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
The Power of Storytelling in Marketing: Tips and Techniques. #2359
February 03, 2023

In episode #2359, Neil and Eric share their insights on how to utilize the power of storytelling in marketing. Telling a good story is one of the best ways to capture people’s attention. Tune in as ...

Episode
Marketing Jobs That Will Be Replaced By AI #2358
February 02, 2023

In episode #2358, Neil and Eric explore which marketing jobs will be replaced by AI in 2023. We’ve seen a lot of advancements in AI over the past year, but what will its real-world impact be on mark...

Episode
How To Fix Your Marketing Funnel #2357
February 01, 2023

In episode #2357, Neil and Eric break down how to fix your marketing funnel. There are plenty of useful tools that can help you identify where your marketing funnel needs to be improved. The trick is ...