What is the Marketing Budget for your Network Marketing Business?
There are 3 things every successful business must have:
- A vision
- A business plan
- A marketing budget
Typically in a small business, marketing accounts for 15% or more of projected gross sales revenues. Not profits, sales revenue.
So what is your projected sales volume?
Ahhh, the catch-22 for most in our profession. In network marketing its almost unheard of to find someone who has an actual written business plan with all the items that are found in business plans for other businesses – Your product or service, the overall market for your product or services, your target market, the competition, your projected sales, Your projected revenue and earnings, your sales and marketing methodology, a budget for your marketing.
Do you have a business plan? If not, why not? Is it that you have not taken your network marketing business seriously? That you are not treating it like a business, you are treating it like a hobby?
Well, it’s time you started treating it like a business, so it can pay you like a business.
Let’s Take a Look at an Outline of My Business Plan for the Next 3 Months:
Industry(s) – Health and Wellness
Products – Customized Nutritional Supplements/Sports Nutrition – $37 billion in the US
Products – Weight Loss/Weight Management – $65 billion in the US
Products – Energy Drinks – $60 billion in the US
Products – Anti-Aging Skin Care/Personal Care – $11 billion in the US
Target Market – Baby Boomers; Professionals – Insurance, Real Estate, Executives and Management, and small business owners; Working Moms
Competition – Grocery Store vitamins; Monster, 5 Hour Energy and Red Bull; Herbalife, Nutrisystems, and 1 million diets on the bookshelf; I’m not sure but I will find out if I start focusing on skin care, I know we are much better and less expensive than most I see advertised.
Projected sales – Q1 2016 – 120,000 SVP (In USANA, we see sales in terms of sales volume points that are then converted to dollars depending on the market you are in)
Projected sales revenue – $12,000.00
Sales/Marketing Methodology – Go Pro Recruiting Mastery Techniques, Facebook, Twitter, Blogging, Video Blogging/Periscope
Marketing Budget – $1800.00
What Do I spend My Marketing Budget On
There are many things you can be spending your marketing budget on. Samples are the number one expenditure in Network Marketing. If you are not putting your products in the hands of potential customers regularly you are not selling much. Event costs are another area to budget for. Not just the rental of a room, but AV needs, samples, decorations, and prizes. Business cards are another marketing cost. How about flyers to advertise your events?
So now that you know what one looks like, its time to take your Network Marketing business seriously and treat it as a business by writing out a business plan and a marketing plan today.
I do hope you decide to join us on our adventure. Once that momentum kicks in, there is no limit to what peaks we can climb together.
- Our email is email@example.com
- Richard’s phone number is 619-277-6495
- Patty’s phone number is 619-277-2824
- On Twitter – twitter.com/healthnfreedom or @healthnfreedom
- On Facebook – facebook.com/richardandpatty.burns
- Our USANA Website – onelifeintl.usana.com
#networkmarketing #entrepreneur #timefreedom #financialsecurity