How Much Should Your Business Spend on Marketing?

Creating a marketing budget can be a daunting task, especially in a world where there are marketing opportunities virtually everywhere you look.

Without a clear budget and plan, how will you know what to invest in and when? Between branding, traditional advertising, PR, social media, blogging, SEO, email marketing and the many other tactics businesses are utilizing to gain a marketing edge, decision makers are often pulled too far in the direction of the last marketing article they read. They impulsively and open-endedly pour money into one tactic, not realizing “the big picture” that is marketing.

Upstart Group typically recommends a marketing budget of 3-8 percent of projected gross revenues, with both the foundational investment and tactical activities varying based on business objectives, goals and positioning. For example, a business that has already developed a marketing foundation (brand messaging, website, marketing automation, etc.) might budget for ongoing lead generation, while a new startup will need to make significant investment in building that foundation. Additionally, the established business might invest in launching a new program or entering a new market.

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Read more about creating, implementing, measuring and adjusting your marketing budget in our Let's Talk Money series: