Any business, large or small, needs to allocate a certain budget for marketing in order to compete and grow. But how do you go about creating a marketing budget that meets your needs without breaking the bank? Follow these six steps and you’ll be on your way to devising a marketing budget that works for your small business.

Define your Marketing goals

1. Define your marketing goals. What do you want to achieve with your marketing efforts? Increase brand awareness? Boost sales? Generate leads? Once you know what your objectives are, you can begin to allocate funds accordingly.

Know your audience

2. Know your audience. Who are you marketing to? This will help you determine where to allocate your marketing resources for maximum impact.

Research your options

3. Research your options. There are many marketing channels available, so it’s important to research which ones will work best for reaching your target audience. Depending on your audience and objectives, some marketing channels may be more effective (and more expensive) than others.

Consider DIY options

4. Consider DIY options. Social media marketing, for example, is relatively low-cost and can be highly effective if done right. If you’re not sure how to get started, there are plenty of free resources and tutorials available online.

Hire iMarket Creative when necessary

5. Hire iMarket Creative when necessary. Sometimes it pays to hire outside help, particularly if you don’t have the in-house expertise or manpower to handle all aspects of your marketing campaign effectively. Just be sure to find professionals who offer services within your budget range.

Review and adjust as needed

6. Review and adjust as needed. Don’t set your marketing budget in stone – be prepared to review and adjust it as needed based on results achieved and lessons learned. By following these steps and taking a flexible approach, you can develop a small business marketing budget that gets results without breaking the bank.