Marketing is a crucial aspect to building any small business, so just like any other business component it needs its own budget. This will allow an organization to know how much it can spend on marketing efforts and in turn what tools can be purchase.
To start off, set an amount per month that fits into the overall business budget, meaning make sure it’s an amount that’s actually doable not an ‘over the top’ figure. Even a small amount of say $30/month could be beneficial as there are many marketing tools that are relatively cheap and budget friendly.
Next, go through current marketing expenses and factor those into the budget. For instance, some things that would qualify are website hosting, marketing workshops, email programs or anything that is used for marketing purposes.
Finally, write it all down and stick to it! If new expenses come up make sure to add them in and re-budget if necessary.
For more information on marketing budgets or help with setting one contact us at email@example.com.