What is a Marketing Strategy?
Ready to grow your business? Marketing investment is critical to making this happen!! You are left with a serious dilemma though – “how much do I need to spend on marketing?“
Depending on which stage of business you are currently in can mean all the difference in determining what the right investment needs to be. Before we could be certain on what needs to be spent, we need to understand why we should spend to see its importance and why it matters.
But there are instances where the percentage vs revenue don’t matter that much. For example, if a business is a start-up, it definitely needs to spend more on marketing to attract more customers and build up reputation within its respective industry. Also if you belong to a highly competitive industry or niche, you may need to level up your marketing game.
So how do you know how much to spend on marketing? Well, it depends on your commercial goals for your business and then getting granular on spending the right amount to be in front of the right customers at the right time.
Here at Your Business Live, we ensure your business goes to market with the right marketing plan and investment. Contact our friendly team today and we’ll be glad to support you! Call us at 1300 078 509 or email us at enquiries@yourbusinesslive.com
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