Small Business Series: Budgeting for the Marketing Mix

Presenter: Michael Goodman
Broadcast on Friday, September 14, 2007
Duration: 90 minutes
Cost: $129

   

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In this seminar, we’ll deal with some of the most common questions asked by entrepreneurs and small business marketers: How much should we spend on marketing? Is it a percentage of sales? How do we get benchmarks for our industry? How do we know if we’re over-spending, under-spending, or right on the money?

Michael Goodman, a veteran marketing consultant and one of the top experts on the MarketingProfs Know-How Exchange, will share his experience from a range of industries, categories and businesses that have grappled with these questions.

He’ll also share a simple way to track and measure the effectiveness of some common marketing mix elements, and discuss the pros and cons of using a formal marketing ROI approach for each marketing mix element. As always, he’ll share specific examples and case studies from real companies that have had to determine how to set and spend their marketing budgets for maximum effectiveness.

Be sure to check out the other events in this series:

• Why Most Small Businesses Fail
• Do-It-Yourself Market Research
• Positioning, Naming and Taglines
• How to Set Prices the Smart Way
• How to Advertise on a Modest Budget
• Promotions - Instant Gratification for Small Business Marketers

You Will Learn

• How much a small business should spend on marketing
• How to determine which marketing mix elements to emphasize
• Whether each marketing mix element must payout
• When to estimate the marketing ROI, and when it’s more trouble than it’s worth
• A simple way to measure the effectiveness of key marketing activities

Who Should Attend

This seminar will address both B2B and B2C markets. It's intended for:

• Marketers and general managers in small- and medium-sized companies
• Entrepreneurs who are planning to start a new business
• Service professionals and consultants in small practices
• Consultants and marketing service providers who serve the small business community

This series is a must for marketers and entrepreneurs in small and medium-sized companies where everyone has to pitch in and make sure the work gets done and products and services are delivered as promised. Taken together the sessions promise to deliver a virtual “SBMBA” – a Small Business MBA.

About The Presenter

Michael Goodman is a senior marketing and management consultant with experience that spans the spectrum from micro-businesses and start-ups to the Fortune 25. He learned marketing at corporate giants Procter & Gamble, Frito-Lay and Playtex. He has consulted with clients in both business-to-business and business-to-consumer; local, regional, national and international markets; and industries ranging from industrial chemicals and consumer packaged goods to financial services and healthcare.

What Participants Said

Of the participants who evaluated this seminar, 100% would recommend it to a colleague. Some of their comments:

"Extremely useful for a small business marketer or owner. Explains clearly why it's worth the time and money to plan and track performance. Includes specific ideas that we can use tomorrow!"

"Good examples of how to fit marketing expenditures into overall business plan, and ensure marketing programs are meeting business objectives."

"Real actionable info!"

"Michael is a terrific presenter. Good energy, great information, super examples of practical application."

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