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Your Marketing Budget and You

Posted By : Gary Simon Date Created : October 13th, 2012 Date Updated : May 30th, 2018

Fun House IIA mistake that many new business owners make is thinking that the first thing that parents will think about when they are planning a party is moonwalks. While quite often parents do think about hiring some sort of a bounce house, who is to say they are going to choose your business? The bounce house business is becoming a very competitive one, and it takes much more than simply having your bounce house at a few parties in order to thoroughly get ahead in this business. Marketing is extremely important if you are focused on making sure that your business will succeed.

Of course it’s not possible to start spending tons of money on marketing ideas if you are sure exactly how much you can spend. How are you able to figure out exactly what your marketing budget should be? There are a few different ways that you can set up your marketing budget, starting with saving a certain amount of money. If you do your research beforehand you will know exactly what it costs to advertise in your local newspaper or on your local radio station. Once you know that you can start saving up a specific amount of money every week in order to get to that budget and the more money you accumulate, the more often you will be able to advertise.

This, however, is not always easy to do which is why many business owners use the percentage method to figure out what their advertising budget will be. The percentage budget means that any time you book a party with moonwalks you take a percentage of the revenue from that party and put it towards advertising. A standard amount is about 5 to 10%, but you can make the amount be anything you want. This way you know that you will have a specific amount of money set aside for every party with moonwalks you book for your marketing purposes.

Finally, never underestimate the tool of bartering. Bartering is a great way to get you free advertising! In order to barter all you need to do is figure out who you would like to advertise with, and then contact them to see if they would have any needs of having a bounce house in the near future. This is a great way to get advertising without actually having to spend any of your money.

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Your Marketing Budget and You
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The percentage budget means that any time you book a party with moonwalks you take a percentage of the revenue from that party and put it towards advertising
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