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If you haven’t established a marketing budget, you should. To execute a marketing plan without a budget is to essentially ensure that your plan fails. A marketing budget does three things. Here are the three reasons you should have one.

  1. A marketing budget tells you what marketing tactics you are capable of executing. If your budget is $300 per month, that means you are limited in just what you can do. You likely won’t be buying any TV ads. If you do, you won’t do much else. It forces you to think long and hard about the marketing tactics you put into place.
  2. A marketing budget also establishes your end goal. When you know how much money you are willing to spend per month to reach your marketing goals, then when you hit that limit you know it’s over. You can’t do anything else until next month. This prevents you from overspending.
  3. A marketing budget gives you something to measure. Without a budget you have no clue what you are measuring. There’s no end goal so you don’t know if you’ve reached it. When you have a means of measuring goals, then you can know if you’ve been successful or not.

It isn’t enough to simply establish a marketing budget. You should have a marketing budget for your Internet marketing too. And you should have a budget for each part of your marketing, whether it be video marketing, PPC, or social media.

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