Marketing is a very important part of running a business and you need to think carefully about what budget you can put aside for marketing. The amount you may need to spend on your marketing can vary drastically from industry to industry and depending on if you are a large or small business. If you want your business to grow rapidly and are in a competitive industry then you will need to spend a large sum of money on your marketing every month. Some small businesses may only spend a few hundred pounds a month on marketing where as a large PLC may spend in excess of ten thousand pounds a month. Often the more you spend on marketing the better results you will get but some business simply do not have the funds to pump thousands in each month, and have to wait a long time to reap the rewards.

You need to establish which forms of marketing will give you a quick return on your investment and allow you to make more money that you can then reinvest. Many companies will try and invest around 10% of their revenue back in to marketing.

With more and more people shopping online for products and services, businesses are often splitting their budget between online and offline marketing with the online budget sometimes being bigger than the offline budget.