How much should I spend on marketing?

It is the question I get asked in my training sessions and by clients during pitches.

I usually answer with: how long is a piece of string?

All jokes aside, this really does depend on what your goals are as a company or organisation. I would say usually around 2-5% if you’re B2B and generally 5-10% if you’re B2C of sales revenue. And that is essentially what Gartner is saying, too. It is so nice to be aligned to the experts.

Here’s what they have to say and if you get a chance, download their 2022 Annual Chief Marketing Officer Spend Survey:

“Following record lows in 2021, this year’s marketing budgets as a percentage of company revenue have climbed from 6.4% to 9.5% in 2022 but still lag behind pre-pandemic spending.”

The key though is to not take your foot off of the marketing pedal, even when times get tough (which is right now). Make sure you stay engaged and connected with your audience. Invest in maintaining relationships with your customers and maintaining your brand awareness — your customers and partners are your best advocates. People connect with authentic brands so remember who you are and who your audience is.

Let me know what you think and how you’re investing your marketing budget. We are headed to a conference tomorrow where we are a co-sponsor, and have been planning to attend for a year. We have loads of sustainably sourced swag we are bringing with us and I can’t wait to host our session. At the end of this month, I am attending an awards ceremony where I am grateful to be a nominee in three categories. In November we are sharing a table for another awards ceremony where Tiernan Mines at Hello Lamp Post and Dave and I are all nominated for Best New Start Up in our respective regions. This is all part of our marketing strategy — we do a lot of other stuff too.

I have found that marketing can sometimes be a dirty word, or something some people don’t understand, feel uncomfortable with, or just don’t like — but know they must do well — to be successful. I’ve been doing it without being over the top salesly for over 20 years. I think it is because I don’t really see myself as a “Marketer” or a “Marketeer” (please don’t call me that). I think of myself as a problem solver and a community builder. And I start from there.

If you ever want to chat about it, give me a shout.