One of the most common questions I get asked from small business owners is how much should they be spending on marketing?
As a very basic rule of thumb I would recommend reinvesting approx 5% of turnover back into the marketing of a product or service to make a real impact. This of course isn’t always viable and if you’re lucky enough to reinvest more, then all the better.
At the start of the financial year it’s worth mapping out where your spend should be allocated. If 5% seems like a huge amount, then simply look at the must haves. Marketing is all about repetition and recognition, if you can’t afford a series of adverts for example, it isn’t really worth the investment to start with.
If you’re going to commit to something, make sure you give it 100% rather than spreading your budget too thinly. Facebook advertising is a great platform for dipping your toe in the water and adverts can be edited/adapted at any point dependent on success rate. You can even get started for as little as £5 per day!
There are many avenues to go down when promoting a small business but the best advice I can offer is to keep the message consistent across all platforms to deliver a cohesive campaign.