So, you’re ready to level up your brand, but there’s that one question hanging over your head: “How the heck do I figure out my marketing budget?”
Don’t worry—we’ve got your back. Let’s cut through the noise and make this as simple as your morning coffee.
Why Your Marketing Budget Matters
First off, let’s get real about why this is crucial. Your marketing budget is more than just numbers on a spreadsheet. It’s your game plan, your blueprint for success.
Without it, you’re basically trying to navigate a maze blindfolded. So, let’s get that blindfold off and those numbers right.
Step 1: Know Your Goals
Before we even talk about dollars, let’s talk about goals. What are you aiming to achieve? More leads? Brand awareness? Customer retention?
Your goals will shape your budget. For example, if you’re looking to boost brand awareness, you might need a bigger chunk of your budget for advertising and social media campaigns.
But hold up—don’t skip crucial steps by diving straight into lead generation without solid brand awareness. Strong chances are, it won’t work.
Customer acquisition funnels aren’t just fun buzzwords; they’re based on real user behaviours.
Failed campaigns won’t just fall flat—they’ll end up costing you more. Trust us, taking the time to build a strong foundation pays off big time.
Step 2: Industry Benchmarks
Now that you know what you want, let’s see what others in your industry are doing.
Generally, companies spend between 5-12% of their revenue on marketing.
But don’t just blindly follow the herd. Use this as a guideline and adjust based on your unique goals and circumstances.
Pro Tip: Check out the latest CMO Survey for the freshest insights on industry marketing spend, or take a quick glance at the SEMrush chart below.
Read the rest of this story on the Csek Creative website here.
