Mushroom Marketing, for growing companies

Your Marketing Budget

Do you know how much you allocate to your market budget?

You may be surprised to know that the average for one year’s marketing spend is around 6-10% of your estimated annual sales.  Of course, this is the general rule – most industry trade associations publish an average marketing expenditure as a percentage of sales.  For example, start-up businesses would normally need to spend around 10% in order to create awareness; retail firms can spend up to 20%, or an industry that is extremely status- or style-conscious may spend far more.

Don’t forget that if your company is growing dramatically, you’ll need to up your marketing budget to your projected sales rather than base it on your current sales.  Or if you want to introduce a new product or service, it’s important to examine the total market and establish a reasonable goal for your share of that market.  You can then use the projected sales to determine your budget.

 

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