Page 5 - Complete Guide to Marketing Budgets

WHY IS A MARKETING

BUDGET IMPORTANT FOR

SMALL BUSINESSES?

While it’s helpful to know what gets included in a marketing budget, taking A marketing
the plunge to allocate funds towards those items can be a challenge for small
businesses. But it’s crucial to complete this step as part of your marketing planning. budget helps

Here are some reasons why:

1. It can inform your budget will yield. This can help you understand you keep

marketing strategy if your marketing is using your budget wisely or
if you need to make adjustments.

With endless options for marketing out there,
it can be difficult to know where to start. Your It also gives you an incentive to track your your strategy
marketing budget gives you the best place progress regularly—you want to see your
to start—because if you know how much you money being put to good use!
can spend on marketing, you can prioritize the
strategies and channels that both fit in your 3. It can help you identify clear and
budget and will drive the best ROI for your
business. areas of optimization
As you spend your marketing budget, you can organized.

2. It helps you keep track of identify which areas of your marketing are
performing well and positively contributing
your results to your ROI and which areas may need a little

If your marketing budget is tied to your help. By keeping track of your marketing
marketing goals, you’ll set specific KPIs around budget, your spend, and your results, you can
the results you’re hoping your marketing easily identify slow leaks you can fix before
they turn into a flood.

Your Complete Marketing Budget Breakdown 5