Budget wisely for marketing and advertising

Your advertising budget should amount to three to five percent of your annual revenues, although you’ll need to consider adjusting up or down depending on the extent and spending levels of your competition. This budget should cover any community sponsorships you may provide, as well as your advertising in newspapers, magazines, Yellow Pages, newsletters, on radio and television, by direct mail, and any other promotional avenues you choose.

Source: US Small Business Association

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