How much should you spend on advertising your business? The price to promote your company can escalate quickly -- newspaper ads, banners, radio spots, direct mail, online marketing, telemarketing. It all adds up. Remember, there is no magic (budget) number. Identify what works for your business, keep tracking ROIs and improve them. The only relevance to turnover is cash flow and resources; I.e. what can I start with?

We would agree that we take time to develop a good marketing plan and budget, but it’s important because it ties all of your activities to tangible goals.
It’s also a great opportunity to focus on the future, generate new ideas, and inspire your team. Even a simple plan is better than none, but when you invest more effort upfront, you’ll have a better roadmap toward your goals.

Some research called advertising or marketing communications research is done prior estimating budget like-
• Industry and Market Research
• Competitor Analysis
• Marketing Audit
• Internal Marketing performance records
Knowledge of industry and market is taken into account before developing budget. Internal Records are useful in estimating cost by calculating ROI of previous marketing spends. So we do some research which is quite helpful in predicting marketing budget.