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Many
small businesses look at their
advertising budget as a
"once and a while" expenditure. They'll
allocate some funds (usually
when business is down) and hope for a
advertising miracle.
Haphazard advertising budgets usually
generate erratic results.
While a growing company
shouldn't spend more on marketing than
profits warrant, a consistent budget
will produce consistent results over
time.
There are many factors
that may influence your budget
considerations, such as:
YOUR INDUSTRY, YOUR LOCATION, YOUR
COMPETITION, TIME OF YEAR, etc.
Some business experts recommend 10 to
15% of projected revenues as an
advertising budget for new (or growing)
businesses, however, it's more important to
establish a budget that you are
comfortable with and to be consistent.
Think of your advertising budget as a monthly expense, like
your utility or phone bill, not as an
optional expenditure.
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