Marketing Budget

Once you’ve launched your business and gained recognition for your brand, you’ll most likely need to continue marketing to keep ‘top of mind’ with your target market. Only businesses that can generate consistent and powerful positive word of mouth can normally forgo this cost. However, the fact remains that many businesses continue to promote themselves only on an ad hoc or opportunistic basis to save costs rather than committing to an effective long-term strategy. Therefore, the budget for your ongoing marketing strategy should use tactics that are financially sustainable within your forecast cash flow. If your marketing budget needs half of your monthly cash flow to sustain it, go back to the drawing board and see where you can cut costs.