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Setting An Ad Budget

There may be a simple formula for your business.

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If you're in the dark about how much money you should spend on marketing, don't worry. Setting a budget for your marketing efforts may be easier than you think. Every industry has a typical percentage of sales that's used for advertising and marketing. To find out your industry average, ask trade groups for information. Three to five percent of gross sales is generally a good rule of thumb for a small business.

Excerpted from 303 Marketing Tips: Guaranteed To Boost Your Business