In Episode #125 Neil and Eric talk about the factors you need to consider when setting up a marketing budget. Listen as they illustrate why marketing budgets don’t need to be BIG so long as they adequately accommodate the marketing strategy in place. Time Stamped Show Notes: 00:27 – Today’s topic: How to set a marketing budget 00:34 – Bigger companies’ budget vs small companies’ budget 00:52 – Neil doesn’t believe in a marketing budget 01:18 – Your budget should be flexible depending on the results you’re getting 02:24 – The one that spends the most, is the one that wins 03:31 – The budget should be set by internal resources 04:02 – Spend money on things you get results from 04:24 – Explain why you’re capping budgets 05:17 – Neil talks about his and Eric’s trip to Las Vegas 06:32 – Neil is a gambler in business 07:21 – Spend money in the right areas 07:57 – That’s it for today’s episode! 3 Key Points: Your budget should always be flexible. Analyze your marketing campaigns for areas of rapid growth than put your budget into those. Spend your money on campaigns that deliver results. Leave some feedback: What should we talk about next? Please let us know in the comments below. Did you enjoy this episode? If so, please leave a short review. Connect with us: NeilPatel.com Quick Sprout Growth Everywhere Single Grain Twitter @neilpatel Twitter @ericosiu Learn more about your ad choices. Visit megaphone.fm/adchoices See omnystudio.com/listener for privacy information.

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