021 - How much do I need to budget for marketing?

Is there a guideline for how much money a vegan business should allocate to marketing? Maybe you're planning a business and you want to know how much you need to budget each month for marketing costs. Or maybe you want to know what a reasonable percentage of your turnover would be to put back into generating sales? Surely there's a recommended percentage that companies allocate to marketing?

The truth is, what each business needs to spend on acquiring new customers is wildly different. Would you launch a business if you had no idea how much it cost to make your product? No, of course not. So why would you launch a business without spending the same time working out how much it was actually going to cost you to get a customer?

About Vegan Business Tribe

Hosted by Vegan Business Tribe co-founder, David Pannell. Lisa & David have worked with some of the largest high-street brands and food manufacturers to help them understand and connect with the vegan marketplace. David is also the official UK agent for The Vegan Society's Vegan Trademark and Lisa writes the monthly business column in Vegan Food & Living - the biggest vegan print publication in the UK.

Vegan Business Tribe is where they give back with weekly content, seminars, business clinics, networking events, mentoring and online courses to help you create a successful vegan business. If you want to go beyond the podcast and connect with our community of like-minded vegan entrepreneurs or get support from Lisa & David, then head over to www.veganbusinesstribe.com where you will be welcomed with open arms!