Whats a reasonable marketing budget
Is it reasonable to believe that your business will be successful with a $300 monthly advertising budget? How about a $500 monthly budget? Of course, it all depends on the business, but I think it’s safe to assume most business people understand that you have to spend money to make money. Most business classes teach that to be successful a business should budget between 7 to 10% of their expected monthly gross revenue toward marketing. For example: If your monthly revenue was $25,000, your monthly advertising budget should be around $2,125. If you were directing that $2,125 to internet marketing it would likely be driving an estimated 720 new visitors to your website per month. On the other hand, if you were spending it on print advertising in your local newspaper what could expect to see in the way of new visitors to your store or website? My guess would be 50 or less.
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Tags: Colorado SEO, Denver search engine optimization, Denver SEO, Fort Collins SEO, inbound marketing, internet marketing, Loveland search engine optimization, search engine marketing, Search Engine Optimization (SEO), SEM
One Response to “Whats a reasonable marketing budget”
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Great question, we wondered the same thing when it comes in inbound markeing. When we went to look for a baseline for an inbound marketing budget data was sparse. So we went of to create our own, and the results surprised us. Our 2010 poll numbers are showing that inbound marketing is coming in at 1-3% of the total marketing budget, and organic placement is cost much more in time then dollars.
I hope that helps.