I promised to address the subject of a marketing budget this week.
Delving into it, I discovered a frightening truth: how much money to allocate for marketing simply depends on how much you have and how famous you are.
The more your name is recognized, the less you’ll have to spend on marketing.
Do you think Stephen King has to spend much, now that his name is a literally a “household word?”
He has people searching the internet and bookstores for his newest releases. They fly off the shelves the minute they are available for sale.
So, what I can tell you about a marketing budget is this:
Spend until it hurts.
Spend it when you can least afford it because that’s when you most need it.
When you’re rich and famous, you can sit back and rake it in…without spending a nickel.