Marketing budgets can feel overwhelming, especially when you’re bombarded with examples of big brands spending eye-watering amounts of dosh.
But the thing is, if you’re not a multi-national corporation, you don’t need their budget to achieve your goals.
So how do you decide how much to spend? It all starts with understanding your needs and your capacity.
What are you trying to achieve?
Think realistically about what you’re trying to achieve:
- ➕ How many new clients do you actually need?
- 🌊 If a wave of clients came knocking tomorrow, could you handle it?
- 🤝 Are you trying to bring in new business, or focus on retaining and upselling to existing clients?
From my experience with smaller businesses, and particularly financial advice firms with small teams, the aim isn’t to flood the pipeline. It’s to ensure you’re attracting the right amount of the right clients at the right time.
Working out your budget
If your business thrives with one new client a month, there’s no need to pour money into strategies designed to attract 20 new clients a week.
Instead, your marketing spend should align with the value of your ideal client and your business goals.
For example, if one client is worth $20K a year to you, that’s a great starting point for figuring out what’s reasonable for you to invest in acquiring them.
Remember, big brand budgets should not be your business’ blueprint.
Marketing to simplify, not overwhelm
Marketing is about supporting your business – not overwhelming it.
By tailoring your budget to your specific needs, you can achieve sustainable growth without the stress (or wasted dollars).
And if you’re unsure where to start, don’t sweat it. I’d love to help you figure it out! Book a free Crispy Marketing Kickstarter call with me—a quick, no-pressure chat where we can troubleshoot your goals and pinpoint what you actually need to succeed.