The Gartner CMO survey suggests that the average marketing spend should be 11% of total revenue. Commentators also suggest that the proportion of marketing budget versus revenue should be higher for newer companies or challenger brands. The problem is that companies are still trying to understand the best areas in which to invest their budgets. A lot has been written on digital spend versus more traditional marketing budget, but it is sometimes hard to compete and keep up with more well-established competition without huge marketing budgets.
Secret Source have been working in sales and marketing for over 20 years, both client and agency side. Therefore, we have worked with the good, the bad and the ugly when it comes to marketing budgeting. While we are not going to tell you how to spend your marketing budget, here are a few things below to consider that might help. Read and then download our FREE Marketing Budget Templates!