Unlock the Secret Formula: 8 Little-Known Steps That Will Revolutionize Your Monthly Marketing Budget and Skyrocket Your ROI
Step 2: Know Your Total Budget and Get Creative
Plan your business finances and work out your total budget available per month. The U.S. Small Business Administration recommends that small businesses spend 7 – 8% of their revenue on marketing if they’re generating less than $5 million annually and have a profit margin in the 10–12% range.
So, if your monthly revenue is $50,000, that means a marketing budget of $3,500–$4,000 is advisable. But remember, this is just a guideline. You’ll need to adjust based on your unique situation, industry, and goals.
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