| You can make several approaches to budgeting a campaign:
Percentage of sales/profit method
Can be done after at least a year in business
Historical method
Good if you have been in business more than five years
Objective/task method
A much more analytical approach based on sales goals
Competitive parity method
Matching the campaign waged by your competitors
All you can afford method
Usually done at the start up of a business
There is no easy answer to this as you can spend as little or as much as you want. The most important thing is get the most you can out of a realistic budget . Sometimes you can even advertise for free, for instance putting the name of your business in this post. If you are serious about putting together a plan though, I’d like to help. |