Tech Tip #32: To Determine Marketing Spend, Consider Firm’s Strategic Plan
Strategic plans affect nearly every business decision. To determine marketing spend, refer back to your strategic plan. Are you looking to grow or is your firm content at the size it currently is? Those pieces will determine total spend, as 5% of your budget spent on marketing is typically enough to keep business status quo and the phones ringing, while 10% is more typical of firms looking to expand.
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