Marketing Budget = all costs for marketing, advertising, public relations, promotions, digital advertising, website design…..I think you get the idea.
2018 is almost here and if you haven’t decided on your marketing budget for next year, start TODAY!
As a marketing company, we are often asked how to create a marketing budget and where to invest that budget. There is a general rule to spend 2-5% of your sales revenue on marketing. Where to invest that budget differs per company. The key is finding the right mix for your business.
Don’t fall into the trap that is often pushed by media sellers, “Your competitors are doing this and so should you!”
Sometimes your competition comes up with great ideas, but that doesn’t mean to follow everything that they are doing. Perhaps the customers that they are attracting aren’t even your ideal customer! Find out who your ideal customer is, what they do in their spare time and how to catch their attention. If you are after a higher end consumer who appreciates high quality over discounts and coupons, you wouldn’t reach them by advertising in a distributed coupon book. Know your customer!
Ready to discuss your marketing budget and how RPS Creative Group can help you? Call us today at (515) 528-1898 or email us at info@RPSbrands.com