Why Businesses Who Budget For Marketing Get More Sales

Not Budgeting for Marketing? Don't Be a Statistic in 2021

Here's a statistic for you, by a business's 5th year, more than 50% fail. How many years have you been in business? More than five years, congratulations. You must have learned a big lesson already about your marketing spend. 

Everyone has heard the saying, "you have to spend money to make money" but yet a disconnect still seems to exist with even the c-suite at times neglecting, effective budgeting for their marketing. 

In fact, there are still business owners who search on Google to this day, "why do companies spend so much money on marketing?", "why should you budget on marketing?", and "is marketing worth the money?". 

First...Real Quick...What Is a Marketing Budget?

A marketing budget is the allocated amount of money your business decides it will give toward your marketing objectives. This can mean any type of promotions, ad spends, ad management, digital marketing efforts, and more. 

Some businesses need a little more hands-on help when it comes to their marketing efforts. 

It is important for any business, start-up or established, to get their marketing working correctly to make them money by bringing in the leads, sales, etc. But this successful marketing can't even start without a budget. 

Many people have been brought to great fortunes by penny-pinching their way through life and in business. And, we aren't saying that isn't a great way to live your life and run your business.

But any smart businessman or woman knows, when it comes to investments that will only prove to make your business more money, at the end of the day, you'd be a fool to pass up on them. 

Think of Your Marketing Budget as an Investment in A Profit Center 

One of those investments your business shouldn't pass up or try to be thrifty with is your marketing. 

Don't be the businessman or woman that thinks they're saving money by not budgeting for marketing. At the end of the day, you're really losing out on so much more than you're saving. 

Neglecting effective marketing strategies that are proven to increase sales because of a perceived high cost involved is just asking for failure. 

The word on the street for years has been that marketing is an easy task and with social media and an intern, you can do it yourself...for FREE!

If you think that works for you great, but the truth of the matter is, it doesn't work for everyone. 

There are so many different pieces to the puzzle that go into marketing that many business owners just don't realize they are missing out and wasting their time, money, and energy. 

If your marketing is not making you money, you are doing it wrong. 

How Much Should Your Business Budget for Marketing?

Now investing in marketing, doesn't have to be outrageously expensive and we understand the importance of cash on hand to a business especially in this atmosphere. But why buy a car if you can't afford to put gas in it? 

In other words, why invest in a business if you can't afford to promote it to its max ROI? 

We've seen so many businesses who have refused to budget enough for their marketing, and then wonder why they end up getting stuck in limbo and don't have clients lining up at their door. 

Every business needs to find the spend for effective marketing before it is too late and they become a statistic. 

Our suggestion, to at least get your foot in the door, is to perform a marketing audit and understand where your needs are before setting a budget. 

Remember that "Googling" we were talking about earlier? You can Google it and discover what percentage of your overall operating budget your start-up or your established business needs to spend on a marketing budget. And that is all well and good. 

But until you even have an idea of what a good marketing strategy looks like for your business, you are shooting in the dark and wasting your money. 

Many businesses tend to "find" the funds for a marketing budget by again, being thrifty, and it tends to not get them the results and ROI they were hoping for. When planning a marketing budget it is vital to see where the most money needs to be spent to get a return on investment. 

There are a lot of marketing agencies and consultants who will take businesses' money and never get them what they're looking for...increased sales. 

We have heard the story too many times before. 

It is important to build trust and understanding between what a marketing company says they can achieve for you, what your expectations are, and what reality is. 

We Can Help Maximize Your Marketing Budget to Increase Sales 

We understand the internal struggle of trying to find the money for the marketing spend that is required to bring clients in the door. 

Once you decide to part from the money for your marketing budget, we understand you want to get the best bang for your buck because we've been there too! 

And thankfully our team has the proprietary tools, knowledge, and proven success to help you and your business. 

Currently, we are offering a free marketing audit valued at $2500 that can help you figure out where to spend your budget, without wasting your money. 

Reach out to Shane Shirley Media today to take away the stress of worrying about your marketing and how you are going to get clients in the door...that's our job! 

Guest Post by Reece Smith, EVP