Getting the most out of your investment
M&T Bank can help you develop a strategy for generating the best return on your marketing budget.
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How much of revenue should be allocated to marketing
There is no one-size-fits-all marketing budget template for small businesses. Every situation is different. While small businesses might typically spend between 5 percent and 10 percent of revenue on marketing, your business is unique and requires its own individual plan. Not only will you need to determine your own correct marketing budget allocation but you’ll need to decide which marketing tactics are going to be right to reach your target audience.
Where to spend your money
One reason that there is no marketing budget example that is appropriate for every small business is that each business will choose different channels for pushing its messaging. A content-rich website gives your brand a home base. Email and text messaging are great for promoting your business, driving website traffic and collecting subscribers. Social media often works well for short-form content and videos. These marketing channels and many others each have different costs. There are small business marketing tools that can help you manage multiple channels at once, potentially consolidating some of your expenses. If done well, marketing doesn’t have to cost a lot to make a big impact on your bottom line.
M&T can help you choose the right marketing budget breakdown for your business. We can guide you to the resources you need to choose the best marketing channels for your message and build brand awareness as economically as possible.
M&T Bank can provide resources to help you build an effective marketing strategy. Schedule an appointment with your local M&T branch.
Small Business Planning
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