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Expense Budget
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Some companies spend 50% of sales on their website, some spend 10%, and some spend nothing at all. Spending levels are strategic and tactical. Since the Internet is so new in business, you don't really have guidelines for this--except perhaps the post-Internet-boom trend towards websites that pay their own way.
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Like all budgets, website expense budgets are plans. They are spending plans, activity plans, sales plans, web plans, all linked to the disciplines of careful projection and resource allocation.
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Where do you get budget numbers for a website? How do you set a budget and organize it? What are some standard ways to measure your budget? How do they apply to a website plan?
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Watch your spending, make it proportional to your business resources and your Internet sales. The Internet boom is over. From 1995 to 2000, capital was flowing into Internet in such unprecedented volumes that many websites spent far more than they brought in. Those days are over.
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Don't forget your business forecasting fundamentals. A budget is an educated guess and a management tool. It is a business forecast.
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Yes, it is harder to set budgets when you don't have past budgets to go on. Still, even a new company needs a budget.
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There are ways to reap enormous marketing benefits from free activities, barter, alliances, and public relations. This is particularly important on the Web.
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