Marketing Budget Guide for 2018
So, you’ve put off finalizing next year’s marketing budget. You’re not alone! Fortunately, we have a few tools to help guide you through the process, from identifying your most pressing needs to setting goals and establishing a budget that will help you achieve them.
Step one: use our SMART Goals Workbook to set specific, measurable goals. It’s imperative that you do this before getting to work, because the goals you set now will serve as the baseline for measuring success — and being able to measure your success is crucial!
Next, check out our budgeting flowchart. There are a multitude of factors that determine how much of your revenue should be allocated toward marketing. Our flowchart takes these factors into consideration, guiding you through a series of questions designed to help you arrive at a budget consistent with other companies of your size, age, and marketing needs.
Lastly, our blog post “Dealing with the B word — Budget” provides additional insight into the recommended marketing budgets, explaining, for example, why the recommendation for start-ups is typically 10-15% higher than the recommendation for more established companies.
Don’t fall behind — get started on your 2018 marketing budget today!
After reviewing these resources, you should have a pretty clear picture of where you should focus your energy in the upcoming year. If you need a partner along the way, Macleod & Co. is here to help.
At Macleod & Co. we know that every endeavor is only as good as the strategy behind it. That’s why every single intiative we undertake is based in strategy and is custom tailored to help our clients achieve (and surpass) their goals. If you’re looking to grow in the year ahead, we’d love to chat.
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Contact us to take the first step towards reaching your business goals.