{"id":3619,"date":"2024-03-07T16:37:10","date_gmt":"2024-03-07T22:37:10","guid":{"rendered":"https:\/\/www.beyondindigopets.com\/blog\/?p=3619"},"modified":"2024-10-08T17:27:00","modified_gmt":"2024-10-08T22:27:00","slug":"what-should-you-allocate-to-marketing-budgets-for-your-practice","status":"publish","type":"post","link":"https:\/\/www.beyondindigopets.com\/blog\/what-should-you-allocate-to-marketing-budgets-for-your-practice\/","title":{"rendered":"What Should You Allocate to Marketing Budgets for Your Practice?"},"content":{"rendered":"
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We are roaring into 2024, and it has been anything but dull. In order to keep your client books full, you must continue to devote money to your marketing efforts<\/a>. How much should your practice spend on it’s marketing budgets to keep front and center of current and future clients?\u00a0<\/p>\n\n\n\n\n\n\n\n

Small Business, Big Numbers<\/h2>\n\n\n\n

First, let\u2019s look at what small businesses across various industries do across America. The U.S. Small Business Administration<\/a> (SBA) recommends \u201csmall businesses with revenues less than $5 million should allocate 7-8 percent of their revenues to marketing.\u201d For a $1million \/ year business, that\u2019s $70,000 annually on marketing. For a $5million small business, that\u2019s a $350,000 recommended annual spend.<\/p>\n\n\n\n

For veterinary practices<\/a>, things look a little different. What percentage do most veterinary hospitals do for their marketing? If you do a quick Google search, you\u2019ll find many well-known companies in the industry are reporting that hospitals are spending anywhere from .5% to 5% on their marketing budgets.<\/p>\n\n\n\n

Using this range, here\u2019s where you should expect to fall for your marketing budget:<\/p>\n\n\n\n