Page 8 - Complete Guide to Marketing Budgets
P. 8
HOW TO CREATE A MARKETING
BUDGET IN 8 STEPS
Let’s look at the easy steps you can take to create your marketing budget:
1. Organize your financial 2. Assess your marketing
information goals
First off, you’ll want to take stock of your Looking at the current state of your business
current financial information and gather all first will help bring clarity to this next step:
your necessary documentation to understand identifying your marketing goals. Knowing
your current business costs and finances. what you need to improve on will help bring to
light which marketing strategies could be the
This will set you up for best fit and how you’ll support them with your
marketing budget.
success later and make the
When you’re setting your marketing budget
whole marketing budget goals, try to stick to our SMART goal template
planning process easier. below to keep yourself on track.
For example, one of your SMART goals could
During this step, you may need to consult with be to grow your Instagram following by 5% in
your accountant or financial planner to pull 30 days through weekly video posts.
sales or revenue forecasts or look at your past
years’ revenue to understand what might be
realistic for your marketing budget.
Your Complete Marketing Budget Breakdown 8
