Marketing Budget Allocation For Results
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 […]