Companies typically allocate 7-12% of their annual revenue to marketing, with some variations based on industry and other factors. In the latest episode of Rare Insights, Jim Cota emphasizes the importance of smart allocation, highlighting email marketing’s strong ROI and the power of video content for storytelling and repurposing across platforms.
Perhaps his most important reminder is that a marketing budget is an investment, not just an expense. Cota warns against the temptation to cut marketing during tough times, likening it to “selling your umbrella in the middle of a downpour.” Instead, he says, consider the many studies that demonstrate how maintaining or increasing marketing efforts during economic downturns can actually help companies gain market share and build customer trust.
Be sure to watch the complete video—especially if you’re a business leader looking to make informed decisions about your marketing strategy. And be sure to check out our other online resources, too, for guidance about how to build a marketing budget and select the right agency.
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