Setting Your Marketing Budget

Setting Your Marketing Budget
One of the most common questions I get asked is: “how much money should I spend on marketing?” Well… there is no single answer to this question. Your marketing budget is based on your business goals and your annual growth strategy.
If you have more business than you can handle right now, it is important to have a strategy that maintains your brand awareness so when you are ready to find more clients, it’s not the: ‘out of sight, out of mind’ phenomenon.
Marketing to keep your pipeline full contains a strategy to gain new clients, as well as keeping and growing the work you do with existing clients. Reaching out to past clients who already know and like you is an effective tactic for quick revenue as the sales cycle will be much shorter.
With a growth strategy, marketing to gain new clients is not only about brand awareness, it’s about clarifying how you will help them, and how easy you are to work with. This is where storytelling and utilizing your network/centers of influence become the foundation of your marketing plan.
And remember, today’s decision-makers don’t want to just hear from you, they want to hear from your clients, so testimonial and referral strategies are imperative.
It’s never too late to create your marketing strategies. Not sure where to start? I am happy to help. There are benefits to a #rebelmindset!
Lisa Raebel