Planning a Marketing Budget
Member Contributed Article

Few people would argue that having a budget for office supplies, personnel, or vendor services is a good idea. But too often, people approach their marketing in a scattered fashion--creating a piece of marketing collateral as the need arises, or placing an ad when a good deal comes their way. The result? Overspending on some projects, underspending on others, and an overall inconsistent message to your target audiences.

The solution? Plan your marketing budget for the year, then spend it strategically.

Many experts suggest spending 8-10% of your annual budget on marketing. This is helpful, but it's also important to ask yourself about your marketing goals as they relate to your company's overall exposure and branding.

For example, a new company will need to budget more than 10% of your expected annual revenue to accommodate the need for basic start-up materials, such as a logo, website, business cards, business stationery and marketing collateral.

If you have an established company with a strong client base, perhaps you'll plan your budget with the objective of staying in front of your audiences through primarily advertising efforts.

Finally, if your company is going through a transition or needs to change to meet the times, you should plan to spend a little more to re-communicate your brand through a logo refresh, website makeover, and updated marketing collateral. Don't forget a roll-out advertising campaign to let your clients know how you're changing!

Katrina Hase is the owner of Mix Creative, a Twin Cities graphic design, marketing, and advertising firm specializing in direct-to-consumer and retail markets. Click here for Katrina's full article on Planning a Marketing Budget.

Big Plans

The lazy days of Summer are over and WIN has shifted gears. We (meaning the staff and awesome volunteers) have put our efforts into overdrive, with big plans for the rest of the year (and beyond)!   

Here is just a bit of what we are working on: 

WIN's first ONLINE Training - WIN has been providing valuable classes through our WINstitute for a year now, but this Wednesday, Sept. 30, we will offer our first ONLINE class, titled "Pricing Basics for Service Businesses"!!!  Not only will the online format make it easier for people to attend, but it makes it possible for us to lower the price of the classes to only $10 (instead of $30) for WIN members, and only $30 (instead of $45) for non-members. Get the details here, and please share it with anyone you know, regardless of where they live, who might find it useful. 

WIN's first North Metro Event - In response to member demand, we are hosting our first after-hours event in the North Metro (Coon Rapids, to be exact), on October 22. It promises to be a great time, with the opportunity to connect with fabulous women in the North part of the metro and gain valuable information on generating BIG profits with SMALL changes, from our presenter Barbara Zuleger. Get the details here. 

WIN's First Conference, Destined to WIN in 2010 - Details are coming together beautifully under the direction of WIN member, Ann Nelson from Ann Plans. Mark your calendar for Thursday, January 28 or pre-register now at the Early Bird rate. Our team of planners are designing a fabulous day for you, filled with can't miss learning opportunities and, of course, great networking. Shoot for the stars in 2010 and use the resources you gain here to get you there.

Also, check out the fun interview with WIN's director on QCTV's Suburban Mix in which she shares wonderful examples of how WIN members support each other. Click here to view.

We look forward to being a support for your big plans!

Christine Otte
WIN Business Manager
Otte Consulting & Support, LLC