How much should you spend on marketing?

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marketing budgetHow much should you spend on marketing is a question I get asked a lot.

Let me see if I can answer it.

There are companies who spend a huge amount on marketing. Red Bull is, perhaps, the most famous of these. The costs of running an F1 team, an international go-kart series and sponsor huge numbers of adventure junkies doesn’t come cheap. The last figure I saw was 38% of revenue.

At the other end, there are companies who spend almost nothing. If they can get all the leads they need through word of mouth, I wish them all the best.

So let’s return to the question. Seeing as I am a consultant, let’s start the answer by asking you a question – or three.

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Don’t stop Marketing for the summer

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Have you stopped marketing over the summer?

  1. Everyone’s away for the summer.
  2. Nobody makes any decisions over the summer
  3. There’s no point in doing any marketing over the summer

Every year I hear the same old reasons for not doing any marketing over the summer. Let’s have a look at this in more detail and see whether there is any benefit in not doing any marketing over the summer…

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