Marketing Budget Captive Touch, Open Social Media Intitiative

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Marketing Budget
Captive Touch-
Open Social Media Initiative
2/813 on Google+ Hangout

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Marketing Budget Captive Touch, Open Social Media Intitiative

  1. 1. Open Social Media Initiative An educational workshop by…“Learn how to create a budget for your marketing initiatives” Friday, February 8, 2013
  2. 2. Budgeting boils down to Mathematics randy bowden principal partner | bowden2bowden llc
  3. 3. Market Niche What/who is your target audience?  Who buys your product/service How do you reach this audience?  TV  Radio  Print  Billboard  Internet Can you afford to use any of these avenues?
  4. 4. Competition How will your competition advertise? How competitive were they last year? If you feel left out, it’s time to step it up!
  5. 5. Past 2 Future What has worked in the past What didn’t work in the past
  6. 6. Budget Last year’s sales figures What was spent last year and did it increase sales?  Increase in growth, replicate last year with few tweaks  Decrease in growth, reassess marketing approach Compare to industry averages  10% - 20% (gross revenue)
  7. 7. Budget Dedicate about 10% of revenue to marketing. 16% - 5-6% 23% - over 6%. New business/products - 20% of projected revenues.
  8. 8. Time + Investment = ROI Dedicate 20% of your time to sales and marketing.2 hours per day or a day a week. Included in this time arecultivating relationships via social media and networking. Expect $10 in additional revenue for every dollar spent.Marketing is an investment in your business so, expect asignificant ROI for time and effort.
  9. 9. Thank you… @bowden2bowden a publication of bowden2bowden llcCopyright © 2013 bowden2bowden llc, All rights reserved.

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