))
Business Marketing Strategy: "How Much Should I Spend On Marketing?"
Archived series ("Inactive feed" status)
When?
This feed was archived on February 26, 2024 21:33 (
Why? Inactive feed status. Our servers were unable to retrieve a valid podcast feed for a sustained period.
What now? You might be able to find a more up-to-date version using the search function. This series will no longer be checked for updates. If you believe this to be in error, please check if the publisher's feed link below is valid and contact support to request the feed be restored or if you have any other concerns about this.
Manage episode 289365779 series 2814726
Content provided by Edwin. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Edwin or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
https://virtualcmo.expert/
Business Marketing Strategy: "How Much Should I Spend On Marketing?"
While the marketing industry is filled with strategies and ideas, it’s easy to get flustered by all the things you “should” be doing to help your company grow. Ultimately, it all comes down to planning and budget.
Over the past five years, we’ve developed what we call “marketing math” to help clients define exactly what they should be spending on marketing:
New companies: For companies that have been in business for one to five years, we suggest using 12 to 20 percent of your gross revenue or projected revenue on marketing. (Companies less than a year old, tend to need to ramp up before spending marketing dollars.)
Established companies: For those companies that have been in business more than five years and have some market share/brand equity, we suggest allocating between 6 and 12 percent of your gross revenue or projected revenue.
While this may seem like a lot, remember new and emerging brands are looking to capture new market share and develop brand recognition with an audience that has absolutely no idea who they are. That’s why it’s so expensive. Once the brand is established and a portion of the market is brand-conscious that number drops significantly.
SHOW LESS
217 episodes
Share
