In episode #944, we discuss what percentage of your revenue should be allocated to marketing. Tune in to hear how much you should be spending.
We have committed to throwing a FREE Marketing School Live Event in Los Angeles, once Marketing School reaches 1M downloads in a 30 day period. Take action: Rate, review, subscribe, and SHARE. Check the progress here!
TIME-STAMPED SHOW NOTES:
- [00:27] Today’s Topic: What Percentage of Your Revenue Should You Allocate to Marketing?
- [00:45] We think budgets are useless.
- [00:55] Even Fortune 1000 companies agree with us.
- [01:15] If you could spend money and it’s profitable, why wouldn’t you keep scaling up?
- [01:30] Budgets should be based on profitability.
- [02:10] There’s nothing wrong with losing money on the front end.
- [02:35] If you have to have a percentage, most people would say 15% (or somewhere in that range).
- [02:55] Neil would start with as little at $100-1000.
- [03:47] If you have a service business, the more customers you add, the worse the service gets. It’s different when you have a product.
- [04:08] Focus on getting the ratio correct.
- [04:10] That’s all for today!
- [04:13] We hit our goal of 1 Million downloads! So, we will be throwing a free event in Los Angeles. Check out this website if you would like to attend. Remember: we are capping the event at 500 people, so sign up now, if you’re interested!
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
In this episode #2976, Eric Siu and Neil Patel explore one-on-ones, marketing tactics, economic trends, and how politics and consumer behavior impact business. They also share YouTube growth tips and ...
In this episode #2975, Eric Siu and Neil Patel explore how tech giants are driving innovation and how AI is reshaping jobs, marketing, and workplace culture. They highlight the importance of adapting ...
In this episode #2974, Eric Siu and Neil Patel discuss staying resilient in tough times, balancing ethics in business, and the role of tech in preserving memories and legacies. They also reflect on ho...