Many business owners will ask how much they need to spend on marketing. The truth is there is no set amount, it all depends on the type of business you run, the level of competition, how many products or services you want to market and the geographical locations you wish to target.

Ideally before you go and speak to a marketing agency you need to consider what you would be able to spend on marketing. Ideally you need to have an initial budget and also an on-going monthly budget. Once you have this then you can speak to the agency and advise them of what you want to spend. They should then be able to run through the options with you as to how they suggest using your budget. If your budget is really small then they may suggest an increase or that you choose specific areas to target first to ensure that you get some return on your investment.

You should look to increase your marketing budget as your business grows to ensure that the growth continues over time.

If you are worries about investing in marketing, then be sure that you have review meetings in place and have a way of analysing how successful the marketing has been.