August 03, 2015
A marketing budget is an essential part of your business. A good one will prevent you from overspending and keep you focused on your marketing plan. While we understand that this is a time consuming exercise, it will certainly pay off; it might even be what keeps your business afloat.
If your company has no internal marketing director or department, it can feel overwhelming at first. In order to maximize your results, you have to plan wisely, and take the budgeting process step by step. Marketing is essential to the profitability and growth of any business, but when it is not carefully planned and executed, the risks are high, such as wasting funds or spending less than what is needed to bring about results.
Do not feel intimidated by the prospect of a marketing budget. If you follow these simple steps, you will be on your way to creating a solid plan. While the words ‘marketing budget’ might suggest a fight or flight response, there is really nothing to fear if you plan carefully.