When you own a business, you should make budget planning for marketing. Some people, believe that some businesses do not need to have marketing budget and believe that the business can introduce themselves to potential customers through location or spread from mouth to mouth.
Unfortunately in the competitive business world, this assumption is not right. We often see that business gone bankrupt and went out of business, despite it is located in a good location or it provide great product or service. At first the business seem successful and generate good profits, but after sometimes they are struggling to survive and finally went out of service.
For business people who do not believe in planning the marketing budget must ask themselves why is large company such as Ford and Nike setting up marketing campaign despite they have good products which are acknowledge by many people?
Other than promoting their product, one of the biggest purposes of those big companies doing marketing is to remind their customers about their products and create a topic so customers will keep talking and discussing about their products with other people.
Many small businesses and entrepreneurs would not plan marketing budget due to their overall budget is limited. Therefore, the often assume that they will not afford to set up marketing budget like any large companies.
The truth is to do marketing, they do not have to spend too much with large campaign. To start good marketing, you do not need to spend tens of thousands dollar to hundreds thousands of dollars just like the large companies do.
Your business can start your marketing campaign with couple hundred dollars per month or even less depend on the marketing’s frequency. If you cannot build the plan for marketing budget, you can find professional service that can do it for you that will be adjusted according to your budget along with the budget resource.