Wednesday, September 12, 2007

What should you spend on marketing?

Marketing Profs had a great newsletter recently about budgeting for marketing. The basic point was that every business is different, but you should be able to figure out not only your marketing objectives (how much do you want to make this year? how do you want to reach your market?) but costs for three distinct areas:

  • The one-time start-up expenses (my note: this should include properly positioning and branding your business, as well as creating a website and the basic marketing materials you'll need)

  • Amount needed to successfully market the product (my note: this should include things like monthly advertising, e-mail newsletters, trade shows, etc.)

  • Fixed costs that will be incurred while achieving the objectives. (my note: this should include things like web hosting, e-newsletter services, marketing/salesperson salaries, etc.)

The full newsletter is here.

1 comment:

Michelle Lynne Goodfellow said...

Thanks for the link to the article, Dani. It fits right in with the research I was doing recently before giving a talk to a profesional group on the subject of low-cost marketing techniques. See some of my own suggestions on my "tell it well" blog:

You have a beautiful-looking blog, BTW... :)