Episode #125
How to Set a Marketing Budget
December 03, 2016

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:

  1. Your budget should always be flexible.
  2. Analyze your marketing campaigns for areas of rapid growth than put your budget into those.
  3. 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

Episode
YouTube Success Secrets #2189
August 16, 2022

In episode #2189, Neil and Eric discuss some of the best-kept YouTube success secrets! We share what has worked for us, as well as the mistakes we have made and how you can avoid them. You’ll also l...

Episode
Our Boneheaded YouTube Mistake with Marketing School #2188
August 15, 2022

In episode #2188, we talk about our boneheaded YouTube mistake with Marketing School. Tuning in, you’ll find out how Libsyn helped us automate and grow our views, the mistake we made when we stopped...

Episode
How Eric is Utilizing Product-Led Growth for NFTs #2187
August 14, 2022

In episode #2187, we discuss how Eric is using product-led growth for his NFT project. Tuning in, you’ll learn the definition of product-led growth and find out how you can implement it in the world...