Success Tip #4 - Develop A Marketing Budget

Operating an effective marketing plan requires money, so you will have to allocate funds from your operating budget to cover advertising, promotional and all other costs associated with marketing. Develop a balanced marketing budget based on the cost:

• For your advertising and promotional plan
• For costs allocated for advertising and promotions
• For advertising and promotional materials
• For a list of advertising media to be used

The key to success is to have an well-planned marketing strategy, to establish your policies and to constantly monitor prices and operating costs to ensure profits. Keep abreast of changes in the marketplace because these changes can affect your bottom line.

Develop An Effective Promotional Strategy
Develop a promotional strategy that uses a diversity of media for promoting your business.

• advertising media
• print media (newspaper, magazine, classified ads, Yellow Pages advertising, brochure)
• radio / television
• networking events
• business cards
• tee shirts, hats, buttons, pens