I recommend working off a % of turnover. This allows you to grow your marketing spend as your business grows and ensures you won't overspend. 4-8% is always a good number.
The more you spend, the better your results (in theory). We have SMME clients that spend R3, 000.00 a month with us, and ones that spend R10,000.00 a month with us. As a publicity based company, our results are measurable against the media value raised against client spend. You CAN do a lot with a little but you need to be smart and strategic about it.
How much money you spend on marketing will depend on a million factors, most notable of which is how much money DO YOU HAVE.
You also need to consider things like: - how long have you been in business (i.e. what stage of business you are in - start-up, established, etc.) - where your customers are - what is the best time to reach them - what is the best way to reach them - what do you want to tell them
I am a marketing and business coach and specialize in assisting entrepreneurs and small businesses with developing marketing strategies that do not break the bank and deliver on the bottom line. If you need more specific assistance, please contact me on jeni.abdul@gmail.com
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