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Episode Details

Episode #



November 9, 2023


12 minutes

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Creating an Effective Marketing Budget

Effecitve marketing requires an investment. For a business, this means creating and spending a marketing budget. But how much should you spend on marketing, and what return should you expect? There’s no one answer, so let’s examine the right approach.

Where do I start with my marketing budget?

  • Figure out what you’ve spent to this point.
  • Create a document to track everything and work with your accounting team.
  • Develop an ideal budget for what you’d like to spend.
  • Think big and work backward to what is realistic.

How much should I be spending on marketing?

  • There’s no one right answer.
  • It’s all about what’s most valuable to your business.
  • This is much more than just advertising.

What categories should I consider?

  • Marketing software/tech stack
  • Content creation
  • Advertising
  • Networking events
  • Sponsorships

How do I expand my marketing budget?

  • Measure the ROI for what you’re seeing in return.
  • Determine your most effective channels and increase there first.
  • Look at the spend as an experiment—try something new and see if it works.
  • Get your leadership’s buy-in so they understand the value.