Small business owners might not necessarily like planning out their marketing budgets or any other budget for the year, but most do realize the importance of doing it. A solid marketing plan breaks down everything you need to do to promote your business to hit specific business targets, and a marketing budget is inextricably linked to the marketing plan.
All too often the marketing budgets are decided by the leftover cash after operating expenses, supplies, and every other important business expense is accounted for. All of these are important, but the marketing plan and budget are potential revenue sources that should be properly planned to maximize revenue for the year.
We’ve broken out some marketing budgets with the four budget plans outlined in the infographic, so business owners have an excellent launching point to get the discussion started for 2014.
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