This is a question that all businesses, great and small, must ask themselves at various points in their existence. In an effort to maximize engagement and reach as many customers as possible, it’s critical to have at least some kind of marketing apparatus; however, if you’re a start-up or a smaller mom-and-pop shop, you may not be able to budget for all the bells and whistles just yet. The good news is, there are plenty of ways to leverage your presence and brand to attract more customers. This starts with taking a good, hard look at your objectives, budget and long-term goals.
Whether you want to run a television ad campaign on a local media affiliate, create some billboard buzz on the highway, reach out through radio or conquer the digital marketing space, you need the right ally to help you tie all your objectives together and use one to bolster the other. Developing a cohesive an integrated campaign will solidify your brand and embed your messaging in the conscience of legions of potential customers. You don’t have to break the bank to make your presence known. You know intuitively what works and what won’t for your business…so just trust your instincts.
So exactly how much should you spend on marketing? The U.S. Small Business Administration recommends spending 7 to 8 percent of your gross revenue for marketing and advertising if you’re doing less than $5 million a year in sales and your net profit margin — after all expenses — is in the 10 percent to 12 percent range. It’s not exactly realistic, however, to assume that all businesses cash flow and marketing budgets are identical. The first thing to do is identify your available resources and leverage them toward realistic and measurable marketing goals. You don’t have to go broke trying to make money.
Octo Design Group will be happy to help you assess your immediate and long-term marketing objectives and identify which options work best for your budget. Call us today at (215) 940-8280. Our team looks forward to hearing from you.