BUDGETING FOR MARKETING

November 5th 2012 at 10:40pm Published by firstdownadmin

A marketing plan is a detailed roadmap that outlines your marketing strategies, tactics, costs and projected results over a period of time. Your marketing plan and budget keeps your entire team focused on specific goals – it’s a critical resource for your entire company.

Some statistics have shown that up to 85% of small- to mid-size companies operate from a budget only — without a written plan to accompany it. This explains why so many marketers are tactically focused – they’re figuring out how to spend a defined budget, instead of thinking about goals and strategies.

How to Set a Marketing Budget for Your Small Business:

1. Step 1: Look at the Big Picture. A marketing budget is essential for your small business at any stage. 
2. Step 2: Outline Your Sales Funnel.
3. Step 3: List Your Operational Costs. 
4. Step 4: Set Goals. 
5. Step 5: Scope Out the Competition. 
6. Step 6: Create Your Marketing Plan.

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