Budget for paid advertising
- Thread starter rohnsmith
- Start date
Marketing budget is a "myth"
Budget should only depend on one factor, how much ROI you can achieve from it ..
if you can get 200% ROI and you have the capacity to cater to unlimited amount of work your marketing budget should be a few million a week or even more as long as you can maintain the ROI
It goes with any form of advertising..
Budget should only depend on one factor, how much ROI you can achieve from it ..
if you can get 200% ROI and you have the capacity to cater to unlimited amount of work your marketing budget should be a few million a week or even more as long as you can maintain the ROI
It goes with any form of advertising..
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E
eventdomain
We spend about 5 to 10% per year roughly on paid weblinks and a few adverts. Most of our traffic is from simple word of mouth activity eg: people notice our web tools and recommend us, bookmark, purchase advert space, mention us on blogs etc etc etc.
Everything is word of mouth with us, its the best thing going! There's nothing better than a great recommendation from a happy visitor or client.
Trouble is advert space these days is either too expensive or not targeted at all for our needs.
Everything is word of mouth with us, its the best thing going! There's nothing better than a great recommendation from a happy visitor or client.
Trouble is advert space these days is either too expensive or not targeted at all for our needs.
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Still say a piece of string.
I mean if you did seo. it cost you "x"
you do ppc it cost you "y"
you do social media "z"
you do all of the above you pay "x,y,z"
marketing budget should average 10% like Nina said. (box standard)
But you must then look at industry and competition.
Look at cost per conversion which is more important.
If you have a £10 mark up and advertising costs £3 pound per unit sold then you are a happy bunny because you still make £7 profit.
If you spend £11 on marketing costs per unit then your doing some thing wrong.
Its all in the details so i'll stick with my initial comment "It cost a piece of string" but dont use shoe strings they can be counter productive.
I mean if you did seo. it cost you "x"
you do ppc it cost you "y"
you do social media "z"
you do all of the above you pay "x,y,z"
marketing budget should average 10% like Nina said. (box standard)
But you must then look at industry and competition.
Look at cost per conversion which is more important.
If you have a £10 mark up and advertising costs £3 pound per unit sold then you are a happy bunny because you still make £7 profit.
If you spend £11 on marketing costs per unit then your doing some thing wrong.
Its all in the details so i'll stick with my initial comment "It cost a piece of string" but dont use shoe strings they can be counter productive.
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No its not a myth. It is a structure that most big businesses follow.
10% is an industry standard profile to follow.
In practice it depends on your business.
10% is an industry standard profile to follow.
In practice it depends on your business.
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