What is the average marketing budget?

The Basics of Marketing Budgets


There are two parts to this question. First, what is the average marketing budget for a small business?Second, how do you determine the right marketing budget?It is not uncommon for many small businesses to be under-budgeted in their marketing budgets.

That’s because they don’t understand the basics of marketing and other basic aspects of running a business. You need to get up to speed on some basics and learn how to set budgets.


Tips to Reduce Wasted Ad Spend


While there is a lot of information out there on marketing and budgets, it is typically confusing, contradictory and hard to apply to small businesses.

So, here are a few tips that can help you make the best use of your marketing resources:

1. Look at the typical budget for your business.

2. Calculate what you spend on marketing per month or per year.

3. Don’t waste your money! In most cases, if you don’t spend more money than you get back in revenue each month, then you should be doing fine with your marketing efforts.

4. A little bit more budget with less waste is better than more budget with more waste (although it’s still best not to pay too much for any given project). In general, it’s best to use a budget that allows one to avoid spending money unnecessarily and/or overpay for services that may be unnecessary or not worth the money spent.

5. The way to plan for things like administrative expenses will likely vary from business to business depending on size and scope of the operations of the business;

If you plan on hiring someone else in order to do this work yourself unless they’re really cheap then it would almost definitely cost at least $50-100/hour (about 1-2/hr). If you’re doing this yourself, then yes, expect yourself or someone else in your team to spend $10-20/hr on this work.

If an employee has a job title as “copywriter”, expect him or her to spend $10-$20/hr on their own work unless it’s really cheap (like free). I want some free Microsoft Office so fire up Microsoft Word and start typing something up! “Copywriting” is the world’s most expensive word processing application; I’m sure you’ll think I’m nuts! 🙂


Conclusion


As we have seen, marketing budgets are not easy to determine. There are many different factors to consider when making a decision, but the most important one is the total amount of money you spend on marketing.

A good rule of thumb is that if your sales could add up to more than a certain amount (or you’re adding more than a certain amount to sales), then you must be spending an average of at least $1.00 per sale on marketing—it is also helpful to keep track of your top 3 or 4 customers and use this as a benchmark for your own budgeting.

You may want to use this information if you’re running a small business or are considering launching one, as it will help you think about how much money should go toward marketing and how much should go into developing products that customers actually want.