Q: How Much Should I Budget for Marketing?
A: This is a question I am often asked. My response is almost always, “That depends.” over the next four weeks I will be sharing a weekly budgeting factor with you to help answer that question. So without futher adeu, on to number one!
1. How new you are in the business or in your community of buying publics. Newer businesses usually allocate a greater percentage of revenue to marketing to fund activities that establish identity, build awareness, research primary target audiences, and drive your brand.