Learn why your small business needs a marketing budget and how to create one.

To grow a business, you need income or influence. You'll either pay to reach your target audience through advertising or you need influence; a network that allows you to reach them organically.

What is a recommended marketing budget?

For B2B: 2-5% of gross revenue

For B2C: 5-10% of gross revenue

How to build your budget:

• research your industry
• set clear goals
• know what you should spend on each marketing strategy

Action step to take today: do the math and figure out how much you should be spending on marketing each year.

Music: Tuesday by Sascha Ende, Music.io