In Episode #125 Neil and Eric talk about the factors you need to consider when setting up a marketing budget. Listen as they illustrate why marketing budgets don’t need to be BIG so long as they adequately accommodate the marketing strategy in place.
Time Stamped Show Notes:
- 00:27 – Today’s topic: How to set a marketing budget
- 00:34 – Bigger companies’ budget vs small companies’ budget
- 00:52 – Neil doesn’t believe in a marketing budget
- 01:18 – Your budget should be flexible depending on the results you’re getting
- 02:24 – The one that spends the most, is the one that wins
- 03:31 – The budget should be set by internal resources
- 04:02 – Spend money on things you get results from
- 04:24 – Explain why you’re capping budgets
- 05:17 – Neil talks about his and Eric’s trip to Las Vegas
- 06:32 – Neil is a gambler in business
- 07:21 – Spend money in the right areas
- 07:57 – That’s it for today’s episode!
3 Key Points:
- Your budget should always be flexible.
- Analyze your marketing campaigns for areas of rapid growth than put your budget into those.
- Spend your money on campaigns that deliver results.
Leave some feedback:
- What should we talk about next? Please let us know in the comments below.
- Did you enjoy this episode? If so, please leave a short review.
Connect with us:
Discover Latest Episodes
Is AI going to destroy jobs or create a labor shortage? In this episode, hosts Neil and Eric debate how artificial intelligence impacts white collar and blue collar work, deflation, automation, and ne...
Neil and Eric break down ten real, practical ways AI is actually changing marketing right now, without the hype. From AI fluency becoming mandatory and massive gains in programmatic SEO to smarter dat...
Neil and Eric break down counterintuitive business and marketing truths that actually drive growth, revenue, and long-term success. From why free products beat ads and boring marketing wins, to how AI...