How do I set a marketing budget for my business?
An example of an AI chatbot conversation about setting a marketing budget.
How do I set a marketing budget for my business?
To set a marketing budget, start by determining your overall revenue goals and the percentage of revenue you can allocate to marketing.
What percentage of revenue should I allocate to marketing?
Typically, businesses allocate about 5-10% of their revenue to marketing, but it can vary based on your industry and goals.
What factors should I consider when setting my budget?
Consider factors like your business goals, target audience, competition, and the effectiveness of past marketing efforts.
Can you help me create a sample budget?
Sure! Let's start with your total revenue and the percentage you want to allocate. What are those figures?
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