How is your Marketing Budget impacting your Small Business?

How well are you utilizing your Small Business Marketing Budget?

Many times we speak with small business owners, who have their vision set and have the ambition to strive towards the goals they set, yet something is constraining their business. They overlook how their marketing budget is impacting their small business.

When consulting with businesses we help figure out what that constraint is, and more often than not, we find that there is a disconnect between the realistic marketing budget, and the operational capacity of the business.

What we mean is, your marketing objective might be to increase sales by 10%. And the marketing budget might not be large enough to make that impact.

As a business owner you have to become aware of the Marketing Budget impacting your Small Business.

Let’s say your monthly small business marketing budget is $400/month, plus additional spend for one designated promotion per quarter.

How could you use that $400 marketing budget to meet your marketing objectives?

• Digital marketing spend ( which equates to $13/day ad spend)
• Pay a copywriter to write a sales letter
• Pay a graphic designer to create a logo, a business card, a rack card, a flyer to market your business, 
• Pay a printer to print the marketing assets to market your business
• A deposit on a large event as a vendor OR as an attendee

What is most advantageous for your small business right now?

What can help move you towards to the next step?

As an example, maybe your next steps are:

• You’re allocating the marketing budget to find a graphic designer to make your logo because you’re just getting started.
• The marketing budget is allocated towards digital ad spend because your invested into building brand awareness on specific social media channels.
• It’s paying a deposit as a vendor spot, because you’re in your 3rd – 5th year of operating your business and you know specific events help you gain visibility and sales by introducing your product to a new audience.
• It’s paying a consultant to help guide you through what you’re needing to do because you feel stuck and aren’t quite sure..

Growing your business is going to require you digging in to figure this out. Above all, be accountable to developing your business in the areas it needs right now. So that your small business can reach that next growth level that you’re working to achieve.

Are you wanting to brainstorm on how you can best use your Marketing budget?

Then book your FREE Marketing Strategy call!  Check out our schedule here!