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Why I am asking for your budget

Posted by Ilise Benun on

Lisa Smith Youngdahl was a member of a Basic Marketing Group in 2010, and she is still regularly in touch with her group members for continued marketing support. She credits her buddies, Tricia Okin and Dianne Rohlkohl, with providing the fine-tuning help she needed for her latest newsletter, “Why I am asking for your budget.” I not only love the continued group support, but I also love the way Lisa addressed this common client question:

When a client approaches me about a new design project, I will ask what the budget is for this project. Often, the client is not prepared for this question.Why do you think I would ask this question?

a. I want to find out the highest possible cost the client willing to pay.

b. I have no idea what I'm doing, or how much to charge.

c. To help my client obtain the best value for what his business can afford.

Of course, if you think about it, c is the right answer. A good designer wants to help the client and create successful marketing that will help achieve the desired action. If the budget is known, the designer can offer cost effective options that will work within your price range. Having an idea of what you can spend will allow you to work with the designer to prioritize the strongest features you need that fit within your budget.

This process helps create an informed decision about what is the best choice for your marketing, and which might yield the best ROI.

If you feel lost determining a number, a rule of thumb is that 5-10% of your gross profit should be spent on marketing. A new business may need to spend more than an established one.

If you want to join a marketing group (where you might, like Lisa, find lasting marketing-buddies), see details here or fill out this form. There is a new group starting next week, and there is one spot open! 

 

The post Why I am asking for your budget appeared first on The Marketing Mix.


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