Spending on Marketing

Marketing CampaignMarketing is one of the core entities in a business. For any business to grow it has to attract and retain clients. That is where a marketing campaign comes in. As you budget for a new financial year, allocate enough money for marketing. Don’t sit back and assume that your business will scale naturally.

A successful marketing campaign should have  a target on what you need to achieve at the end of a marketing campaign. Question to ask include:-

1. What are my target groups?

Is your marketing campaign targeting a certain age group, nationality or location? Best adverts are target oriented.

2. What is my budget?

Each marketing platform is priced differently. Having a budget will help you choose what you can afford. You can choose conventional marketing like printing flyers, banners or booking space on print and electronic media. You also have the option of going online. Compared to conventional marketing, online marketing is a bit cheaper and if planned well, it can reach more relevant and potential clients.

The other important thing to have is an estimate projection of new clients you intend to attract. This is not the number of people you reach, but those who will be your clients. Have a time frame to achieve this. Divide the marketing campaign in two or three time frames. If for example you intend to carry out the campaign for three months, then have three time frames, each taking one month. Have a projected number for each time frame. After one month, see if you have achieved your goals. If not, try to understand why and what you need to add, remove or change to make the marketing campaign better.