How much should you spend on advertising?

 ”Advertising is a key element for any business and one which you neglect at your peril.” 

Having said that, how much should you spend on advertising? 

There are a number of popular methods by which businesses calculate their adverting budgets such as putting aside a set amount per month, or taking a percentage of their monthly turnover and using this as their ad spending.  While there is no right or wrong amount to set aside for advertising,  you really need to have a budget and be prepared to adjust it as your business grows.  

Perhaps the easiest way to do this is to take a percentage of your monthly turnover and set that aside for advertising.  This will ensure that as your business grows, you keep yourself in the public eye and continue to build, we know this as, increasing brand awareness.  However, you do need to be sensible with regards to seasonal swings and possibly set yourself a minimum monthly advertising budget which can be reviewed at the end of each financial year. Whichever plan you chose stick to it. In good times or in bad.