Get Our Guide to Demystifying the Math Behind Marketing Spend
John Wanamaker famously said, “Half of my advertising budget is wasted. The trouble is, I don’t know which half.”
Less famously, that same thought may have been said by you, too.
We feel you. After all, you’re well aware that you need to set aside some amount of time and money for your company’s marketing. But what percentage of revenue should you budget for marketing? And what channels and/or tactics should you prioritize?
There are many schools of thought when it comes to a magic number. There’s the old 7-to-8-Percent-of-Your-Gross-Revenue Rule, the 10-to-12-Percent-of-Net-Profit-Margin Model, and even the 10-Percent-of-Gross-Sales guideline.
But any one-budget-fits-all mindset can be a trap. For instance, what do you budget for a company in its growth phase versus one that’s already well-established? And what happens when a new competitor starts eating at your marketing share. So much for shortcuts, right?
The good news is that there is a way to demystify the math behind what your marketing budget should be – and we have it.
Click here to download our handy Guide to Your Magic Marketing Spend.