includes marketing and advertising in the is case. Add anything related to awareness into your marketing budget.

Here are a few reasons to start paying for advertising in your business.

Perception- Just by the sheer fact that you can pay for advertising gives your business a perceived cache over others. Imagine seeing a local bakery with a billboard as opposed to one without. Which would you assume is more successful?

Control- Earlier I mentioned that advertising provides a bit more control while marketing is more of an awareness tactic. Your ad placements allow you to target your perfect customer. Hence, a higher level of control when using paid mediums. If you aren't sure who your perfect customer is, get your free download- The Socialife Guide to Attract Your Perfect Customer here.

Measurable- Measurement is key in advertising. The ability to determine ROI for your social impact business encourages growth and good decisions in the future. When you determine a marketing budget, measurability is the determining factor as to whether the campaign is viable or not.

How to determine a marketing budget for any business.

In today's video, I'm sharing 3 major tips to begin creating your marketing strategy so you can maximize your advertising spend.

The best rule of thumb is to use the industry standard of 2-5% of your gross income.

Whether you are just getting started or you have a long standing business, you can determine the RIGHT sized budget for your business.

In today's video I'm sharing 3 tips to help you determine a marketing budget for your business!

I hope you enjoyed the video!

Let's increase that marketing budget by increasing that revenue!

Now get out there and Unleash Your Something Amazing on the world!