Our marketing budget for 2012
One of our key marketing challenges is setting the budget. It can be as big or as little as we want. For a few thousand pounds a year we could accomplish quite a bit. With the internet, our shop window can be viewed all around the world for what is a relatively small investment. Add into that some pay per click advertising, and we will elevate our self to the top of any Google rankings.
The budget can just grow from there. Whilst I view advertising as a waste of time, a mailing campaign can produce results, but will the results be greater or less than the cost? Going back to online advertising, we are looking into the benefits of a You Tube channel. This again needs serious investment into the creation of video clips.
Setting this budget is a problem that most business leaders will have. If I knew that every £1.00 I spent brought back a minimum of £1.00, I would spend £1m. However, we do not know this and there will be a natural tipping point. Be it I do not know what the budget will be for next year, I do know it will be greater than 2011 and we do need to take a few more risks here and be more adventurous.
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