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The Highly Effective Marketing Plan (HEMP): A proven, practical, planning process for companies of all sizes by Peter Knight

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Chapter 12. How Much?

Clients will often say to their agency, as Managing Directors will also say to their marketing teams, “If I tell you the budget you’ll spend it.” My response is always the same, “That’s right, so tell me how much you’d like to spend.” I’ve never known a marketing budget not to get spent somewhere or somehow and I’ve seen many go over. Why muck about playing games? Either you’re going to make the investment or you’re not. Now before you go any further, remind yourself of how much money your desired result is going to make (see HEMP step two). And, unless you’re a dotcom or have a very unusual business model I suggest that the starting point in determining your HEMP budget is a figure lower than both the turnover and profit ...

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