As accountants we often get asked on how much we should spend on the marketing of our business.
It would be nice to answer it with the general consensus of just 10% of sales, but I no longer consider that to be relevant.
It now needs to be more tailored to that specific business.
With some larger companies spending millions on their marketing campaign compared to some small businesses that place an ad in the local paper.
As you can see, there is no one size fits all, when it comes to how much you should spend on your marketing.