77: Marketing Budget Spend

Rick Snowden asked what is the ‘right’ amount to spend on a marketing budget.
Well, I always say if budget allows, spend as much as you can as long as the returns are good. However as a rule, even in my own business, I keep to a minimum 7% rule.
7% of your turnover should go directly into marketing to help generate even more sales. By using a set percentage, you can adjust to busy and slow periods as well as being able to project future cash flow.