In episode #944, we discuss what percentage of your revenue should be allocated to marketing. Tune in to hear how much you should be spending.

We have committed to throwing a FREE Marketing School Live Event in Los Angeles, once Marketing School reaches 1M downloads in a 30 day period. Take action: Rate, review, subscribe, and SHARE. Check the progress here!

TIME-STAMPED SHOW NOTES:
[00:27] Today’s Topic: What Percentage of Your Revenue Should You Allocate to Marketing?
[00:45] We think budgets are useless.
[00:55] Even Fortune 1000 companies agree with us.
[01:15] If you could spend money and it’s profitable, why wouldn’t you keep scaling up?
[01:30] Budgets should be based on profitability.
[02:10] There’s nothing wrong with losing money on the front end.
[02:35] If you have to have a percentage, most people would say 15% (or somewhere in that range).
[02:55] Neil would start with as little at $100-1000.
[03:47] If you have a service business, the more customers you add, the worse the service gets. It’s different when you have a product.
[04:08] Focus on getting the ratio correct.
[04:10] That’s all for today!
[04:13] We hit our goal of 1 Million downloads! So, we will be throwing a free event in Los Angeles. Check out this website if you would like to attend. Remember: we are capping the event at 500 people, so sign up now, if you’re interested!

Leave some feedback:
What should we talk about next? Please let us know in the comments below.
Did you enjoy this episode? If so, please leave a short review.

Connect with us:
NeilPatel.com
Quick Sprout
Growth Everywhere
Single Grain
Twitter @neilpatel
Twitter @ericosiu



Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode #944, we discuss what percentage of your revenue should be allocated to marketing. Tune in to hear how much you should be spending. We have committed to throwing a FREE Marketing School Live Event in Los Angeles, once Marketing School reaches 1M downloads in a 30 day period. Take action: Rate, review, subscribe, and SHARE. Check the progress <a href="http://marketingschool.io/stats/">here</a>! TIME-STAMPED SHOW NOTES: <ul> <li>[00:27] Today’s Topic: What Percentage of Your Revenue Should You Allocate to Marketing?
</li> <li>[00:45] We think budgets are useless.</li> <li>[00:55] Even Fortune 1000 companies agree with us.</li> <li>[01:15] If you could spend money and it’s profitable, why wouldn’t you keep scaling up?</li> <li>[01:30] Budgets should be based on profitability.</li> <li>[02:10] There’s nothing wrong with losing money on the front end.</li> <li>[02:35] If you have to have a percentage, most people would say 15% (or somewhere in that range).</li> <li>[02:55] Neil would start with as little at $100-1000.</li> <li>[03:47] If you have a service business, the more customers you add, the worse the service gets. It’s different when you have a product.</li> <li>[04:08] Focus on getting the ratio correct.</li> <li>[04:10] That’s all for today!</li> <li>[04:13] We hit our goal of 1 Million downloads! So, we will be throwing a free event in Los Angeles. Check out <a href="http://singlegrain.com/dtla">this website</a> if you would like to attend. Remember: we are capping the event at 500 people, so sign up now, if you’re interested!</li> </ul> Leave some feedback: <ul> <li>What should we talk about next? Please let us know in the comments below.</li> <li>Did you enjoy this episode? If so, please leave a short review.</li> </ul> Connect with us: <ul> <li><a href="http://neilpatel.com/">NeilPatel.com</a></li> <li><a href="https://www.quicksprout.com/">Quick Sprout</a></li> <li><a href="http://growtheverywhere.com/">Growth Everywhere</a></li> <li><a href="http://www.singlegrain.com/">Single Grain</a></li> <li><a href="https://twitter.com/neilpatel">Twitter @neilpatel</a></li> <li><a href="https://twitter.com/ericosiu">Twitter @ericosiu</a></li> </ul> Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices">megaphone.fm/adchoices</a>

Neil Patel and Eric Siu bring you daily ACTIONABLE digital marketing lessons that they've learned through years of being in the trenches. Whether you have a new website or you're an established business, you'll learn the latest SEO, content marketing, social media, email marketing, conversion optimization and general online marketing strategies that work today from people that actually practice marketing and operate businesses.
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Marketing School - Digital Marketing and Online Marketing Tips

In episode #944, we discuss what percentage of your revenue should be allocated to marketing. Tune in to hear how much you should be spending. We have committed to throwing a FREE Marketing School Live Event in Los Angeles, once Marketing School...

What Percentage of Your Revenue Should You Allocate to Marketing? | Ep. #944

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/46d44647-7262-44a4-a9ae-b0d200522578/transcript

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