Very often I see small business issues with over budgeting in their marketing dollar, as they believe the more they spend more money and customers automatically come in. However this is not necessarily the case. It is important of course to spend and commit marketing dollars if you plan to achieve your goals and objectives in your marketing campaign and run a successful business, but simply spending the money does not necessarily mean you will win. As a founder of a franchising system in 23 states, 450 cities and over 110 major markets I learned quite quickly that I had to watch my franchisees and prevent them from overspending on their marketing budget dollars. All too often they would over spend and run into financial trouble when they did not have to. Sure we could correct this easy enough, but what if were not paying attention? What if that was someone elses small business with no one to watch over them or help them with their marketing allocations? Having watched this scenario play out time and time again with our franchisees customers and our franchisees themselves we finally put together a plan that would make sure that our franchisees would not over budget their marketing dollars, but would rather spend their dollars in multiple different mediums, media and methods to achieve the desired results. And as we got better and better at it we found that it did not cost as much money as we thought. In other words it is not how much money you budget it is how efficiently you use your marketing dollars to achieve your goals and objectives. I hope you can understand how important this is and I sincerely hope that you will consider this in 2006. |