Whether you are just starting a business or your company has been around for three to even thirty years, not knowing how much to budget for marketing is a problem that plagues business owners. But, what if you could confidently plan and budget for marketing?
When posing the question “How much should I budget for marketing?”, business owners are met with a myriad of answers…
- It varies by industry.
- It depends on your business size.
- It is based on how much you want to grow, and how fast.
- It should be between 2% and 10% plus of your sales.
- It depends on if you are B2B or B2C.
Sound familiar? While there is some truth to all of those answers, the many variables often leave business owners feeling like they are pulling numbers out of mid-air when trying to budget for marketing. This is a real problem when an owner is trying to write a business plan, get a business loan, attract investors, manage cash flow or simply plan for the future.
Even worse, some companies operate with no plan or budget for marketing. This puts business owners in an extremely vulnerable situation. They often react to whatever opportunity comes their way and end up getting into contracts for advertising that isn’t effective, hiring people who aren’t skilled enough to handle the multiple facets of marketing, skipping over important steps like clearly defined branding and so on. The result?... misspending, overspending or even underspending.
Knowing how much money to allocate for marketing is one of the most important decisions that a small to mid-size business has to make, and Rooted ID can take the guesswork out of this for you. Over the past eight years, our team has fine tuned our processes and standardized our pricing. As such, we have a proprietary approach that enables companies to improve brand identity, increase brand awareness and receive ongoing marketing support for what many agencies charge for just a website. For most businesses, a budget of $15,000 per year will cover the unique marketing strategies that we recommend for their brand (including peripheral costs like professional printing, website hosting and Facebook advertising). Obviously, this amount could be more or less depending on a company’s specific needs and preferences.*
Rooted ID is a smart solution for startups and established brands alike. For what you would easily pay a part-time employee with limited marketing experience (necessitating the need to bring in other resources and spend even more money), you will get direct access to a small team of experienced designers, copywriters and marketing coordinators. Our process ties all work to specific deliverables which helps to ensure that you are spending marketing dollars wisely.
Hiring a qualified marketing agency should be a financially realistic option for growing businesses. Rooted ID was founded on that premise in 2010, and our commitments to affordability, quality creative work and practical solutions still ring true. To learn what a $15,000 annual marketing budget could do for your business, fill out the form below to request a complimentary meeting or call.
Our clients meet us at different stages in their business, and our process has helped many owners over the years. We encourage you to read our case studies, view our portfolio and check out our online reviews.
*We frequently work with clients with smaller budgets and love the challenge of stretching their marketing dollars! If you are interested in learning more about our solutions but know that you cannot yet afford our recommended marketing budget, please don’t hesitate to reach out. We can likely serve you simply by scaling back on the number of deliverables.