Determining Your Marketing Budget
Description
In this episode of We Do The Work, we dive into one of the most important decisions every business owner faces: How much should you spend on marketing?
Whether youβre in a maintenance phase or ready for growth, understanding where to spend your time, energy, effort, and money can make or break your strategy.
Join us as we cover:
- π Determining Your Marketing Phase: Are you in maintenance or growth mode?
- π° Spending Benchmarks: Why the SBA recommends allocating 8%-10% of your revenue to marketing.
- π Adapting to 2024 Costs: Marketing isnβt what it was in 2019βlearn why $500/month is no longer enough.
- π Reverse Engineering Your Budget: From CPL (Cost Per Lead) to LTV (Lifetime Value), we break down the metrics that matter.
- ποΈ Seasonality Insights: How to adjust your spend during slow or peak times in your industry.
- π― Making Magic with Ads: The ideal daily budget for Facebook and Google Ads to generate real results.
This episode will help you create a data-driven marketing budget that drives measurable outcomes. Youβll also learn how to navigate seasonality, track attribution, and ensure your efforts align with your goals.
π‘ Pro Tip: The cost of marketing has risen, but so has the opportunity. Smart spending today can lead to exponential growth tomorrow!
π Tune in now and take the guesswork out of your marketing budget!