7.pdf This presentation captures many uses and the significance of the number...
Marketing Budget Captive Touch, Open Social Media Intitiative
1. Open Social Media Initiative
An educational workshop by…
“Learn how to create a budget for
your marketing initiatives”
Friday, February 8, 2013
2. Budgeting boils down
to Mathematics
randy bowden
principal partner | bowden2bowden llc
3. Market Niche
What/who is your target audience?
Who buys your product/service
How do you reach this audience?
TV
Radio
Print
Billboard
Internet
Can you afford to use any of these avenues?
4. Competition
How will your competition advertise?
How competitive were they last year?
If you feel left out, it’s time to step it up!
5. Past 2 Future
What has worked in the past
What didn’t work in the past
6. Budget
Last year’s sales figures
What was spent last year and did it increase sales?
Increase in growth, replicate last year with few tweaks
Decrease in growth, reassess marketing approach
Compare to industry averages
10% - 20% (gross revenue)
7. Budget
Dedicate about 10% of revenue to marketing.
16% - 5-6%
23% - over 6%.
New business/products - 20% of projected revenues.
8. Time + Investment = ROI
Dedicate 20% of your time to sales and
marketing.
2 hours per day or a day a week. Included in this time are
cultivating relationships via social media and networking.
Expect $10 in additional revenue for
every dollar spent.
Marketing is an investment in your business so, expect a
significant ROI for time and effort.