Marketing Budget

19 May 2017

3 Questions To Ask Before Cutting The Marketing Budget

By | 2017-05-19T12:49:17+00:00 May 19th, 2017|Categories: Business Strategy, Doug's Blog, Marketing|Tags: , , , , , , , , , , , , |

Team Meeting - Questions For Marketing Budget

Most starting and early growth entrepreneurs are focused on costs. Shifting your mindset about marketing budget can change your results dramatically. These 3 questions help you do that.

The First Questions People Normally Ask

If you own a business and someone says you should use some powerful integrated marketing software that costs $800 per month – what is your first thought?

If an online marketing firm comes to you with a proposal to increase traffic and lead generation from your website and it will cost $4,000 a month […]

27 Jul 2009

Marketing Budget Allocation For Results

By | 2017-06-06T16:06:43+00:00 July 27th, 2009|Categories: Business Strategy, Doug's Blog, Marketing, Sales|Tags: , , , , , , , , , , , , , , , |

Marketing Budget Allocation - Make Money

As per the last two posts (The Value of a New Customer and Marketing Budget 101) I talked about one way of determining your marketing/sales budget.

If you want a simpler method, allocate a percentage of total revenue.

Now the question is where to spend your money for maximum effect.

There are basically four sources of future sales:

  • Existing customers,
  • Referrals (word of mouth),
  • Prospecting, cold calling and networking, and
  • New leads from marketing.

You will want to allocate funding (or effort) to […]

22 Jul 2009

The Lifetime Value of a New Customer

By | 2017-06-08T20:46:14+00:00 July 22nd, 2009|Categories: Business Strategy, Doug's Blog, Marketing, Sales|Tags: , , , , , |

One of things you need to do for your business is to determine the lifetime value of a customer or client. This is the lifetime income from that customer to your business and should include factors such as:

  • Amount spent per year (minimum, maximum and average) on your products or services,
  • Expected duration of relationship (min, max and average),
  • If you have multiple levels of products/services you will also need to consider the likelihood of moving them up the value chain.

Now determine the fixed and variable costs in delivery your product or service. Fixed costs are those that you have regardless […]