Where do you spend your Marketing budget?

 

marketing budget

So where do you spend your Marketing budget?

The 1st thing is to make sure you have a ‘marketing budget’ as there are plenty of businesses that don’t and they wonder why their business isn’t growing…

My recommendation is spend 10% on suspects, these are people that are potentially your ideal clients but you haven’t been connected as yet. They are your ideal targets.

The next 30% should be dedicated to getting new customers, so this means generating leads for your business “filling the funnel”, there are literally hundreds of strategies that can be implemented to achieve this.

But here is the big one… invest the remaining 60% on keeping the customers that you already have. So many businesses focus their entire marketing budget on getting new customers then neglect them once they’ve got them. I’m sure we have all experienced that and probably more than once.

True marketers understand that the real marketing BEGINS once the sale has been made. How are you looking after your existing customers right now? Do they feel like royalty?

Business is a whole lot easier when you understand geometric marketing, you want to generate new clients, have them coming back regularly, buying your range of products and services and referring your business to others. If you are stuck marketing the old way you are one dimensional.

Ask yourself how different would my business look if we never lost a customer and how would we have to run the business to achieve that? Yes, you will always lose some but guard them with your life.


About the Author

Bruce Doyle

Global Business Coach of the Year Hawaii 2003, Author of 4 Business Books, Entrepreneur and Founder of UnlimitedBusiness.com

Bruce has worked with 1000's of Business Owners over the past 20 years plus he's owned and operated over 30 Businesses across a range of industries. His focus is teaching business owners how to dramatically GROW PROFITS and GET MORE FREEDOM IN THEIR LIVES. 

bruce doyle business coach