The Big Marketing Budget Mistake

Imagine your bank did this deal for you. For every £1 you give them, they give you £1.10. They then give you thirty days to pay your bit, too.

Now here’s the question. How much are you going to budget to spend with them?

Of course you’d be mad not to spend as much as you possibly could with them and to continually reinvest what you take out. Why would you put a budget on it?!

This is the madness of marketing budgets. If your marketing works – ie: it’s giving you a measured positive result – why would you do anything other than spend as much as possible on it? High growth companies of all sizes tend to get this and they become obsessed with working out customer lifetime values, how much they are happy to spend to acquire each new customer and then continually spending in the areas where they can be sure to get a positive return that they can measure.

Much of my work centres on getting business owners and directors to stop dreaming up and wasting budgets, and to start learning to find and actively maximise these calculated money makers. (When you consider I guarantee my fee for this work you realise how sure I am of the difference there is for you here). Good marketing is like your bank giving you £1.10 for every £1, not about sticking to budgets.