How Much Should You Spend on Your Marketing?
Have you questioned your marketing budget for your small to medium sized B2B business?
At Providence, we are experts in the field of creating marketing budgets to meet client’s needs and keeping on target for the duration of the budget.
So, here’s the answer to the question: depending on the size of your business or the annual sales volume, your marketing budget should reflect 5% of annual sales. Often the first step to creating a marketing budget for your business is to ask the question, “What does the business need to accomplish?” Once marketing goals are set, the next step is to assess what marketing tools are already available and establish how to build brand awareness and attract and engage both current and prospective clients.
That’s it! It’s that simple. What isn’t simple is the execution, analysis and follow through with the marketing campaigns. However, with a healthy marketing budget and Providence as your marketing team, we can help you achieve your goals and produce profitable results!