Patrick Kennedy of Mister Sparky believes your annual marketing budget should be based on the following:
- If you want to maintain your existing level of business, spend 7% to 8% of sales.
- If you want to grow your business, spend around 12% of sales.
- If you want see aggressive growth, spend approximately 15% of sales.
Do you agree with this line of thinking? If not, what percentage of your annual sales do you direct toward marketing efforts?