How to Budget Advertising

By April 7, 2015Marketing

Before I became a serial entrepreneur, things like; budgeting and advertising for a business were not my forte.

I would read books like accounting for dummies, and still be left in a whirlwind.

Even now, a licensed accountant takes care of all my finances and that’s the way I like it. Simple.

With that being said, this article is by no means, a must-follow-above-all, it is a mere sharing of what has worked for my husband’s and I business over the years.

Of course, if you were to apply some of the methods we will discuss, you may attract results in the form of leads, potential clients and sales.

There are many factors to this though and as long as you understand that, not every business, brand and product is exactly the same. Therefore you cannot expect the same results.

Enough with the disclaimers already!

I know if you are reading this, that you are seriously seeking more information on creating an effective budget for your small to medium business.

Make sure to follow along the entire Takeover series here and don’t miss out on articles like this.

Just as the ocean, the tide rises and falls each day.

Your business is the same way.

Creating a mentality that advertising is a necessity will help you create consistent results.

See many small businesses fail because they are not adequately prepared for low tide.

Just like the waves of the ocean, it can come quick, and strong.

Here are 3 ways to create consistent results with paid advertising and prepare for the storm:

    -Set aside at least 20% of my profit for advertising each month
    -Consistently built a list of leads daily
    -Clearly set my goals and intentions

Here on Amazon, Robert Kiyosaki’s books are really cool resources.

Later on in this guide we’ll get into the different forms of lead generation.

budgetadvertising

Here’s how I prep for what’s to come:

When you first start paid advertising, you are like a kid in a Toys R’ Us with Grandma.

And there is absolutely nothing wrong with that…if you think LONG TERM.

Let’s say, with this month’s 20% ad budget you’ve saved up, you place one ad, and use the entire budget on that one ad.

If you are one really lucky individual, then yea sure, you can hit a gold mine…but if you are statistically, just like everyone else who goes to the casino, you just placed a bad bet.

If you can an ad budget over the next 4 to 6 months, you give yourself enough time, not to master, but to really learn a technique.

And with the budget you have, choose methods that will give you multiple opportunities to tweak and go at it again. If you only get one shot, that’s a whole other month your business is on hold till the next 20% comes around.

Some of you reading this, may not have profits from your business yet to set aside 20%.

Here is where you have to ask yourself a question?

How much do you really want to WIN?

I remember days when my husband and I stayed up late in the night, listening to audio books, some nights not sleeping, from working.

We knew, we could do better than yesterday; so we kept working.

Did you know, women are more inclined to reinvest earnings back into their business?

It’s true, at over 40%.

I’ll never forget the one night I sat on the bathroom floor after a long day of making calls, consulting clients, being support and what not…I just sat there.

I wasn’t upset. I was tired.

I asked myself a question, underneath my breath.

“Are you still going to want it when things get tough?”

I dont know what happened, but there I sat now pumping myself up with motivation.

Next thing you know, I am singing in the shower with my second wind about to hit the phones because now the other side of the world, is wide awake.

I was on a mission.

It’s that mission I share the Social Media Takeover with you.

If you enjoyed this blog, please let me know in the comments.

If you’d like to see us include a topic please let us know. We may include your topic!

With love and light,
Signature

Comments

comments