If you think of marketing as an expense, your mindset should shift. Marketing isn’t a cost – it’s an investment that should be boosting both your revenue and business goals.

It’s very common to use a percentage of revenue as a guide for how much to invest. The SBA recommends investing 7 to 8 percent of your gross revenue on marketing. This percentage can vary drastically with each business though; it typically increases if you’re new in an industry, looking to expand, targeting consumers versus businesses, or are in a competitive market. For example, a business expanding into a new territory that’s focused on building their brand might spend up to 20% of revenue on marketing, much more than an already established company trying to maintain their current state of business.

No matter what you’re investing, you can maximize success in a two key ways:

1. Develop a marketing plan and revisit it often so your marketing spend is on-track and going towards areas of the most value.
2. Track the ROI and success of marketing.

A fresh perspective can help you identify both your budget, goals, and plan when it comes to marketing. Contact us today to schedule your free consultation.