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How Do I Set My Marketing Budget?

10/18/2013|New Technology|

This is question we receive often, but can be answered by asking yourself a couple of questions and really looking at what you want your goals to be for the year.

What are all the mediums that I will be marketing through?

Consider website(s), microsites, direct mail pieces, non-traditional marketing, radio ads, TV ads, outdoor ads, print collateral, etc.

Who do I want to reach with my marketing materials?

Consider local reach, regional reach, national or global reach.

What is the duration I want my campaign to run?

A couple of months? The entire year?

What is my overall goal? More sales? Increased foot traffic?

A new brand identity? Increased media exposure?

What can I afford?

Generally, a solid marketing budget will be anywhere from 3-10%+ of your annual revenue to really have a solid marketing mix.