6 key strategies to determine your online marketing budget in 2016
The annual Online Marketing budget shows how much your company tend to pay for all online activities in one year, if you have to get your 2016 online marketing plan you have to choose one of the following methods depending on your administration vision and financial situation.
1- Task method strategy (most logic)
In this method you have to determine the tasks you need to achieve , and estimate the coast of these to set the budget , for example :
- salaries 10000 $
- Marketing research 5000 $
- Advertising expenses 8000 $
- selling and commission 1000 $
Total: 25 000 $
2- Determine fixed percentage of sales strategy
10% for example of the sales
3- Competitive parity strategy.
Spend as competitors or exceed their spending
4- All your company can afford.
Fixed amount that can be spent on marketing
5- SALT or (same as last time) strategy.
Determine the last spending budget and create new plan based on that budget
6- Fixed profit percentage strategy.
In this strategy we spend like 10% of the company profit in marketing