How do you make a marketing budget

Developing a marketing budget is key. Therefore, to knowing how much to invest to publicize your product. It is one of the most important phases of a project. Therefore, because much of its success will depend on it. A few years ago, a good marketing strategy required a lot of money. It was necessary to have advertisements in mass media such as radio and television. Therefore, to reach a wide audience and position itself in the market. Surely you remember the advertisements for. Coca-Cola, Pepsi, Nike, Apple, Mitsubishi, BMW, just to name a few brands. Which went viral due to the magic of television and their incredible and creative. Marketing strategies that cost incredible sums.

Know your target audience

The first thing you need to know is who your potential clients are and how they think. To do this, you have to define two company data types of data: Demographics: These will help you understand precisely who your audience is . They are defined by age, gender, marital status, location, occupation, and income level. Psychographics: they refer to what your values ​​and interests are, pain points, expectations and purchasing behavior . You obtain all this information by carrying out a market study and analyzing direct and indirect competition. It is very important that when you observe the competition, you do so not to copy, but to determine if there are segments that you were not considering and what strategies they use to position themselves.

Do the numbers

You already know who the campaign is aimed at. Now, it’s time to estimate how much money you will allocate for B2C Lead direct marketing . It is a transcendental step, because all advertising depends on it. Here we are going to do numbers as follows: Estimate the gross income that the company will receive in a period from the sale of a product. If your brand is new, distribute between 12 and 20% of that amount for the marketing plan . When it comes to an established company, a good number is between 6 and 12%. Now, consider what percentage you will use for traditional media and how much for digital platforms . Each space is important, but there are brands that in recent years have bet everything on digital formats and managed to grow thanks to it. 

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