Having a well-rounded brand strategy helps you identify the marketing channels you must focus on, and defines every aspect of how your business is viewed by your customers.
Marketing and advertising is an integral component of every business. The US Small Business Administration recommends that businesses with do under $5 million in gross sales and whose net profit margin is in the 10-12% should spend at least 7-8% of their gross revenue in marketing and advertising. In other words, if you are doing $100,000 in annual revenue, you should be spending around $8,000 a year in advertising your business.