Marketing budgets, like marketing plans, are the subject of endless speculation. No matter who you ask, or what your situation is, you’re bound to hear that you should be spending more, spending less, or spending things differently.
Today, we’ll take a quick look at that first question: Is it time to increase your marketing budget? There are two clear signs that it probably is:
1. First, that your company is growing or changing. When you’re getting bigger, or changing your business focus, it can take a few extra dollars to get the word out and bring your customers up to speed.
2. Second, that you’ve been seeing a much higher ROI on your marketing campaigns. Likewise, if your campaigns are optimized to the point where you’re seeing a huge ROI, then it makes good business sense to invest more money and see if you can keep getting big returns.
Putting those two situations aside, sometimes you just have to follow a hunch or make a judgment call. Just be sure that you don’t raise your budget so much, or so quickly, that it gets difficult to figure out what kinds of results you’re getting for your money.
If you want the best in marketing advice and strategy, it’s time to talk to the Marcy Design team. Call or email us today to set up a free meeting.