The document is an educational workshop presentation on creating a marketing budget. It discusses determining the target audience and how to reach them, assessing competition and past marketing approaches. The presentation recommends dedicating 10-20% of revenue to marketing, comparing to industry averages, and expecting a 10x return on marketing investments. Key aspects include evaluating last year's sales and budgets, allocating 20% of time to sales and marketing, and seeing marketing as an investment in the business.

1. Open Social Media Initiative
An educational workshop by…
“Learn how to create a budget for
your marketing initiatives”
Friday, February 8, 2013

2. Budgeting boils down
to Mathematics
randy bowden
principal partner | bowden2bowden llc

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. 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. Past 2 Future
 What has worked in the past
 What didn’t work in the past

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. Budget
 Dedicate about 10% of revenue to marketing.
 16% - 5-6%
 23% - over 6%.
 New business/products - 20% of projected revenues.

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 are
cultivating relationships via social media and networking.
 Expect $10 in additional revenue for
every dollar spent.
Marketing is an investment in your business so, expect a
significant ROI for time and effort.

9. Thank you…
@bowden2bowden
a publication of bowden2bowden llc
Copyright © 2013 bowden2bowden llc, All rights reserved.