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Budget

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    • #8562
      Melissa Farley
      Forum Participant

      Hello,
      Interested whether anyone has a formula/process they would be willing to share for calculating annual marketing budget? Percentage of student fees? Percentage of overall income?
      Thanks,
      Mel

    • #8631
      Rhiannon Matthews
      Forum Participant

      Hi Mel,

      This is the first year that I’m doing this role and it’s a question I’m asking at the moment too – I’d love to know how others plan. It’s good to base it on a percentage of overall income but the percentage is up for debate. It should be a minimum of 1-5% (not including salaries). Growing businesses can easily spend more than that.

      Please let me know if you find out more on this or would like a chat, and good luck! Rhiannon

    • #8667
      Melissa Farley
      Forum Participant

      Hi,
      I found some research that indicated a marketing budget of $50 – $250 per student was indicative, with the higher end generally attributed to private school spend.
      The utility of this depends on what is included of course, some schools were including scholarships i.e. value of, not advertising thereof.
      Mel

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