How to Get the Most from Your Marketing Budget

Are you getting the results you want with your marketing initiatives? If your results are not where you want them to be, perhaps it’s because you’re not investing enough money into your marketing campaigns. But, how much should you be putting into your marketing tactics per year and how can you make the most of your budget? Read below to find out more.

How much should a business spend on marketing?

 

Your business shouldn’t think of marketing as an expense – it’s an investment, one that drives your sales. Without marketing, you will lose out on reaching new customers, which results in lower sales. There is not one rule about how much your company should be spending on your marketing. However, many businesses use a percentage of revenues as a guide, which is roughly 5-10%.

Some businesses cut their marketing when they see their sales dropping. But, this cut in your budget can actually lead to your sales declining even further. If your sales are slowly declining, then it may be the perfect time to increase your marketing budget. This is especially important in a slowing economy and when other businesses start to cut back on their own marketing.

Our team at Go Online Marketing can assist you in creating a customized marketing plan that will exceed your business goals and continue to grow your brand this year! Call us at 1.877.900.0146 or 416.900.0988 to take control of your business!