The new year will be here before we know it and if you have yet to establish your marketing goals or set a budget, it’s imperative to put time aside to determine your 2022 plan. When it comes to your marketing expenses, you will want to make sure that you are investing in the right areas that your company needs in order to meet your set goals. Whether your business could use a new website that is more user-friendly or you would like to extend your reach by being active on social media, regardless of the marketing efforts you wish to invest in for 2022, a spending plan should be put in place. For expert advice on how much you should be spending on your marketing tactics, keep on reading!

Budget Breakdown: The 5% Rule and Building Your Marketing Foundation

When it comes to creating the best marketing budget for your business, there’s one important rule you should use as a basis of your plan: The 5% Rule. Simply put, you should be spending anywhere from 2% to no more than 5% of your sales revenue on your marketing budget. While it may seem like too small of a percentage to make a lasting impact, it is a reasonable amount that can go a long way when invested in the right areas. While some years your business may require extra expenses to assist with marketing your brand, a 5% spending budget will grant your company the ability to showcase your services without breaking the bank. 

What your spending costs really come down to is the strength of your marketing foundation, which consists of your brand, marketing strategy, website design, and other interrelated elements critical to your success. If your website lacks the necessary tools and technology that makes the user experience positive, for example, you are directly turning away your customers. If you decided to spend your budget on a radio spot instead, without ensuring your marketing foundation is properly accounted for, you can end up wasting your marketing dollars. We highly recommend utilizing The 5% Rule as a starting point to make sure your marketing foundation is strong!

How beMarketing Can Bring Your 2022 Marketing Goals To Life

Here at beMarketing, we believe that in order to make the most of your marketing efforts, it starts with your story. Instead of simply projecting your services to the world, our marketing strategy involves telling your story and what makes your brand stand out from the rest. Once we dive into great detail about your company, the rest follows suit in attracting your audience base to get the traffic you deserve. From eye-capturing logo creations to evaluating the strength of your current brand, you can count on our team at beMarketing to craft the right marketing plan for your business that will make your choice to work with us worthwhile. 

Need Help Building the Optimal Marketing Budget For You?

Our helpful team at The Hive would be more than happy to assist you with building the best budget that meets your needs without overspending. For more information about our elite marketing services or to speak with a member at The Hive, please contact us today or call (484) 261-1149.