Question
Topic: Research/Metrics
How Much To Allocate To A Marketing Budget
We are a small consulting firm (about 20 staff) and are as usual about to develop next year's marketing budget. What % of revenue is common to allocate to a marketing budget and what is typically included in this budget. Currently our marketing budget covers everything: Web- site, e marketing, printing including letterhead and bus cards and other everyday printing, promo materials and items (pens), folders, brochures, newsletters, seminars, advertising, events. My dilemma is that I can do the bare minimum only and believe based on the firms growth strategy we need to spend more on other types of marketing to support this, such as market research, more targeted advertising or similar to get our name top of mind with existing and potential clients.
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