A budget to match your business plan

Build brand awareness and drive customer engagement at a cost you can afford.

Set marketing budget for my small business

A clear understanding of your target audience and a messaging strategy for how to reach them are the prerequisites for how to set a marketing budget. You need to identify your target market and develop customer personas that help you understand their pain points and needs. 

Not all people consume messaging the same way. Identifying which channels reach your targets is the next step in determining your costs. Small business owners have so many marketing channels available to them. A content-rich website gives your brand a home base. Email and text messaging are great for promoting your business, driving website traffic and collecting subscribers. Social media often works well for short-form content and videos. 

Once you identify how you’re going to reach your audience, you can begin to research the associated costs. There are small business marketing tools that can help you manage multiple channels at once, potentially consolidating some of your expenses. In fact, if done well, marketing doesn’t have to cost a lot to make a big impact on your bottom line.

How M&T can help

Your marketing budget is an extension of your business plan. To know how much you can spend on marketing, you need a solid market analysis, accurate financial projections, a clear mission statement and SWOT analysis. Each of these is a puzzle piece that fits together to give you a clear picture of how your business is going to operate profitably. M&T can provide guidance on the process of creating a business plan that includes a set marketing budget.

M&T Bank can provide resources to help you build an effective marketing strategy. Schedule an appointment with your local M&T branch.


Small Business Planning

Our resources can teach you how to get your small business in front of more people to increase brand awareness, gain visibility, increase business and much more. Learn more about small business planning.

Partner with M&T Bank

M&T’s Business Banking Specialists are ready to offer you support at any stage of your business. Get to know the advantages of being an M&T Business Banking client.