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Creating a Pallet Business Marketing Budget

Calculating a budget with a calculator
Kevin SageKevin Sage
April 7, 2023

Nearly every industry uses pallets to handle, transport, assemble, and store products. Made usually of wood, pallets serve as a base to help keep products safe and protected. This is why the pallet industry in the U.S. has grown by half in the last 10 years alone.

Getting in on this booming industry requires money, and ensuring you properly manage that money requires a budget. One of the pivotal items in your pallet manufacturing business budget is marketing. Without it, customers won’t even know you exist or why to patronize your business over others in the field.

Below we’ve provided a clear and comprehensive guide to help you create a pallet business marketing budget, and it all starts with a solid marketing strategy or plan.

Create a Marketing Plan

Marketing Plan

A key part of your overall pallet manufacturing business plan should be a thorough and detailed marketing plan or marketing strategy; you can then use this plan as the basis for developing a realistic marketing budget. A practical and effective marketing strategy for your pallet manufacturing business should serve as a roadmap to your objectives and contain certain key components.

Customer base

  1. Who are your existing customers?
  2. How did you acquire them?
  3. How can you convert them into repeat customers and/or leads for additional customers?

Target Market

  1. Who comprises your target market?
  2. How many customers does this constitute?
  3. What characteristics do they share?
  4. What differences, or segments, exist among them?
  5. How can your product or message most effectively reach them?

Competitive Analysis

  1. Who is your competition?
  2. What assets and liabilities do these competitors possess?
  3. What unique selling proposition (USP) can you offer customers with greater value?

Marketing channels

  1. Which marketing channels will be most effective in reaching your target market? (More on this below.)
  2. How will you leverage these channels in order to attract those new customers?
  3. How much will it cost to use these channels to acquire each new customer?

Armed with this information, you can develop a marketing budget to help you achieve your goals.

What Is a Marketing Budget?

A marketing budget represents all your business's funds to promote your products and services.

Marketing budgets can–and should–include the gamut of elements contained in your marketing plan, including:

  1. Paid search advertising
  2. Logos and branding
  3. Website development
  4. Content creation
  5. Social media advertising
  6. Influencer campaigns
  7. Email marketing platforms
  8. Software and tools

Why Do I Need a Marketing Budget?

A realistic and practical marketing budget is fundamental to building and expanding your pallet manufacturing business while avoiding wasting precious funds. It allows you to ensure you’re not spending too little on marketing to generate sales or too much and wasting precious dollars on efforts that don’t produce results. With a solid and well-thought-out marketing budget, you’ll know precisely how much to spend and in what areas to get maximum returns on your investment.

Five Steps to Creating Your Marketing Budget

You can develop a thorough and effective marketing budget in five simple steps.

1. Identify Your Goals

First, you must identify precisely what you want to accomplish with your marketing efforts: building brand awareness, getting leads to join your mailing list, or promoting a new product line. Once you decide on the broad objective, start honing in on the details. Turn these general goals into specific, realistic, timely, measurable, and attainable so you’ll know where to put your attention and the funds to achieve them.

2. Outline Your Customer Journey

What pathway will new customers take from complete unawareness about you or your business to purchasing pallets from you? This pathway is known as a sales funnel and consists of three stages:

  1. Awareness – Your prospective customers discover your brand, even if they remain unclear about your precise products and services.
  2. Consideration – These prospects learn about your offerings and take a curious interest in them.
  3. Decision – Leads decide to become customers and make a purchase.

How can you best serve your target market at each marketing funnel stage?

3. Research Your Target Audience

What are the demographics of your target market? Define every relevant factor you can think of to help market more effectively to them: location, industry, size/reach, social media presence, etc.

Ways to collect this vital data include:

  1. Google Analytics
  2. Social media insights
  3. Direct feedback from your audience, such as through a Facebook poll, Instagram Stories question boxes, or free Survey Monkey questionnaires

Explore, as well, the market trends that influence or expand your audience demographics in the near future.

4. Calculate Your Budget

You must examine your business’s overall money situation to create a pallet business marketing budget. Determine your current income and expenses. Ask yourself how much you are okay with spending on the business every year, quarter, or month.

You can map out your pallet business’s marketing budget in one of two ways:

  1. Determine what percentage of your budget you can devote to marketing; most new businesses choose this option.
  2. Calculate your business revenue and apply a percentage to your marketing; many businesses already earning steady revenues use this method.

5. Track Your Marketing Plan and Adjust it as Needed

As your pallet manufacturing business grows, you must track what’s effective and what’s not. A basic spreadsheet is all you really need to accomplish this. Create a column representing every month, and itemize each individual element of your marketing budget in the rows; then, create another row where you track the objectives you laid out in the first of these five steps. As each month closes out, note your spending on each item and analyze how well or not it helped you move toward those objectives. As you notice changes to your budget that need making, make them.

Break-even Analysis

Person analyzing graphics

A clear marketing budget will allow you to perform a break-even analysis showing how much revenue you need to cover your budget. Such an analysis is integral to a comprehensive business plan that helps you acquire funding for your pallet manufacturing business and gives you clear guidelines for moving forward successfully with your marketing budget.

Marketing Channels

Here are some main ways to spend your marketing budget on digital marketing. You can use each of these as line items on your budget spreadsheet. There are many offline marketing channels, including print and radio ads and outreach and events.


Branding may include, among others:

  1. Fonts
  2. Logos
  3. Color pallets
  4. Images
  5. Social media templates

Solid branding gives a more professional look to your pallet business.


Your pallet business website is one of your most central and fundamental marketing assets, as your website is where your business is located on the internet.

Email Marketing

Email marketing includes new subscriber email series, email newsletters, and notifications of promotions and events. The keys to successful email marketing are to build a big email list of interested, targeted leads and use all the email tools at your disposal to maintain steady communication with them.

Written Content Marketing

Writing educational content like blogs and articles about pallets and their use and care is a way to position yourself as a trusted and reliable expert in the industry. You also create more informed buyers this way, which can also help you increase sales. You can even trade posts with other related websites to partner in marketing to the same or similar audiences and, in that way, expand your own pool of potential buyers.

Video content

Similarly to written content marketing, your business can create videos for similar purposes. Audiences respond well to messages with a visual element, especially video.


SEO Search Engine Optimization

Whatever type of online content you create, search engine optimization (SEO) is how you spread the word about that content to potential viewers. With SEO tools like keyword research, competitive analysis, and tracking rankings, you can optimize your content and your site and marketing strategy to reach as many interested, targeted eyes as possible via search engines like Google.

Social Media Marketing

Social media is an online hub of activity where you can always find new potential customers to target and further foster your relationships with existing customers. Social media marketing involves promoting your pallet manufacturing business on social platforms like LinkedIn, Facebook, Instagram, and Twitter.

Successful social media marketing requires investments in steady social media content production (such as videos, photos, writing, and graphics) and active engagement and interaction with your followers, visitors, and partners.

Other Digital Marketing Channels

Paid advertisements (PPC advertising,) webinars, and affiliate marketing are other ways to attract customer attention and interest online.

Wrapping Up

There is a large market for pallets used across all industries. And, because pallets eventually wear out and require replacement, providing them offers much repeat business.

While pallet manufacturing is a lucrative business, you must remain competitive in the industry to thrive, which requires marketing. Marketing is how your customers become aware of your existence and what you have to offer them. And now you know how to create a pallet business marketing budget to help you achieve those goals.

For pallet manufacturers looking to increase their sales, schedule a 15-minute discovery call with the Pallet Company Marketing pros today!

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