You can also adjust your spending if you find that you are spending too much on a particular campaign. Market budget templates A marketing budget template can make creating your budget a breeze. You can use the following resources to access a template for creating your marketing budget: Microsoft Office SCORE Smartsheet How to calculate a marketing budget Now that you know how to plan a marketing budget, let’s explore how to calculate it. When it comes to creating a marketing budget, you’ll need to determine how much you should spend. The U.S. Small Business Administration recommends that businesses that make less than $5 million annually should set aside about 8% of their gross revenue for their marketing plan budget.



However, it’s important to note that every business is unique, and you may spend more or Chinese Australia Phone Number List less than this amount, depending on your company’s needs. To create a goals-driven marketing budget plan, determine your target cost for acquiring a new customer and how many new customers you want to gain through your marketing.  and add in any fixed costs. For example, say your target cost-per-acquisition is $300 per customer, you want to acquire 200 new customers, and your fixed costs add up to $10,000. In that scenario, you’d use the following formula. (300 x 200) + 10,000 = 70,000 So, you’d need to allocate a total of $70,000 to marketing to achieve your customer acquisition goal.







As you run your marketing campaigns, you can track the number of new customers you acquired and your cost per acquisition to determine how well your campaigns are working and what you might want to tweak to improve performance. How much do different industries spend on their marketing budgets? Now that you know the formula for how to calculate a marketing budget, you might be wondering what other businesses in your industry tend to spend on their marketing strategy. When it comes to how to determine a marketing budget, you can learn how much your business should budget for its marketing plan by looking at your industry and its average marketing spend in the table below.