Your marketing budget and plan implementation will be a large part of its success. How you budget will be dependent on how you look at marketing. People who look at marketing as an expense don’t understand what marketing is supposed to do.
The Marketing Budget
If it’s your first year in business, your marketing budget should be high. People don’t know you, and you need to find ways to reach them. Building a business takes money. After the first year, you may have a budget of five to eight percent.
However, marketing needs to be less of an expense and more of a line item for income. If you spend $40,000 in marketing and make $100,000 profit, that’s a pretty good budget. If you spend $20 and get nothing in profits, that is a bad budget. Marketing is only an expense if it doesn’t work.
The Plan Implementation
You’ve put all of this work into your marketing plan; you need to make sure it gets implemented. Make people accountable, including yourself, and take action. If it gets done, it’s better than if it’s perfect. Too often, people want to make things perfect and fail to get them done.
Adapted from “Guerrilla Marketing in 30 Days (affiliate marketing).”