A limited marketing budget creating uncertainty of how to get the most bang for your buck.
Small business owners frequently approach me on the need to do more marketing or improve their marketing strategy. The discussion eventually circles around to the budget and how much they are able to commit. It is not uncommon for the client to say they don’t know how much they should be spending or how much they currently have budgeted.
The “what should my marketing budget be” is not the right question. The more relevant question is “where is my revenue today, and where do I want it to be 3 years from now, and how much of today’s resources am I willing or able to commit to reach that goal”.
Once you know what the revenue goal is, and how many leads are needed to convert to prospects and prospects to orders, you can begin to determine what your marketing options are and how much budget is needed to meet your goal.
This white paper provides the small business owner with some insights into their strategic options when considering an investment in marketing for their small business to meet their revenue goals.