Estimate your marketing budget.

We are looking to market our business:

Our company is looking to expand into new regions, states or countries.

My product / service is a first mover or not very well known.

How aggresively do you want to be in going after market share & driving leads?

Has your website been updated in the last 4 years?

Recommended Budget
Budget is not a cut and dry situation depends on a lot of factors, but here is an exercise to help you.

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Calculating A Marketing Budget

One of the most challenging aspects of marketing is one of the first steps - determining a budget.

There are really no hard and fast rules because each business is different.  When we work with clients to determine a budget, we look at a few factors.

  1. Revenue. This is obvious, but everything is calculated as a percentage of revenue to match the budget to the size of the business.
  2. Reach. Are you marketing locally only, nationally, or internationally?
  3. Expansion. Are you looking to break into new markets where you may not have brand awareness?
  4. Offering State. When you are in a very new industry, education may be required. Before Uber & Lyft, no one knew what ride sharing was and so they had to spend more on educating consumers.
  5. Aggressiveness.  If you are looking to gain 50% growth versus 5% growth, that should impact your budget.
  6. Website. Websites are still the center of much of your strategy. If it has not been rebuilt lately, it may be a sign of your overall marketing infrastructure and the need to invest in foundational marketing tactics.

Check out our article and explanation of the difference between Marketing versus Strategic Marketing.

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