Figuring out the value and the cost of marketing efforts is elusive – and it often gets put on the back burner as a result.
Determining a marketing budget can be frustrating. Are you investing enough? Are your marketing dollars being applied in the most efficient way? How do you know if what you’re doing is working?
There are subjective answers that are easily disprovable from one budget period to another. What worked last year isn’t necessarily going to work this year. What works for one type of client may not work for another.
Lou Covey, the principal of Footwasher Media Agency, has decades of experience helping clients hit that marketing budget “sweet spot.” In this Agency Perspective from SharpSpring, he shares two simple equations that can take a lot of the guesswork out of the budgeting process. Get it now to learn:
- how to use these equations for your own marketing efforts.
- why it’s important to factor in more than just expenditures.
- how much you should be spending to ensure steady growth.