How much should companies budget for branding, marketing, and sales?

As we will dive into in other posts, branding, marketing, and sales are the ultimate lifeblood of your company. Investing in your companies success is crucial if you want to be part of the 4% that survive. To get started, you need first to know what your goals are. You cannot hit targets if you don’t see what you are aiming for, and you can only manage what you actually can measure. Setting clear goals will not only allow you to plan for a budget for your spending, but it will also allow you to better price your services to ensure that you have the margins to succeed. If you haven’t done this process yet, it will pay off exponential dividends in the long run. Depending on your goals, market place, and capitalization, your budget can range from as low as 10% of targeted gross sales to over 2000%! It all depends on how aggressive you can push out and how quickly you want to grow. There is a direct correlation to how much you spend and your speed to market, and market share growth. So while the ranges can be various, here is a list of common services and price ranges. Brand Strategy Low $5,000 High $1,000,000+ Name Development & Domain Strategy Low $5,000 High $100,000+ Brand Identity (logo) Creation Low $3,500 High $150,000+ Website Design & Development Low $5,000 High $1,000,000+ Collateral Materials (Business cards, brochures, look books, etc) Low $500 High $1,000,000+ Advertising/ PR Monthly Low $5,000 High $1,000,000+ Signage, Vehicles, Packaging Annually Low $10,000 High $250,000+ We hope this gives you some good starting points to think about. If you want help to do it right the first time, feel free to reach out to us anytime for a free initial consultation.

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