Should business owners advertise? The answer is yes.
But the real question is how much should you spend on advertising.
The U.S. Small Business Administration recommends spending 7 to 8 percent of your gross revenue on marketing and advertising if you're doing less than $5 million a year in sales.
Some marketing experts advise that start-up and small businesses usually allocate between 2 and 3 percent of revenue for marketing and advertising, and up to 20 percent if you're in a competitive industry.
Still other marketing experts counsel a range between 1 percent and 10 percent and even more depending on competitive activity, how long you've been in business, and what you can afford.
It's apparent from these differing opinions that the percentage of gross revenue for marketing and advertising depends mainly on whom you ask.
In conclusion, every business has to advertise, but as a business owner you have some choices with M8TRIX5.
1. You can choose to spend your time and deal with the print, online, and digital advertising media yourself and pay retail price.
2. You can choose to have us manage your advertising and pay less with our group rate for advertising with the print, online, and digital advertising media.
We've built alliances with the advertising mediums to not only ensure you get the exposure your business needs but also to ensure you pay the lowest price and all without the headaches.
Makes sense, doesn't it?
If you have questions, contact us or leave a comment below. We look forward to hearing and working with you in growing your business. To our success.