How much should you budget for marketing?

[et_pb_section fb_built=\”1\” admin_label=\”Intro Section\” _builder_version=\”3.26\” custom_padding=\”0px||0px||true\”][et_pb_row column_structure=\”1_3,2_3\” use_custom_gutter=\”on\” gutter_width=\”1\” make_equal=\”on\” admin_label=\”Intro Row\” _builder_version=\”3.26\” custom_padding=\”0px||0px||true|false\”][et_pb_column type=\”1_3\” _builder_version=\”3.25\” custom_padding=\”|||\” custom_padding__hover=\”|||\”][et_pb_text admin_label=\”Post Title\” _builder_version=\”3.19.10\” _dynamic_attributes=\”content\” text_font=\”|700||on|||||\” text_text_color=\”#f36c21\” text_font_size=\”16px\” header_font=\”||||||||\” header_line_height=\”1.6em\” custom_padding=\”2px|||30px\”]@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF90aXRsZSIsInNldHRpbmdzIjp7ImJlZm9yZSI6IiIsImFmdGVyIjoiIn19@[/et_pb_text][et_pb_text _builder_version=\”3.19.10\” _dynamic_attributes=\”content\” text_font=\”|700||on|||||\” text_text_color=\”#576578\” text_line_height=\”1.4em\” header_font=\”|700|||||||\” header_text_color=\”#f36c21\” header_font_size=\”16px\” header_line_height=\”1.2em\” header_2_font=\”|700||on|||||\” header_2_text_color=\”#f36c21\” header_2_font_size=\”16px\” header_2_line_height=\”1.2em\” header_6_font=\”|||on|||||\” header_6_text_color=\”#586579\” header_6_font_size=\”8px\” header_6_line_height=\”1.5em\” custom_margin=\”|14px||\” custom_padding=\”7px|||30px||false\”]@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9jYXRlZ29yaWVzIiwic2V0dGluZ3MiOnsiYmVmb3JlIjoiQ2F0ZWdvcnk6ICIsImFmdGVyIjoiIiwibGlua190b190ZXJtX3BhZ2UiOiJvbiIsInNlcGFyYXRvciI6IiB8ICIsImNhdGVnb3J5X3R5cGUiOiJjYXRlZ29yeSJ9fQ==@[/et_pb_text][et_pb_text _builder_version=\”3.19.5\” _dynamic_attributes=\”content\” text_font=\”|700||on|||||\” text_text_color=\”#576578\” text_line_height=\”1.4em\” header_font=\”|700|||||||\” header_text_color=\”#f36c21\” header_font_size=\”16px\” header_line_height=\”1.2em\” header_2_font=\”|700||on|||||\” header_2_text_color=\”#f36c21\” header_2_font_size=\”16px\” header_2_line_height=\”1.2em\” header_6_font=\”|||on|||||\” header_6_text_color=\”#586579\” header_6_font_size=\”8px\” header_6_line_height=\”1.5em\” custom_margin=\”|14px||\” custom_padding=\”0px|||30px||false\”]@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9kYXRlIiwic2V0dGluZ3MiOnsiYmVmb3JlIjoiRGF0ZTogIiwiYWZ0ZXIiOiIiLCJkYXRlX2Zvcm1hdCI6ImRlZmF1bHQiLCJjdXN0b21fZGF0ZV9mb3JtYXQiOiIifX0=@[/et_pb_text][et_pb_text _builder_version=\”3.19.5\” _dynamic_attributes=\”content\” text_font=\”|700||on|||||\” text_text_color=\”#576578\” text_line_height=\”1.4em\” header_font=\”|700|||||||\” header_text_color=\”#f36c21\” header_font_size=\”16px\” header_line_height=\”1.2em\” header_2_font=\”|700||on|||||\” header_2_text_color=\”#f36c21\” header_2_font_size=\”16px\” header_2_line_height=\”1.2em\” header_6_font=\”|||on|||||\” header_6_text_color=\”#586579\” header_6_font_size=\”8px\” header_6_line_height=\”1.5em\” custom_margin=\”|14px||\” custom_padding=\”0px|||30px||false\”]@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9hdXRob3IiLCJzZXR0aW5ncyI6eyJiZWZvcmUiOiJXcml0ZXI6ICIsImFmdGVyIjoiIiwibmFtZV9mb3JtYXQiOiJkaXNwbGF5X25hbWUiLCJsaW5rIjoib2ZmIiwibGlua19kZXN0aW5hdGlvbiI6ImF1dGhvcl9hcmNoaXZlIn19@[/et_pb_text][/et_pb_column][et_pb_column type=\”2_3\” _builder_version=\”3.25\” custom_padding=\”|||\” custom_padding__hover=\”|||\”][et_pb_text _builder_version=\”3.26\” text_font=\”||||||||\” text_font_size=\”10.5px\” custom_padding=\”0px|20px|0px||true|false\” custom_padding_tablet=\”|||30px\” custom_padding_last_edited=\”on|desktop\”]Marketing is a vital part of any business; without it, you’d never be able to sell your products or services. Marketing, whether done online, in traditional formats or through word-of-mouth, is what tells potential customers about your offering and why they should but your product. It can be confusing to determine how much money you should be spending on marketing every month. In truth, your marketing budget depends on the size of your business and how much money you make. Here are some pointers that will help you determine your monthly marketing budget.[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\”1\” disabled_on=\”off|off|off\” admin_label=\”Featured Image Section\” _builder_version=\”3.23.3\” border_width_top=\”1px\” border_color_top=\”#576578\” border_style_top=\”dotted\” border_color_bottom=\”#576578\” border_style_bottom=\”dotted\” custom_margin=\”10px|30px||30px\” custom_padding=\”10px||0px|||\” global_module=\”7027\”][et_pb_row admin_label=\”Featured Image Row\” _builder_version=\”3.26.3\” _dynamic_attributes=\”background_image\” background_image=\”@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9mZWF0dXJlZF9pbWFnZSIsInNldHRpbmdzIjp7fX0=@\” background_size=\”initial\” border_color_top=\”#576578\” border_style_top=\”dotted\” link_option_url=\”/publishing/book-design/\” custom_css_main_element=\”background-size: 750px;||min-height: 422px;\”][et_pb_column type=\”4_4\” _builder_version=\”3.25\” custom_padding=\”|||\” custom_padding__hover=\”|||\”][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\”1\” _builder_version=\”3.23.3\” custom_padding=\”0px||0px||true\”][et_pb_row _builder_version=\”3.25\” custom_padding=\”12px|30px|0px|30px||true\”][et_pb_column type=\”4_4\” _builder_version=\”3.25\” custom_padding=\”|||\” custom_padding__hover=\”|||\”][et_pb_text ul_item_indent=\”50px\” _builder_version=\”3.26.3\” text_font=\”||||||||\” text_font_size=\”10.5px\” ul_font=\”||||||||\” header_font=\”||||||||\” header_2_font=\”|||on|||||\” header_2_font_size=\”12px\” header_2_line_height=\”1.6em\”]

The size of your business matters

A small startup company shouldn’t worry about investing heavily in marketing. Small businesses can often function without huge sales figures. While your overheads are low and your employees are few, don’t waste valuable income on marketing your offering to a wide audience.

Startups can survive with a few clients. There’s no need to spend money on attracting hundreds of new customers if you can’t meet the demand required and if it means overworking your employees.

Start with a small budget – a couple of hundred rands per month – and then experiment with slightly larger figures until you find the right amount of traction that delivers the results you need. The results don’t need to be profitable at first; you’ll eventually find the right budget that delivers the optimal traction for your startup.

Bigger businesses can spend more money on marketing every month. These companies have many employees and can take on new projects relatively easily. A large organisation can benefit from a big marketing budget as it will drive sales and bring online traffic to its website or ecommerce page.

Double down on the marketing methods that work

Once you find the correct marketing strategies and budgets for your business, double down on those that work. Stop spending money on the marketing tactics that aren’t delivering results and spend a bit more on those that work.

By investing in marketing strategies that are proven to increase sales and online traffic, you will grow your business in the most efficient way. Drop the strategies that don’t seem to help and redirect that portion of the budget to the strategies that show results.

A good marketing strategy will give you decent returns on your investment. Take these returns and reinvest them into your marketing efforts. Eventually you’ll be able to grow your marketing budget into tens, or even hundreds of thousands of rands by following the strategies with the highest returns.

Follow these steps to grow your marketing budget and eventually you’ll find the amount that perfectly suits your business. Keep a close eye on the returns and reinvest them to grow your marketing budget. In turn, your business will grow as well.

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