How much should you really spend on Marketing?​

Wondering how much to budget for marketing? A general rule of thumb suggests 7-10% of total revenue. But it varies based on your goals and growth stage.

Here’s how much you should spend on marketing depending on your goals:

• Startups: Around 11-12% of projected revenue.
• Maintain market position:  2-10% of revenue.
• Steady growth: 5-25% of revenue.
• Fast growth: 15-30% of projected revenue.

Other tips:

• Look at your previous marketing efforts and their outcomes. This can help you understand what strategies worked and what didn’t, which can inform your budget allocation.
• Spend time investigating your target audiences and spend your money where they are listening, watching, reading or scrolling.
• Take into account your projected revenue and other business expenses. Your marketing budget should be a portion of your total revenue, but it should also be enough to achieve your marketing goals.
• Remember be flexible, your marketing budget might need adjustments throughout the year based on the performance of your campaigns, changes in the market, or shifts in your business goals.