How to set up a marketing budget
You can set up your marketing budget in different ways
You can calculate the exact amount you will spend on marketing, or you can estimate a number (hopefully close to reality). One thing is important: HAVE a number in your head and in your notebook that you can calculate with.
How much does a customer cost?
If you have been doing marketing for several years or months, you can simply check out the numbers from previous months (I already talked about the value of measuring results – this is one benefit of measuring: you get exact numbers on how successful your marketing system is). Just divide the cost you spent on marketing by the number of sold products or the number of new customers. This allows you to calculate exactly how much it costs to sell a service, or get a new customer.
Now, multiply this number with the desired number of sessions or new clients in the next month or year. This is your marketing budget.
How much to spend on different marketing campaigns?
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