How to Decide On Marketing Budget

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If you are a business owner and you are unsure how much you should be investing in your marketing, here is the deal. The easiest answer to your marketing budget problem is that as long as you are getting some return, you should be good. I mean, if you are investing a dollar and if you are getting a dollar and 10 cents in return, that is great right?

However, here are some tips that will help you in deciding on your marketing budget:


Tip no. 1: Invest From Profit

According to Harvard Business Review, your marketing budget should be 7 to 15 percent of the total revenue you are generating. It means if you are generating a 100 dollars, you should put back 7 to 15 dollars back into your marketing.

Tip no. 2: Set Sales Target

Another way to look at your marketing budget is to ask yourself how many sales you need. So if you have 10 sales people and you know you want 100 leads you need from each one of them, you need 1000 leads in total. Now ask yourself, what your lead cost is. So if a lead cost you 10 dollars that is a marketing budget of 10 thousand dollars. If you are a company that is just starting out, it may be that you are unsure of your lead acquisition cost. At this point, you should may be try and focus on first experimenting and understanding how much does it take you to generate a lead.

Tip no. 3: Research Competitors Investment

If you are a business, you have a market. This market will have other businesses as well that are competing for your audience. What you can do here is to invest in your marketing budget just enough to be competitive in that market. So you will need to do some research and look into how much your competitors are spending in their business on a monthly basis. From here, you can use this information and spend just as much or a little bit more to be enough competitive for your competitions.

Tip no. 4: Hire Creative & Professionals
Marketing is not just about showing ads. You can buy billboard spaces and Facebook ads and show a million people your product but what goes alongside that is the content that you are showing. So alongside spending in ads, you want to spend in great talent. You want to spend on creating ads that are more compelling than your competitors’. Likewise, you want to invest in your marketing team. You need people on board who are great assets for your company. Don’t just pick people who are willing to work for you at a certain wage but you want to look for people who are passionate about working for you.

Tip no. 5: Find Multi Marketing Channels
Your marketing budget should focus on diversification. Simply put, you don’t want to limit yourself to Google or Facebook ads. You want to create a multi- channel marketing plan. Everywhere your customer is, you want to target them. You want to get there and show ads on Instagram, Facebook, and Google and wherever else your audience is. Likewise, you want to invest in SEO, reputation management, branding and more. Don’t limit yourself to just ads. In terms of budget, you want to divide your budget in half to meet both paid advertising and organic marketing goals. If you do this, you will see the best results.

Summing Up

Marketing in a right direction is necessary to gain popularity and to turn your product in a brand. Nowadays, businesses are done online and every online business and digital marketing works hand in hand with SEO. If you are not seeing any positive result even after marketing, perhaps you need to visit prepostseo.com for SEO tools. Google has confirmed that it focuses on 250+ SEO factors when it comes to rank any website. So, before you launch a website for business, consider these SEO tools for successful ranking on Google.

MARINA to Enhance Maritime Industry Investment Climate

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The Maritime Industry Authority (MARINA) will enhance the investment climate in the domestic shipping, as well as in the shipbuilding and ship repair industries to further encourage private sector participation the maritime industry.

In a forum on the results of the assessment on the implementation of the Republic Act (RA) 9295 or the Domestic Shipping Development Act of 2004, MARINA revealed that there is a need to increase awareness among stakeholders about the provisions of RA 9295. Once of which is the granting of incentives as it was noted that from 2014 to 2017, only 103 of the 2,148 imported ships from were granted with Value Added Tax (VAT) exemptions.

Hence, the MARINA has committed to formulate an attractive financing scheme and to review existing incentive programs for the players in the domestic shipping and shipbuilding industries. The agency will also review regulations to accelerate fleet modernization programs, as well as modernize naval ships and maritime security assets. The enhancement of shipbuilding research and development, modernization of shipyard facilities, and provision of regular training for shipyard personnel will also be prioritized.

On a positive note, the MARINA assessment revealed that the deregulation of the domestic shipping industry has promoted the ease of doing business through the reduction in the processes, processing time of applications, and flexibility in fleet operation. This resulted to a steady increase in the issuance of the Certificate of Public Convenience (CPCs) since 2010, allowing more shipping operators to take part in the enhancement of the navigability within Philippine borders by serving existing routes, as well as new routes.

The MARINA believes that through the availability of needed materials locally, the installment of modern shipbuilding and ship repair facilities, and the improvement of the quality management system, Philippine shipyards may increase its capability to construct an average of 500 gross tonnages (GT) to 2500 GT of tankers or roll-on / roll-off (RoRo) passenger ships for the domestic market.

Finally, in support of the ten-year maritime industry development plan (MIDP), the MARINA is set to implement a vessel retirement program for all ships that failed to meet the minimum classification standards of a government-recognized classification society to uphold maritime safety and environmental protection.

The MARINA has successfully conducted the forum on the results of the assessment of RA 9295 in collaboration with the International Finance Corporation – World Bank (IFC – WB).

Second Coming Goes to FEU

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“Second Coming” film director and Far Eastern University alumnus Jet Leyco led his team as guest speakers in an alternative class organized by the FEU Film Society and Reality Entertainment. This was held in line with the celebration of the university’s 91st Foundation Week.

Apart from Leyco, who is also an alumnus of FEU FilmSoc, the campus tour was also graced by actress Queenie Rehman, assistant director Kenneth Mandrilla, director of photography Malay Javier and Rommel Ruiz, another member of the camera department and Leyco’s fellow FilmSoc alumnus. The event was hosted by FilmSoc member Kyle Macorol.

“Second Coming” revolves around a stepmother (Jodi Sta. Maria) who, after moving in with her partner (Marvin Agustin), starts dealing with the past of her new family as she is haunted by her possessed stepdaughter (Angelica Ulip). With the film focused on the dilemma of being a second wife, Leyco looks at this as his take on the recurring “mistress” cliché present in other genres. Bing Loyzaga, John Arcilla and Rehman, who plays Ulip’s mother Raquel, co-star in the film.

Leyco, who also helmed “Bukas Na Lang Sapagkat Gabi Na” for Cinema One Originals 2013 and “Matangtubig” for QCinema 2015, explained that it is not about revolutionizing the genre to make an effective horror film but, rather, about making small twists to the standards of the genre. “It is about less jump scares, more on setting the mood and evoking the scary feeling instead of showing it,” he said.

Rehman, former Miss World Philippines 2012, found the production of the film a complete turnaround from her pageant days. She said that she was always conscious on making herself beautiful back then but in the film, she is covered with lots of make-up to the point that she is already unrecognizable. She also talked about the difference between shooting a film and taping for a television show, which lies in the small intricacies and shots that must be achieved, unlike in TV where editing does most of the job.

Mandrilla, who is also an FEU alumnus and part of the FEU Theater Guild, emphasized the importance of knowing the director’s vision and overall plan for the film, something he did not really have a hard time doing since this was not his first time working with Leyco. However, despite this familiarity, he still considers his work as assistant director a learning experience.

Leyco and Mandrilla further discussed the production of the film. The director revealed that the creative process is constantly changing and collaborative. He also had a little difficulty in telling a linear story since his previous works leaned towards non-linear narratives.

On the other hand, Mandrilla talked about time management in production – from making sure planned timelines are met to maintaining scene continuities to making sure prosthetics are up to par. Working with the actors is a different story, especially in this specific production, since they were working with a child actor. He shared that when approaching Ulip, he would try a different and calmer approach to create a comfortable environment not just for the child, but for the entire cast as a whole.

The FEU Film Society is the university’s premiere student organization dedicated in promoting film literacy and filmmaking and imparting knowledge to others. It is behind Sinepiyu, an annual film festival where films from inside and outside the university compete and find a venue; FEUlikulahan, a film screening event organized with the FEU President’s Committee on Culture; Piyu I Love You, a competition among its members, and many more. Advocacy filmmaker and FEU Department of Communication special lecturer Seymour Sanchez currently serves as its adviser.

“Second Coming” is now showing in cinemas nationwide.