One Critical Thing Your Marketing is Missing
Jun 16, 2022•7 min•Season 3Ep. 117
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Episode description
Learn why your small business needs a marketing budget and how to create one.
To grow a business, you need income or influence. You'll either pay to reach your target audience through advertising or you need influence; a network that allows you to reach them organically.
What is a recommended marketing budget?
For B2B: 2-5% of gross revenue
For B2C: 5-10% of gross revenue
How to build your budget:
- research your industry
- set clear goals
- know what you should spend on each marketing strategy
Action step to take today: do the math and figure out how much you should be spending on marketing each year.
Music: Tuesday by Sascha Ende, Music.io
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