Marketing Minute: Budgets

Today we’re talking about budgets, specifically marketing budgets. Not many people get excited when talking about numbers and money, but it’s a very important aspect of business. Successful businesses have budgets that include marketing.

Let’s keep this simple. Look at what you spent on marketing last year and set aside a dollar figure for the amount you’re going to spend this year. Look critically at what worked last year and stop any advertising that didn’t work. Check your budget numbers monthly and stick to your plan. Having a budget will help you spend you’re advertising dollars wisely and prevent impulse buys. Take a good look at your marketing numbers this week and fine tune them to do even better!

For a more in depth take on creating a solid marketing budget, check out this article written by Dave Lavinsky for Forbes magazine.
http://www.forbes.com/sites/davelavinsky/2013/06/07/three-steps-to-a-solid-marketing-budget/