Ep. 22 - What's the Right Marketing Budget for Your B2B Company?

Do you actually know how much your company should be spending on marketing — not what you spent last year, not a gut feeling, but a number tied to where you want to go? If the answer is "not really," this episode is for you.In this conversation, Wayfind Marketing CEO Steve Phipps pulls back the curtain on one of the most common questions he gets from B2B leaders: How much should we be investing in marketing? The answer isn't a single number — it's a framework, and the structure behind the number matters just as much as the dollar amount.In this episode, you'll learn:The 3–10% revenue range for B2B marketing investment and how to find your right number based on your growth stageThe 5 budget categories every B2B marketing investment should include — and why skipping the first one is where most companies go wrongReal budget breakdowns for a $5M and $10M company, including what each category should costThe two operating models (outsourced agency vs. in-house marketing manager) and what makes each one work — or failWhy bringing in a fractional CMO or marketing coach can be the missing piece for in-house teams that aren't getting resultsHow to audit your existing marketing spend before adding a single dollar moreThe metrics that actually matter — and how to tie them back to revenueTimestamps:00:00 How Much To Spend01:29 Why Budgets Feel Hard03:39 Percent Benchmarks05:04 Turning Percent Into Dollars06:39 Five Budget Buckets07:18 Strategy Before Tactics10:19 Website Foundations10:57 Content That Converts16:13 Promotion And SEO20:56 Tools And Platforms23:40 Tool Testing Reality24:05 Marketing Operating Models24:36 Outsourcing to Agencies27:06 In-House Marketing Setup28:37 Fractional CMO and Coaching30:39 Budget Examples by Revenue33:57 Audit Before You Add38:03 Metrics That Matter41:05 Budget Follows Strategy43:46 Wrap Up and Next StepsThe one thing Steve wants you to walk away with: Let your budget follow your strategy, not the other way around. When you build a budget around clear goals, you have a growth plan. Without it, you just have a list of expenses.Resources mentioned:Episode 15: Vanity Metrics — a deep dive on the difference between meaningful metrics and feel-good numbersGuide™ Marketing Assessment — a free 5-minute tool to see what's working (and what's not) in your current marketingSchedule a conversation with the Wayfind team — click "Discuss Your Marketing."Wayfind's Guide™ Marketing Framework — the system behind the strategy discussed in this episodeEndless Customers by Marcus Sheridan (formerly They Ask, You Answer) — the sales and marketing framework Steve coachesGrowth Minded Marketing is the podcast for B2B CEOs and business leaders who are ready to grow with confidence and stop guessing at their marketing. Hosted by AnnieLaurie Walters and Steve Phipps of Wayfind Marketing.