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How Much Money Do I Need to Spend on Advertising?


Q: I've never really done much advertising for my business; I've always relied on networking and word-of-mouth. Now I'd like to launch a small campaign, but I'm frightened it will cost a lot of money. How can I figure out where to start?

A: The first thing you must do is calculate your minimum and maximum allowable ad budgets:

· Step 1: Take 10 percent and 12 percent of your projected annual, gross sales and multiply each by the markup made on your average transaction. In this first step, it's important to remember that we're talking about gross markup here, not margin. Markup is gross profit above cost, expressed as a percentage of cost. Margin is gross profit expressed as a percentage of the selling price. Sell an item for $150 when it only costs you $100, and your markup is 50 percent. Your margin, however, is only 33.3 percent. This is because the same $50 gross profit represents 50 percent of your cost (markup,) but only 33.3 percent of the selling price (margin.) Most retail stores in America (carpet, jewelry and so on) operate on an average markup of approximately 100 percent, some operate on as little as 50 percent markup and others add as much as 200. More expensive items, such as cars, recreational vehicles and houses, typically carry a markup of only 10 to 15 percent.

· Step 2: Deduct your annual cost of occupancy (rent) from the adjusted 10 percent of sales number and the adjusted 12 percent number.

· Step 3: The remaining balances represent your minimum and maximum allowable ad budgets for the year. At this point in the calculation, you may learn that you've already spent your ad budget on expensive rent, or you might also learn that you should be doing a lot more advertising than you had previously suspected.

Now let's calculate an ad budget. Assume that my business is projected to do $1 million in sales this year, I have a profit margin of 48 percent, and my rent is $36,000 per year. The first thing to do is calculate 10 percent of sales and 12 percent of sales ($100,000 and $120,000, respectively).

Second, we must convert my 48 percent profit margin into markup, because markup is what we've got to have to make this formula work. Most business owners know their margin by heart, but never their markup. To make the conversion from margin to markup, simply divide gross profits by cost. Dividing $480,000 (gross profits) by $520,000 (hard cost) shows us that a 48 percent margin represents a markup of 92.3 percent. Bingo.

Now we multiply $100,000 times 92.3 percent to see that our adjusted low budget for total cost of exposure is $92,300. Likewise, we multiply $120,000 times 92.3 percent to get an adjusted high budget for total cost of exposure of $110,760. From each of these two budgets, we must now deduct our $36,000 rent. This leaves us with a correctly calculated ad budget that ranges from $56,300 on the low side to a maximum of $74,760 on the high side.

Most advertising salespeople will tell you that "5 to 7 percent of gross sales" is the correct amount to budget for advertising, but don't you believe it. It simply isn't possible to designate a percentage of gross sales for advertising without taking into consideration the markup on your average sale and your rent. Yes, expensive rent for a high-visibility location is often the best advertising your money can buy, since a business with a good sign in a high-visibility location will need to advertise significantly less than a similar business in an affordable location.

To prove this, just look at the example above and change the rent to $75,000 per year. In this case, the ad budget would range from $17,300 to $35,760, representing just 1.7 to 3.5 percent of sales. The formula I've given you is the only one that reconciles your ad budget with your rent as well as the profitability of your average sale. Good luck!

Steve Moundzouris, 423-653-2201 BigWater Media Group, Bigwater Media Group is a full service advertising and marketing agency.

http://www.bigwatermg.com


Todays News by officejax free advertising and ad exchange solutionsMORE RESOURCES updated Wed. October / 23 / 2019

Quibi Sells Out $150M In Launch-Year Advertising Inventory - Deadline
Quibi Sells Out $150M In Launch-Year Advertising Inventory  Deadline

That's what advertising is now - Campaign US
That's what advertising is now  Campaign US

Roku Is Acquiring The Video Advertising Platform Dataxu For $150 Million - Forbes
Roku Is Acquiring The Video Advertising Platform Dataxu For $150 Million  Forbes

Facebook advertising VP Rob Goldman announces his departure - CNBC
Facebook advertising VP Rob Goldman announces his departure  CNBC

Why Miller Lite is scorning social media to fight the new war in beer advertising - Fast Company
Why Miller Lite is scorning social media to fight the new war in beer advertising  Fast Company

Meredith Sells Money.com to Puerto Rican Advertising Company - Adweek
Meredith Sells Money.com to Puerto Rican Advertising Company  Adweek

What's The Next Growth Engine For Digital Advertising? - Radio & Television Business Report
What's The Next Growth Engine For Digital Advertising?  Radio & Television Business Report

Creative hot shop JohnxHannes is folding - AdAge.com
Creative hot shop JohnxHannes is folding  AdAge.com

Adaptive Ad Systems Inc. Expands Advertising Reach at Colleges and Universities in Time for the Beginning of the 2020 Election Campaign - Yahoo Finance
Adaptive Ad Systems Inc. Expands Advertising Reach at Colleges and Universities in Time for the Beginning of the 2020 Election Campaign  Yahoo Finance

Daily Forecast: Connected TV Advertising Driven by YouTube, Hulu and Roku - eMarketer
Daily Forecast: Connected TV Advertising Driven by YouTube, Hulu and Roku  eMarketer

Facebook IQ: Generation Z Wants to See More Diversity in Advertising - Adweek
Facebook IQ: Generation Z Wants to See More Diversity in Advertising  Adweek

Digital Signage Enhances Advertising for Bluewater Promotions Inc. - Yahoo Finance
Digital Signage Enhances Advertising for Bluewater Promotions Inc.  Yahoo Finance

Online Influencers Tell You What to Buy, Advertisers Wonder Who's Listening - The Wall Street Journal
Online Influencers Tell You What to Buy, Advertisers Wonder Who's Listening  The Wall Street Journal

A new book documents Avedon’s advertising legacy - Wallpaper*
A new book documents Avedon’s advertising legacy  Wallpaper*

TikTok, Pandora Advertising Found on Pirate TV Platform TeaTV - Digital Music News
TikTok, Pandora Advertising Found on Pirate TV Platform TeaTV  Digital Music News

Brand Safety Alert: How Toxic is Today's Programmatic Digital Advertising Environment to Brands, Advertisers, and Publishers? - Yahoo Finance
Brand Safety Alert: How Toxic is Today's Programmatic Digital Advertising Environment to Brands, Advertisers, and Publishers?  Yahoo Finance

ELA Advertising Earns Great Place to Work-Certified™ 2019 Designation - Yahoo Finance
ELA Advertising Earns Great Place to Work-Certified™ 2019 Designation  Yahoo Finance

False Advertising Claims in the U.S. – Even “Corny” Disputes Are No Laughing Matter - JD Supra
False Advertising Claims in the U.S. – Even “Corny” Disputes Are No Laughing Matter  JD Supra

How to make your brand worth talking about - AdAge.com
How to make your brand worth talking about  AdAge.com

Supponor To Provide Virtual Advertising Tech at FC Barcelona's LaLiga Home Games - Sports Video Group
Supponor To Provide Virtual Advertising Tech at FC Barcelona's LaLiga Home Games  Sports Video Group

Why Australia needs a ban on taxpayer-funded political advertising before elections - The Guardian
Why Australia needs a ban on taxpayer-funded political advertising before elections  The Guardian

The Future of OTT: Fraud Detection, Addressable Advertising And Real-Time Audience Enrichment - TVRev
The Future of OTT: Fraud Detection, Addressable Advertising And Real-Time Audience Enrichment  TVRev

Daily Forecast: Facebook Is Still King of Social Video Advertising - eMarketer
Daily Forecast: Facebook Is Still King of Social Video Advertising  eMarketer

Google's copying Facebook, Microsoft's trying to steal ad dollars from Amazon, and WPP's big loss - Business Insider
Google's copying Facebook, Microsoft's trying to steal ad dollars from Amazon, and WPP's big loss  Business Insider

Facebook Bans Ads That Promote Voter Suppression – But Political Advertising Is Here To Stay - AdExchanger
Facebook Bans Ads That Promote Voter Suppression – But Political Advertising Is Here To Stay  AdExchanger

New Results Find that Hispanics Feel Underrepresented in Beauty Advertising - Beauty Packaging Magazine
New Results Find that Hispanics Feel Underrepresented in Beauty Advertising  Beauty Packaging Magazine

Minneapolis-St.Paul Metro Transit Extends Exclusive Advertising Contract with Intersection through 2022 - Digital Signage Connection
Minneapolis-St.Paul Metro Transit Extends Exclusive Advertising Contract with Intersection through 2022  Digital Signage Connection

Amazon’s Advertising Is Quickly Gaining On Google…And Other Small Business Tech News This Week - Forbes
Amazon’s Advertising Is Quickly Gaining On Google…And Other Small Business Tech News This Week  Forbes

Colling Media Study Reveals Effectiveness of Advertising on Online Dating Apps - PRNewswire
Colling Media Study Reveals Effectiveness of Advertising on Online Dating Apps  PRNewswire

Category: Samsung Ads Leadership Forum at Advertising Week 2019 - BeetTV
Category: Samsung Ads Leadership Forum at Advertising Week 2019  BeetTV

N.J. couple sues Taco Bell for ‘deceptive advertising’ after they were charged an extra $2.18 - WJW FOX 8 News Cleveland
N.J. couple sues Taco Bell for ‘deceptive advertising’ after they were charged an extra $2.18  WJW FOX 8 News Cleveland

13 masterpieces of social advertising in the Russian Empire (PICS) - Russia Beyond
13 masterpieces of social advertising in the Russian Empire (PICS)  Russia Beyond

Spoiled Milk: A Cautionary Tale Of Advertising And Labeling For The Animal Products Industry - JD Supra
Spoiled Milk: A Cautionary Tale Of Advertising And Labeling For The Animal Products Industry  JD Supra

PAC finds effective, inexpensive advertising options through social media - KXLY Spokane
PAC finds effective, inexpensive advertising options through social media  KXLY Spokane

5 Movies That Altered Advertising and Marketing - Adweek
5 Movies That Altered Advertising and Marketing  Adweek

California: Entertainment, Media and Advertising Impacted by AB5 - The National Law Review
California: Entertainment, Media and Advertising Impacted by AB5  The National Law Review

Brexit date downplayed in government advertising shift - BBC News
Brexit date downplayed in government advertising shift  BBC News

Richard Avedon's Advertising Work Is The Focus Of A New Book - Forbes
Richard Avedon's Advertising Work Is The Focus Of A New Book  Forbes

Queens lawmakers applaud new advertising campaign and website that educates tenants on new rights - QNS.com
Queens lawmakers applaud new advertising campaign and website that educates tenants on new rights  QNS.com

Taxpayers funded $174m in government advertising last financial year - The Guardian
Taxpayers funded $174m in government advertising last financial year  The Guardian

Netflix and HBO shows are getting pirated on this app that's been bankrolled by advertisers such as Pandora, BET+ and TikTok - CNBC
Netflix and HBO shows are getting pirated on this app that's been bankrolled by advertisers such as Pandora, BET+ and TikTok  CNBC

Facebook opens search ads to all advertisers - Search Engine Land
Facebook opens search ads to all advertisers  Search Engine Land

AT&T's Xandr purchases TV advertising company clypd: source - Reuters
AT&T's Xandr purchases TV advertising company clypd: source  Reuters

AcuityAds' Updated Algorithm Delivers 15% Increase in Campaign Performance to Advertisers - Yahoo Finance
AcuityAds' Updated Algorithm Delivers 15% Increase in Campaign Performance to Advertisers  Yahoo Finance

Snapchat’s targeting direct-response advertisers with new dynamic ads product - Digiday
Snapchat’s targeting direct-response advertisers with new dynamic ads product  Digiday

GOP Senator Links Medical Marijuana Claims To Tobacco Industry Advertisements - Marijuana Moment
GOP Senator Links Medical Marijuana Claims To Tobacco Industry Advertisements  Marijuana Moment

Advertising sector watchdog ASCI upholds complaints against 229 misleading advertisements for violating... - Firstpost
Advertising sector watchdog ASCI upholds complaints against 229 misleading advertisements for violating...  Firstpost

Advertising Week 2019: It All Starts With Brand Trust - Forbes
Advertising Week 2019: It All Starts With Brand Trust  Forbes

Amazon's Starting to Pull Away From Competitors in Search Advertising - Motley Fool
Amazon's Starting to Pull Away From Competitors in Search Advertising  Motley Fool

Facebook advertising VP steps down - AdNews
Facebook advertising VP steps down  AdNews

Taco Bell being sued for 'false and misleading' advertising - Fox Business
Taco Bell being sued for 'false and misleading' advertising  Fox Business

An 'Always-On' TV Attribution Advertising Partnership Arrives - Radio & Television Business Report
An 'Always-On' TV Attribution Advertising Partnership Arrives  Radio & Television Business Report

Facebook changes political advertising rules ahead of expected UK general election - Sky News
Facebook changes political advertising rules ahead of expected UK general election  Sky News

Amazon nibbles away at Google's search advertising dollars - AdAge.com
Amazon nibbles away at Google's search advertising dollars  AdAge.com

What Is Display Advertising? Definition, Targeting Process, Types, Networks, Examples, and a Management Checklist - MarTech Advisor
What Is Display Advertising? Definition, Targeting Process, Types, Networks, Examples, and a Management Checklist  MarTech Advisor

Trump dominates in digital, while Joe Biden twiddles his thumbs advertising on TV - legal Insurrection
Trump dominates in digital, while Joe Biden twiddles his thumbs advertising on TV  legal Insurrection

Barcelona strike Supponor virtual advertising deal - SportsPro Media
Barcelona strike Supponor virtual advertising deal  SportsPro Media

Some Advertisers See Loopholes In California Privacy Law 10/23/2019 - MediaPost Communications
Some Advertisers See Loopholes In California Privacy Law 10/23/2019  MediaPost Communications

Former Martin Agency exec Joe Alexander sues Martin and IPG for $50 million - AdAge.com
Former Martin Agency exec Joe Alexander sues Martin and IPG for $50 million  AdAge.com

Google Dominated the $55 Billion Search Advertising Market for Over a Decade. Here's How Amazon Plans to Shake Things Up - Inc.
Google Dominated the $55 Billion Search Advertising Market for Over a Decade. Here's How Amazon Plans to Shake Things Up  Inc.

YouTube is letting politicians reserve advertising space for 2020 election - The Verge
YouTube is letting politicians reserve advertising space for 2020 election  The Verge

DPP develops IMF for advertising | News - IBC365
DPP develops IMF for advertising | News  IBC365

How advertising rates vary by category on Amazon - Marketing Land
How advertising rates vary by category on Amazon  Marketing Land

Social Chain's Lumaland merger heralded as 'an advertising gamechanger' - The Drum
Social Chain's Lumaland merger heralded as 'an advertising gamechanger'  The Drum

Rethinking and Predicting the Future of TV Advertising - Adweek
Rethinking and Predicting the Future of TV Advertising  Adweek

Taika Waititi's Jojo Rabbit is advertising with parody clickbait. - Slate
Taika Waititi's Jojo Rabbit is advertising with parody clickbait.  Slate

The Good Ole Boy & Girl JV Network Welcomes Health Advertisers to Promote Their Products & Services on Targeted Health Email Lists - The Herald Journal
The Good Ole Boy & Girl JV Network Welcomes Health Advertisers to Promote Their Products & Services on Targeted Health Email Lists  The Herald Journal

Meet the Women Running LA’s Top Advertising Agencies - Adweek
Meet the Women Running LA’s Top Advertising Agencies  Adweek

House panel pressures Reynolds to stop advertising Vuse e-cigarettes, pushes for documents - CNBC
House panel pressures Reynolds to stop advertising Vuse e-cigarettes, pushes for documents  CNBC

Honest Ads Act Is False Advertising - The Wall Street Journal
Honest Ads Act Is False Advertising  The Wall Street Journal

Google, Apple, Amazon, and Microsoft's earbud advertising explained - Fast Company
Google, Apple, Amazon, and Microsoft's earbud advertising explained  Fast Company

TripAdvisor selects Mother as its new creative agency - AdAge.com
TripAdvisor selects Mother as its new creative agency  AdAge.com

The death of TV ads; Amazon's ad problem; Frito-Lay rethinks its products - Business Insider
The death of TV ads; Amazon's ad problem; Frito-Lay rethinks its products  Business Insider

Couple sues Taco Bell for deceptive advertising after being overcharged $2.18 for Chalupas - FOX 10 News Phoenix
Couple sues Taco Bell for deceptive advertising after being overcharged $2.18 for Chalupas  FOX 10 News Phoenix

Coverage of Trump's Doral Resort Fiasco Was Worth at Least $1 million in Free Advertising - LA Magazine
Coverage of Trump's Doral Resort Fiasco Was Worth at Least $1 million in Free Advertising  LA Magazine

Livestreamed shootings have advertisers demanding better safety from sites like Facebook and YouTube - CNBC
Livestreamed shootings have advertisers demanding better safety from sites like Facebook and YouTube  CNBC

Alliances are Advertising Week's big trend - Axios
Alliances are Advertising Week's big trend  Axios

Amazon held its first big ad conference last week, luring about 400 people to Seattle - CNBC
Amazon held its first big ad conference last week, luring about 400 people to Seattle  CNBC

Highest-ranking woman in Pittsburgh advertising is stepping down - Pittsburgh Business Times
Highest-ranking woman in Pittsburgh advertising is stepping down  Pittsburgh Business Times

China’s advertising industry waits to hear the winners of the Effie marketing awards - Euronews
China’s advertising industry waits to hear the winners of the Effie marketing awards  Euronews

Juul halts advertising in United States, replaces CEO - The Verge
Juul halts advertising in United States, replaces CEO  The Verge

From the Archives: Squash advertising - Los Angeles Times
From the Archives: Squash advertising  Los Angeles Times

Facebook agrees to pay advertisers $40 million over inflated video stats - AdAge.com
Facebook agrees to pay advertisers $40 million over inflated video stats  AdAge.com

Hyundai Card launches advertising team with Innocean - The Korea Herald
Hyundai Card launches advertising team with Innocean  The Korea Herald

Libby named Maine Press Association Advertising Person of the Year - By Staff - Courier-Gazette & Camden Herald
Libby named Maine Press Association Advertising Person of the Year - By Staff  Courier-Gazette & Camden Herald

What HBO's 'Succession' can teach us about advertising - AdAge.com
What HBO's 'Succession' can teach us about advertising  AdAge.com

Ethiopia telecoms privatisation can unlock advertising, mobile money - The Africa Report
Ethiopia telecoms privatisation can unlock advertising, mobile money  The Africa Report

Is it time to ban political advertising on Facebook? - IPS Journal
Is it time to ban political advertising on Facebook?  IPS Journal

Cannabis Tech Startup Fyllo Announces New Funding As Advertising Execs Join The Board - Forbes
Cannabis Tech Startup Fyllo Announces New Funding As Advertising Execs Join The Board  Forbes

Amazon’s advertising arm is getting so big it held a major conference for brands - GeekWire
Amazon’s advertising arm is getting so big it held a major conference for brands  GeekWire

TikTok explains its ban on political advertising - TechCrunch
TikTok explains its ban on political advertising  TechCrunch

Trump threatens to sue CNN for ‘falsely advertising as news organisation’ - South China Morning Post
Trump threatens to sue CNN for ‘falsely advertising as news organisation’  South China Morning Post

Will Congress Pass the Hotel Advertising Transparency Act of 2019? - Peter Greenberg.com Travel News
Will Congress Pass the Hotel Advertising Transparency Act of 2019?  Peter Greenberg.com Travel News

Twitter "Unintentionally" Used Your Phone Number for Targeted Advertising - EFF
Twitter "Unintentionally" Used Your Phone Number for Targeted Advertising  EFF

New connected TV study debunks 3 common myths about political advertising - AdAge.com
New connected TV study debunks 3 common myths about political advertising  AdAge.com

House subcommittee asks e-cigarette companies to stop advertising - CNBC
House subcommittee asks e-cigarette companies to stop advertising  CNBC

ENVY Advertising announces the hiring of Ross Culligan and Jax Harney - Shots
ENVY Advertising announces the hiring of Ross Culligan and Jax Harney  Shots

Is Extended Reality The Future Of Digital Advertising? - Forbes
Is Extended Reality The Future Of Digital Advertising?  Forbes

Snapchat Introduces a New Ad Unit for Ecommerce Advertisers - Search Engine Journal
Snapchat Introduces a New Ad Unit for Ecommerce Advertisers  Search Engine Journal

Cracking the code on podcast advertising for customer acquisition - TechCrunch
Cracking the code on podcast advertising for customer acquisition  TechCrunch

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