4 Essential Business Marketing Budget Tips
I know, I know: we haven’t even reached Halloween yet, let alone the holidays. But stay with me. Because if you’re a fellow entrepreneur, now is the time to start thinking about your business goals.
Business goals start with marketing. And marketing starts with a plan. Start planning early, and you set yourself up ahead of your competition, so you’re ready to hit the ground running .
Having the right marketing plan can make or break your business (I know – I’ve seen it both ways). Here are my top 4 recommendations for delegating your marketing funds
4 Business Marketing Budget Tips
#1: Set Your Budget
First things first: do you have a marketing budget? If not, then set one (pronto!). It’s pretty tough to create a successful business if you have no money to spend on that business.
Set a budget that you think will afford you enough money to grow your business. And don’t worry. Your marketing budget can be on the small side – it all depends on where you are at with your business, and how quickly and how far you want to escalate.
#2: Improve Yourself
It doesn’t matter where you are in your business. There’s always something more that you can be learning. So first plan to invest some of your marketing budget in your own education and expertise. Update your professional growth and expand your knowledge base, so you grow as your business does.
For example, in my own business, we deal in branding and graphic design, online marketing, custom web development, and more, and our industry is constantly changing. So I need to continually learn new skills along with updating the skills I already have. Every year, I take courses, I read books, and I make an effort to learn as much as I can, so I can share that expertise with my clients.
Think about what you can be learning in your industry, regardless of what it is. By improving on your expertise, you are also improving your business and its potential to grow.
Invest some of your budget in yourself, because the more you are an expert in your field, the more you will shine above your competitors.
#3: Attend Live Events
Another thing to consider is attending live events that pertain to your business.
These are great not only for learning from the speakers but also for meeting new people who work in your industry.
You’ll meet great people, hand out cards, and make new connections, all while learning from experts in your field and doing critical market research.
Of course, the pandemic has changed live events a bit. Lots of events have gone online – which can be a good thing, as you can now access lots more relevant events without having to travel.
But still, try to look for relevant speaking events in your area. As long as it’s done safely, meeting people ‘in real life’ can be incredibly powerful.
So allocate some of your marketing budget and try to attend at least one event in! I always have a great time at networking events and meet lots of interesting people who help me grow.
#4: Business Marketing
Lastly, we have the on-the-ground marketing itself. This is your SEO, your social media, your social media ads, your search engine ads, and your content marketing.
This is an area where so many entrepreneurs get stuck because they think they can learn to do it all themselves. Trust me: that’s unrealistic at best.
Trying to become a marketing expert will waste your time without getting any results. It takes years to become a marketing excerpt – all time that is much better spent focusing on what you do as a business.
I know those courses you see popping up in your newsfeeds are tempting. They make it look so easy! But most people don’t even finish them!
So if you’re considering an online course to learn something quickly, remember that only 10% of people who start an online course actually finish it. And those that do finish rarely come away with something of value.
Instead, use your marketing budget to hire an expert. Just make sure they actually are an expert! Outsource to a reputable source like an established online marketing company. You might also benefit from working with a consultant. Just be sure to vet them thoroughly.
Then once you’ve done your research and found a good fit, trust their experience and expertise, and let them guide you. They’ll likely need some time to understand your branding and messaging, but then let them shine (remembering that organic marketing takes time).
Here’s to your business success in
Susan Friesen, founder of the award-winning web development and digital marketing firm eVision Media, is a Web Specialist, Business & Marketing Consultant, and Social Media Advisor. She works with entrepreneurs who struggle with having the lack of knowledge, skill and support needed to create their online business presence.
As a result of working with Susan and her team, clients feel confident and relieved knowing their online marketing is in trustworthy and caring hands so they can focus on building their business with peace of mind at having a perfect support system in place to guide them every step of the way.