Spending money in your business can be a personal decision. What to spend it on is also a strategic one. How much should be delegated for what can be a crapshoot. It can be confusing and difficult to decipher what to spend your business money on.
Marketing is one of the areas you might be wondering about. “How the heck do I know how much to spend in this area?”
And, “I didn’t even know there was any thought on the subject of marketing budgets!”
So, we are going to talk about it today. Because yes, putting a budget to the specific areas of your business can help delineate your cash flow and decipher the best places to direct your funds towards.
What am I saying?
Decide how much is appropriate to spend on your business marketing. Decide how you’re going to decide how much you should spend on your marketing. LOL!
How Much Should You Spend On Your Marketing
Why Market in The First Place?
First, why market in the first place? This will help you understand how valuable your marketing is for your business.
Here are some reasons to think about your marketing:
1. To get the word out and share your business with your community!
2. To prove to people you are trustworthy 👍
3. Prove that you are competent
4. Build a good reputation in your community
5. Remind people you are there to help them. Remind people. Remind people. Remind people.
Other reasons you’ll want to market:
6. Big sale coming up
7. New to the area
It’s good to review why you want to market in the first place so you can decide how much you want to contribute to these efforts. You can even divide it up for different marketing efforts and budget accordingly.
What Is Included In A Marketing Budget?
Again, this is a bit personal. It can depend on your budget and your needs.
If you want a hard nose place to start and decide how much to spend on your marketing efforts you can choose a percentage. Like 2%-5% of your sales revenue. This can be a great place to start. Get this up and running and decide if you can spend more on your marketing efforts once this is going well.
If you spend 3% for a year and you’re seeing some good results and you can afford to up it, I say go for it. If you don’t want to grow your business, 3% might be a good place to stay. But, if you want to bring in more leads for your business, do more marketing.
It really is that simple. More good marketing efforts should bring you more leads.
If it is not doing this. Consider switching up your marketing plan and strategy. Marketing is a lot of testing at the beginning of your efforts. And, honestly, all throughout the life of your business. You can try different things when one thing stops working or switch things around when you want to add more marketing to your goals.
There are a lot of areas you can focus on. A lot of ways you can carry out your marketing. And, a lot of ways you can attempt to reach your target.
Investing In Marketing Is Money Well Spent
You might not get the results you are looking for in the beginning. Or quickly. Or instantly. That doesn’t mean it’s not working and it doesn’t mean it’s not worth it. Marketing can absolutely be a long game. And, a game you don’t stop playing.
Think about it. I have a crew that mows my lawn. They have been doing it for many years and I’m happy. Then something happens to the owner - they decide to sell and retire. The next people aren’t as great and I’m looking for a new lawn crew.
Because you have been dropping a flyer on my door a couple of times over the years I have kept one of the flyers and now I’m going to call and see if you can come by.
Marketing is a long game. Marketing is a consistently long game. Marketing is your way of saying “I’m here when you need me...give me a ring. I’ve been working in your community for a long time and I know I can help you out. Call me!”
You might even say…”and here is a discount for the first visit to prove to you I can be the next lawn crew you’ll enjoy having come by every other week!”
Are You Ready to Budget Your Marketing?
So, there you have it. Figure out the base number you’d like to start with for your marketing. From there either sit down with a pro or work it out yourself on paper (ok - spreadsheet!) what you want to market and how. You can certainly come up with a basic strategy for yourself.
Spread out your budget to cover the small or big marketing plan that you have! And, then analyze your results after a period of time to see if you need to make adjustments.
Again… Marketing. It’s the long game in business. Get started today!
Stuck With Your Content Marketing?
I’ve got this. I love to write for small and large businesses alike. My job is to make your life easier and bring relief to your business day. Writing is the backbone of your marketing efforts. Spreading the word about your business happens with good consistent writing.
My specialties are cleaning businesses, real estate agents, roofers, lawn care businesses, landscapers, hard scapers, house painters, plumbers, roofers, and other home service professionals and retailers, sales professionals, finance and budget teams develop and build their brand with the amazingly powerful marketing content that is your blog, website, and lead pages.
Reach out to me and we can chat about bringing relief to your business day and making your life easier!
I’m not here to sell to you. I’m here to educate you and make your life easier. I have the cure for what ails you when you are tired of trying to create all the business marketing content yourself! Message me today!
Content Creation and Business Writing Specialist
I'm Jennifer Ressmann
You've been thinking about how to get more exposure for your business! Now we can make that happen.
My job is helping you... with your business marketing & brand awareness. People are looking Online for you and your expertise. Make sure you're out there and you look good!
I work providing relief for you and your business by creating content
for your blog and marketing or lead funnels.
Let's make sure you're out there and getting noticed! 😀👍
Get Your Starter Marketing Kit - Start Your Marketing Today!
Content by Category
Copyright © 2018-2021
All Rights Reserved
Voiyoo Business Writing - Making your life easier. Providing Written Content with Optimized Graphics for Established Businesses.