How to Plan a Marketing Budget

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Ask Yourself These Questions

Transcript from the video:

:
Cha ching! Cha ching! Cha ching! Yep, it’s that time again to start thinking about your marketing budget for next year. This is Your Marketing Minute from Forward Push and let’s dive in.

I’ve got the four things I want you to start thinking about.

One, your company goals. Is it aligned with your marketing goals and strategy? Is everything in sync? This is going to help you make sure that you don’t overspend or underspend.

Secondly, when thinking about your marketing budget, consider internal investment costs, like labor. Are you gonna have anyone on your team doing the work or even if it’s yourself. What is your rate and what is your cost to your marketing budget?

Third, external investments, right? This is going to be software that you might use. Maybe that’s something to help you design your images. Maybe that is a posting software. Maybe that’s working with an agency – that’s going to be some external investments that you’re going to have that you need to consider when you’re thinking about your budget for next year.

And lastly, you need to take a look at your current performance. Really, what’s been working and what hasn’t been working? What could you spend a little bit more on to make it work. And what could you spend a little less on to make it work even better? So four things that you need to consider while you are thinking about your marketing budget for next year.

This has been Your Marketing Minute from Forward Push.

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