I’m sure you’ve heard of QuickBooks Online — it’s the online version of the popular QuickBooks accounting software. One of the great things about this software is that it allows you to see how much you’ve spent on marketing in one place. So if you’ve ever wondered how much money you spent on Facebook ads, Google AdWords, or any other type of online marketing, you can quickly find out in QuickBooks.
Use the Reports Available In QuickBooks Online
One of the things I love about QuickBooks is that it makes it easy to access the marketing analytics that I need. Even better, it makes it easy to download these reports so I can get them in my Excel spreadsheet. The best part? These reports are free!
So even if you don’t use QuickBooks, you can still get value out of it. One of the things I like best about this is that it makes it easy to cross-reference marketing efforts between different platforms (i.e. Facebook and Google Ads).
Create A Marketing Budget In Advance
Budgets are probably the most important part of any marketing plan. Without them, you’ll never be able to correctly determine how much you should be spending on each platform. This is why I love the idea of having a marketing budget in advance. By setting a budget and sticking to it, you ensure that you don’t waste money on random ads that haven’t been working for you.
For example, let’s say that you set a budget of $500 for the month on Facebook Ads. If you go over that but don’t spend any less than that, you’re breaking even. So you can continue to use that $500 until you reach the end of the month and then start over again with a new budget.
Set Up A Regular Spending Review
Another important part of any budget is reviewing how much you’ve spent and where your money has gone. However, this is easier said than done. It’s extremely easy to spend a lot of money without even realizing it. So rather than relying on your memory, why not set up a system where you can track your expenses?
By creating a spending review spreadsheet, you’ll be able to track your marketing expenses (as well as other expenses, such as travel and research) on a daily basis. This makes it easy to determine how much you’ve spent and where your money has gone. Why is this important? It allows you to track the effectiveness of each platform and enables you to identify areas where you can save money (if you stick to the budget).
So as you can see, setting up a marketing budget doesn’t have to be difficult. With a little planning and the right tools, you can easily manage your advertising expenses. This way, you can accurately determine how much you’ve spent and where your money has gone.