How Much Should You Spend On Marketing in 2021?
It’s a new year and we’re all excited for more growth in 2021.
And one of the most popular questions that we’re being asked on the phone every day is:
“How much should I spend on my marketing in 2021?”
And the answer may surprise you…
Because there are really two ways you can decide how much you should spend on marketing.
How Much Should You Spend On Your Marketing Budget
The first way is the super easy and lazy way which is to do something like take 10% of the revenue you made last year and make that your marketing budget.
So if you made $100,000 then your marketing budget for 2021 should be $10,000.
But this way of calculating your marketing budget isn’t just lazy, but it also limits your potential.
Think about it, what if you are able to invest $20,000, $30,000, or even $50,000 in your marketing and that leads to a 10x growth?
While this may be risky, we’re going to show you how to play it safe by taking a methodical approach to scaling your small business marketing budget.
Formula To Calculate How Much Should You Spend On Marketing
So let’s dive in by just giving the formula that we like to use for marketing budgets.