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Develop Your Marketing Budget for 2020

October 17, 2019 by admin in Uncategorized

Develop Your Marketing Budget for 2020

Because it seems like such a daunting task, a marketing strategy and budget is often overlooked by many small business owners. You recognize that without marketing no one will know your business exists, but the lack of knowledge and the vast number of options out there make marketing seem extremely overwhelming. Avoid this mistake in your business: October is Financial Planning Month and 2020 will be here before you know it; therefore, it is time for you to create your goals and marketing budget for the upcoming year. 

Use these tips to get you started

Set Your Goals
In terms of your business, what do you want to achieve in 2020? Take the time to assess where your business currently stands and what you want to improve in 2020. Then, use this information to create goals for your business.

Create a Plan
Next, turn your goals into a plan. What do you need to do in order to achieve your business goals? Create a detailed marketing plan that illustrates how you will market your business to your target market.

Keep a Focus
It’s true that there are an overwhelming number of options to market your business. Instead of trying to think of everything, consider the ways in which you are most likely to reach your target market and focus on one or two marketing strategies. This allows you to feel in control and prioritize marketing in your business.

Create a Budget 
Research the marketing strategies that you want to employ. Then, create a budget to allow for those strategies to come to fruition and serve your business. You may need to seek the help of marketing experts to ensure you create a budget that will help cover the costs of your marketing strategy and meet your goals.

Reflect and Adjust
Remember that your marketing strategy is not set in stone. It is merely a plan that can be adjusted at any time to fit the needs of your business. Therefore, take the time to reflect on your marketing plan and assess its success. You do not want to continue to invest in something that isn’t working; therefore, make adjustments in your plan to ensure you accomplish your goals. 

CPS can help you design and print materials to implement your marketing strategy so 2020 is successful in your business. Contact us today!