How to Set Your Marketing Budget (A Simple Technique)
How do you think most companies decide on their marketing budget?If your experience is anything like mine, most businesses you know probably do something similar to this:Find a few "hot" marketing channels, throw as much money that 'makes sense' at those channels as they can, then just 'hope' that they come out positive, not knowing whether what they're doing is actually helping GROW their business or not.That'd be like a doctor going into surgery and saying, "Well, we gotta sew this guy's leg back on, and I just found a really cool new brand of Band-Aid, so let's try a few things; hell- throw the Band-Aid in to spice it up- and just hope we kinda land on a way to sew it back on!"Probably wouldn't go see that doctor again. So don't do THAT with your marketing. But also don't do that with your budget. Establishing a marketing budget is about testing, and in this video, I'll give you a few easy ways you can go about arriving at a marketing budget that works for you and your business, and how much it makes sense to invest.