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but still, is there any a good rule of thumb, an accepted industry ballpark standard expressed as a percentage of gross sales, some age-old wisdom passed down in MBA programs or whatever?
Please do include your opinions & experiences with all forms of advertising, including print and postal-mail campaigns, not just PPC, banner ads or eMail campaigns.
Beg pardon if this is already answered in other post(s). If so, please do kindly point out the links. Thanks
With AdWords, it is so easy to attribute revenues to marketing dollars that it seems silly to arbitrarily set a budget like this. Barring any cash flow problems, I will continually invest in my AdWords budget until the marginal gross profit equals zero. In other words, the cost of an additional dollar of ad spend will bring in just enough revenue to cover the cost of delivering the product to the customer.