How to Secure Enough Budget for Your Business’s Marketing Needs That Gets REAL Results
by Gemma Agnew
You may have a fantastic product or service but it if people don’t know about it, it won’t sell, regardless of how good it is– simply put, because people don’t know about it or about your business you won’t receive the leads or sales you desire. This is why marketing is essential. Business marketing can be ideally divided into two parts:
1. Brand Development
2. Business Promotion
Both go hand in hand. One wouldn’t work without the other. But when it comes to business marketing, most businesses (not the established ones) find themselves on the fence at the time of deciding a secure enough budget for it. The phenomenon is challenging but not quite impossible to achieve. Here’s how you can manage it:
1. Don’t just allocate a specific percentage of projected or actual revenues to the marketing budget.
2. Consider the growth stage of your business, the actual size of your business, and the industry you operate in. if you’re currently at a stage where you’re building your brand, you will need a higher budget (almost up to 20% of revenues) than a similar business that is already recognised in the market.
3. If your annual revenues are less than the industry average, keep around 7 to 8% of that for your marketing. Split it properly between brand development and business promotion.
4. It is always ideal to keep a contingency margin for your marketing budget so that you don’t completely run out of funds in the middle of your campaign.
5. Besides setting your specific marketing goals, deciding on a budget is the first step. The more important part is, knowing how to spend it wisely. With a limited business marketing budget, you want to get the most out of each dollar spent.
6. Devise a plan with marketing strategies that expand your customer outreach for the lowest possible cost. It is important to remember that securing enough marketing budget and spending it wisely should be followed by keeping track of the progress.
7. You need to have a measure of effectiveness for your marketing strategy. You need to regularly revisit the ROI scores of the amount spent on business marketing and make adjustments to the strategy as and when required. Marketing is a beast that is always hungry. You need to feed it – a lot. What you need is ample creativity, consistent hard work, and the best guaranteed services to make your marketing plan effective.
What Do We Mean By “REAL Results”?
You can’t obviously spend all your time on marketing your business – if you do, who’s going to run it then? Many small and medium enterprises find it challenging to run the day-to-day business activities alongside managing a robust marketing plan. This is where marketing agencies come in. Most offer marketing services that guarantee results. How would you know which of them is the best one? Check to see if they provide the following:
Complimentary Consultation and Strategy Planning Sessions. They should be interested in understanding your business and its needs. They should listen to what you wish to achieve through marketing and advise you on the same.
Exceptional Customer Service. Middle of the night or well into the business hours, your service provider should be available round the clock. Features like ticket submissions, live chats, and 24/7 customer service can help you get the best for your money.
Tailored services. The best out there will always customise their services to suit the uniqueness of your business and marketing needs. If they don’t, look for another service provider.
When it comes to online marketing, Write Marketing Corp , check all the above mentioned traits and are one of the top global digital agency that get REAL results, 100% Customer Satisfaction Guaranteed.
Write Marketing Corp analyse your business, plan an effective online marketing strategy or other strategy relevant to the service you require, implement it, and monitor its progress on your behalf.
February 25, 2018
January 28, 2018