Setting an appropriate marketing budget

When you think about marketing the first thing that usually pops into your head is your advertisements, but most of you are probably already aware of the fact that there is a lot more to marketing then just advertisements. So when you are creating a marketing plan you are looking at including more techniques than just advertising if you want to be successful.

Since most business owners include preparing a budget as a part of preparing a marketing plan you might be wondering where your money should go when it comes to marketing. Unfortunately this is not a straight forward answer because where you spend your money in marketing is going to depend on what kind of a marketing plan you have and what you are trying to accomplish with your marketing. But the good news is that there is a breakdown of the various sections that should be included in your marketing breakdown. By knowing what sections to include and what each section is designed for you will be better able to budget your money for marketing.

When it comes to setting an appropriate marketing budget there are certain sections that are considered must have sections. So when you are creating your marketing budget you are going to need to make sure you set aside enough money to cover at least those important sections if you don't do anything else.

Here is a look at the must have sections in your marketing budget.

Number one:
One of the most important places that you are going to need to set aside money for marketing is your online marketing expenses. The reason that this section is so important is because of the advances in today's technology. With how much time people spend online doing a variety of different things, including shopping and surfing the web, companies need to make their presence known on the internet just so they can stay in business. One of the most important parts to marketing online is creating and maintaining your companies' website, this is best handled by a professional, but companies that are lacking the funds can still find ways to create a professional looking website. How much money you set aside for this area of marketing will depend on what kind of a business you are going to be running, internet based companies will need to put more money into internet marketing then physical based companies.

Number two:
Another section that you are going to need to pay close attention to is your direct marketing. This includes advertisements, mailings, door to door advertisements, and coupons, basically anything that you are going to give to the customer directly to get them to come into your place of business. Many people think that with the introduction of the internet as a marketing tool that direct marketing is becoming a thing of the past. But the truth of the matter is that direct marketing is something that is going to reach your potential customers directly and make them feel valuable, which nothing can be better than that.

Number three:
Trade shows in another section of marketing that you are going to need to budget money for. Many people tend to think that nothing really happens at trade shows and you usually don't generate any new business at trade shows, but the truth of the matter is that trade shows are a great opportunity. Trade shows give you the opportunity to meet potential customers face to face, as well as sell your product and promote your business. But you also get to meet others in your line of business which will give you many benefits.

Number four:
Public relations is another section that you are going to need to include in your budget. Basically public relations is going to cover a wide range of activities but it basically has to do with the promotional aspects of your marketing campaign that will help build up your business to the public.