This method sees you allocating a set percentage of your overall revenue to marketing. Use These Formulas To Accurately Forecast Your Marketing BudgetĪre you still struggling to nail down a clear number for your marketing budget? Here are four ways to calculate your budget and a sample marketing budget to inspire you: Percent of Revenue We recommend Porter’s 5 Forces, a SWOT analysis, an Ansoff Matrix Analysis, a PESTLE analysis, the STP Framework, and the Marketing Mix (also known as the “7 Ps of Marketing”). You can also use marketing models to analyze why they are successful. Note any tactics and messages they use, along with when and how frequently they post. Make sure you also analyze your competitors’ marketing. Social media platforms (according to Statista, the most popular are Facebook, YouTube, WhatsApp, Instagram, WeChat, and TikTok).Website marketing (including content marketing).Here are some marketing channels you should look at: Now that you have a clearer picture of who your audience members are, spend some time researching how other brands market to them online.
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