How Do You Create A Marketing Budget?

Creating a Marketing Budget 

Of all the marketing strategies, digital marketing is the most result-oriented and that applies to all businesses, irrespective of the size. But results can only be generated when a fraction of the business revenue is dedicated to digital marketing. 

Before anyone can calculate the budget needed, careful planning and strategizing must be done. It is important to carefully plan a digital marketing budget so as to get excellent results. Many people think they can invest in marketing campaigns immediately there is a demand for new leads but that is the wrong approach. 

For a buyer, there are just three stages before making a purchase. These are the awareness, consideration and decision stages.

While planning my marketing budget, I take all these points into consideration. I work on all areas that need to be improved upon and then I assess the cost that will get me ideal results from the marketing campaigns. Factors that determine the marketing budget include the company revenue, your position in the industry and the results to be expected from the marketing campaigns. To calculate the budget, last year earnings, timing, and operational costs are considered. Conclusively, once your campaign is able to take the buyer through the three stages and eventually makes a purchase, that is a successful move.

how to create a marketing budgetCourtesy of Lorenzo Gutierrez

Lorenzo Gutierrez
Lorenzo Gutierrezhttps://www.lorenzogutierrez.net/
Lorenzo Gutierrez MBA is a digital marketer from California. He works as a digital marketing consultant helping companies to grow their revenue online with cutting edge digital strategies. His industry experience comes from 2 years working in corporate and 6 years running an agency. Lorenzo has an MBA in Strategy and Management which he received in 2013 from Western Governors University. In regards to his certifications he holds two from Google; one in Google Ads Fundamentals and the other in Google Search Advertising. Lorenzo writes on a wide range of marketing topics for a number of publications. In his spare time, he gardens, hikes and unwinds with some good music. Connect with Lorenzo on any of his social media accounts.
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