Your marketing costs will vary consequently depending on how you plan to reach your target audience.
As a startup or SME, setting a clear budget is important order to effectively market yourself while avoiding unforeseen costs that may eventually affect your bottomline.
Some important points to consider when setting your marketing budget include:
Calculating the incurred expenses before making a sale (number of customers who can be served, extra marketing-associated costs).
The number of potential customers in the field of activity targeted for marketing.
Determining these elements will help you set the marketing budget that best suits your needs and enables you to reach your SMART marketing goals.
Download the template below to understand what SMART goals for social media look like