How Much Does it Cost to Market my Business?

Blog post featured image

Allocating a Marketing Budget For Business

A very common question posed by business owners who are considering a viable marketing budget often ask: How much does should it cost to market my business?

Your Business Type Matters

Consider the business owner who is approaching a grand opening and wants to attract customers in a big-bang fashion.  Or consider the business owner who has been marketing for many years, using the same media source that has worked well over the years, but knows more is needed. Both are great examples of business owners who realize the full potential of marketing and the great rewards that come with a successful balance of media. The biggest factor for each decision maker is ultimately; what is the cost of marketing, and how will it make the most impact on ROI?

Important Factors to Consider

There are handful important factors to consider when allocating a marketing budget. First step is to allocate a percentage of projected annual sales; 5-15% is common, and is important to see what your competition is doing to keep up or even up your game. Second, your geographic location plays a role and costs are typically higher in metro areas vs. rural areas, as media in those markets will typically hit a larger population.  Third, your media selection is a major factor in the costs. If you have a small business, certain media can be costly (production and media placement) and your budget could be better spent elsewhere, where it can be more targeted. Lastly, there are free alternatives that can be effective, but require effort and some creativity. Examples could include a ribbon cutting ceremony to gain free coverage in a newspaper or by participating in community events which helps generate word-of-mouth.

Plan on it!

Simply put, businesses need marketing to thrive in today’s economy. Budgeting and planning based on projected annual sales is a fundamental key to success. A strategic, long-term plan is effective and best-spent when hiring a full-service marketing firm who is familiar with various media options and how to strategize for a variety of markets and businesses. Make the most out of your budget and contact Epic Marketing today!


Feeling ambitious? Read some more:

blog image


quincy, ma police department arrests, xcel gymnastics age divisions, cost of membership at skyline country club, earth gummies bulk, peconic bay medical center, rvi early pregnancy assessment unit number, abdul jalil abdul rasheed wife, amanda chu, md, the greatest man

portfolio image

Our New Partnership with Mountain America Credit Union

  As a local Utah agency, it means quite a bit for us to announce that Mountain America Credit Union has selected us as their agency partner to help them drive brand growth through their multifaceted media campaigns and marketing

Man in work uniform and hardhat building the base of a home

Contractor Advertising

Advertising Methods For Contractors Like all industries, construction is only as successful as its best marketing plan. Choosing the right blend of marketing channels through which to push your business is crucial to your company’s growth and success. Depending on