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	    <h1 class="blue" style="padding-bottom:10px;"> Advertising Budget         </h1>
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<div align="center"><font face="Calibri"><!--webbot bot="HTMLMarkup" startspan -->                  <!--webbot bot="HTMLMarkup" endspan i-checksum="44900" -->       </font>     </div><p><img src="/<?php echo $blog_path ?>/ADVERTISING-BUDGET/img.jpg" align="left"> Marketing a company effectively requires that the company advertises but deciding how much should be spent on advertising usually creates a problem. In this article we shall learn what steps to take when setting up an advertising budget. Your budget however is going to depend on the stage of your business. A new company may not spend the same as one that has been in business for a while. Also as you advertise and revenue starts to come in as a result of the advertising, you will have to reconsider your budget. But for now here are the steps to take to set up an advertising budget. <br><br></p><p> First <br><br></p><p> Find out what your competitors are doing: what your competitors do will greatly impact what you do so you need to know how they are advertising, where they are advertising and how much they are spending. You need to find out what channels they are using, say internet, radio or print. And then find out or estimate how much that is costing them so that you can position yourself accordingly. <br><br></p><p> Second <br><br></p><p> Set your advertising rate: based on what your competitors are spending, you can then set a fixed amount of money you will spend on advertising. For established businesses however you can just set between 5 and 2 percent of the money coming in as your advertising cost <br><br></p><p> Third <br><br></p><p> Set an advertising objective: you need to decide what you want to achieve from the advertisement. Is it to increase sales? Is it to increase visitors to your website or likes on social media? This will help you to estimate the possible revenue from the advertisement and determine if it will be worth it. <br><br></p><p> Fourth <br><br></p><p> .Set a time frame: it is important to know how long your advertising campaign is going to last. The time frame should match the amount of money you are ready to spend on the advertisement. <br><br></p><p> Fifth <br><br></p><p> Determine the most important or effective medium: you will have to spend more money on the most effective medium of advertising. Since you have information about your competitors and where they are advertising, it should be easier to determine which medium should get the lions share of the advertising money. <br><br></p><p> Sixth <br><br></p><p> Set a maximum cost: with all other things done you should now set the maximum amount of money you will spend on the advertising campaign. This would be the final stage of making the advertising budget. <br><br></p><p> Because the amount of money spent on advertising is usually determined by how much is coming in from sales, it may be necessary to change you budget if more money is coming in or if less money is coming in than expected. If you are making more money, you probably can afford to advertise more and make more money. While if less money is coming in than expected, you may want to reduce the amount of money you are spending on certain mediums. Sometimes advertising is not effective enough because you may be using the wrong medium where not many of your target are reached. <br><br></p><p> The advertising budget is key in determining if the advertising campaign is a success or not. <br><br></p><p> . <br><br></p></div>
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