Building a marketing budget
Building the proper budget for your business or brand may seem like a guesswork or un-figured task – and it may be exactly that in the beginning. The good news is – you will get it all figured out on your way to the perfect financial balance you're aiming for.
In order to create a profitable marketing budget, perfectly adjusted to your businesses marketing needs, you should first specify those needs as accurately as possible. You should consider both your digital marketing needs and active paid-platforms and both your real-life events that may require additional spendings and costs. Those may vary over the years and adjust in regard to the businesses marketing needs for the long run, so you should specify your needs for the foreseeable future – or in other words – don't plan more than a year or so ahead – because you may not know what and when your marketing needs will require after that point.
Once you have established the starting budget, it's time for trying and evaluating in real life – making the proper budget adjustments as you go. You may not change the overall amount you spent on marketing, but only move money around from one specific marketing goal, event or campaign to another as needed. That important stage may go on for a long time, and that optimization is a very important stage in realizing and specifying your marketing needs and needed funds for the long run.