Creating an Effective Marketing Budget

A Brighter Web | Grow your business with digital marketing

Effecitve marketing requires an investment. For a business, this means creating and spending a marketing budget. But how much should you spend on marketing, and what return should you expect? There’s no one answer, so let’s examine the right approach.

Where do I start with my marketing budget?

• Figure out what you’ve spent to this point.
• Create a document to track everything and work with your accounting team.
• Develop an ideal budget for what you’d like to spend.
• Think big and work backward to what is realistic.

How much should I be spending on marketing?

• There’s no one right answer.
• It’s all about what’s most valuable to your business.
• This is much more than just advertising.

What categories should I consider?

• Marketing software/tech stack
• Content creation
• Advertising
• Networking events
• Sponsorships

How do I expand my marketing budget?

• Measure the ROI for what you’re seeing in return.
• Determine your most effective channels and increase there first.
• Look at the spend as an experiment—try something new and see if it works.
• Get your leadership’s buy-in so they understand the value.