Marketing on a tight budget
How to stick to your marketing budget
Setting clear marketing goals will help keep your business focused on what you want to achieve from your marketing budget, and can be a 'roadmap' if things go off-course.
The sorts of objectives you might want to consider setting for your business could include:
- increasing your customer base through direct marketing, see direct marketing
- developing your brand identity, see branding for your business
- finding out more about your customers, market or competitors through market research and market reports
- using greener packaging, see design packaging to reduce environmental impacts
- distributing your goods through e-commerce, see planning for e-commerce
- using different marketing channels and mixes to reach your customers
Once you have decided your general aims, you should set SMART objectives. SMART objectives are; specific, measurable, achievable, realistic and time bound. Some examples include:
- generate 40 new sales leads per month through pay-per-click advertising
- increase brand recognition among 18-30 year old males by 10% within six months
Stay within budget
By gaining insight into your industry and market, and developing specific objectives, you can help your business grow and stay on track throughout the year.
You can continually monitor your targets and ensure that budgets are being allocated to the right campaigns.