During my tenure at IMA, Iâve spoken on accounting regulatory issues, providing testimony to U.S. Congress on internal controls and risk management as it relates to Sarbanes-Oxley implementation, appearing before the SEC and PCAOB on critical regulatory matters impacting U.S. global competitiveness, and I served as a member of the COSO (Committee of Sponsoring Organizations) board of directors, which delivers global guidance on internal controls and enterprise risk management.
1.) Credit unions spend more on marketing than you think. Credit unions were once seen as a quaint, sleepy little corner of the financial industry. Not anymore. The top 10 credit unions invest $155 million annually on marketing, and the top 100 credit unions spend a combined $400 million on advertising and related educational expenses.
So if you plan to dedicate five percent of your revenues and you expect to bring in $100,000 in sales that year, you would spend $5,000 on advertising. Once you have a handle on how much money you plan to budget for advertising, you need to figure out when you should spend that money during the next 12 months.The SBA has free sample worksheets and templates that you help you budget for advertising.ow much money do you need to promote the sale of a certain product at a given price? The SBA uses the example that if you spend $10 of the selling price of an item that cost $300 on advertising, then you should be willing to spend $3,000 in advertising to sell 300 units and generate $90,000 in sales.