Calculate your budget more strategically
We’ve put together a simple Excel formula to work out the cost of your marketing budget. This formula takes into assumption your transaction amount and helps you work out what you need to spend based on your average conversion rate.
I use this simple tool in my workshops and seminars to help people work out their marketing budget.
Click here to download Google Ads Budget Calculator
In terms of industry standards, it is best to use 10-20% of your profit towards your marketing if you are looking to grow your business. Once you reach consistency, marketing budget can be around 4-6%. If you marketing budget is 0, then this tool is definitely for you.
You can adjust this spreadsheet to include repetitions as well. This would work well for industries like personal training, cleaning, property maintenance where the initial sale generates continuity.