In the simplest terms, your marketing budget should be a percentage of your revenue.
The U.S. Small Business Administration recommends spending 7 to 8 percent of your gross revenue for marketing and advertising if you’re doing less than $5 million a year in sales and your net profit margin – after all expenses – is in the 10 percent to 12 percent range.
How to maximize your marketing budget
Three key ways to attract new clients using marketing
The key to keeping marketing spend low while getting the most bang for your buck is to prioritize how you spend your budget. The three key ways to attract new clients or customers. They are, in order of priority:
Word Of Mouth Referrals
There is no marketing tactic more powerful than one person telling another person how terrific your business is. Word of mouth referrals will always b