If you do not have a set marketing budget, it’s helpful for us to know what specific assets you need and what you want to achieve.
If you know only that you want good marketing, Sticky can still help you hone in on a sensible plan that reflects general rules of thumb, too.
An online search to determine marketing budgets will reveal many recommendations similar to those of the U.S. Small Business Association:
Businesses with revenues less than $5 million should allocate 7-8 percent of their revenues to marketing. This budget should be split between 1) brand development costs (such as logo, website, sales materials, etc.), and 2) costs to promote your business (advertising, events, etc.).
This percentage assumes margins in the range of 10-12 percent (after expenses, including marketing).
If your margins are lower, you might choose to eat more of the costs and allocate additional spending to marketing. Your marketing budget should never be based on just what’s left over once all your other business expenses are covered.
Businesses that market to consumers (B2C) should spend a higher percentage than businesses that market to other businesses (B2B).
Businesses with mature brands should spend less on average than businesses that want to grow and/or introduce new products.
Regardless of the size of your business or budget, Sticky aims to maximize the value of your marketing dollars.
Ours is an idea-centric and media-agnostic approach.
Sticky delivers years of big agency experience, award-winning creative credentials, and depth of strategic thinking, in a very streamlined package.
Sticky does work for Fortune 500 companies to start-ups, all with varying marketing needs and budgets.
Sticky provides services at an hourly rate, weekly rate, project basis, or on retainer.
Compensation is mutually agreed upon based on the scope of work. We will also work for equity in a company, or incentives tied to specific results.
Our blended agency rate is about 30% less expensive than the average of that of the major Chicago agencies.
Our collaborators at Sticky are experienced specialists — skilled designers, cinematographers, programmers, artists, and so forth.
Some we pay almost as much as you’d pay a good plumber. And they’re worth it: we’re able to be more productive with fewer people.
Most of our marketing projects of any significance take four to ten weeks to complete.
Some entail branding, some entail video, some entail web development, some entail design.
Many marketing projects entail various aspects of all of a number of services.
If you are serious about your business, then you should be serious about marketing.
You should be as serious about the marketing partner you choose as you are when choosing a doctor, dentist, architect, or contractor.
Because it’s vital to the health of your business.
And because you’ll have to live with it for a long time.
The cost of good marketing is never as high as the cost of treating it as a luxury rather than a necessity.