Set Your Small Business Marketing Budget Right

Posted by SeanGallahar under Startups
From http://www.i7marketing.com 3298 days ago
Made Hot by: NolanGreen on November 9, 2015 11:38 am

These are good rules to help you in establishing a budget. However, when it comes to establishing a specific dollar amount it is important to remember that there is no one-size-fits-all amount for your marketing budget.

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Comments

Written by Utkarsh Talwar
3294 days ago

This was useful, Sean. Marketing is probably the most difficult thing we have to mull over at our startup, and this was some good advice. We're sticking to inbound marketing for now, because we haven't had good experience with paid advertising in the past.

Anyway, thanks for the post!

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Written by SeanGallahar
3293 days ago

That's okay. You just start a new comment.

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Written by Utkarsh Talwar
3294 days ago

That is very true. Facebook has been absolutely useless for us, while Twitter is mildly useful, but the signal-to-noise ratio is too high there, so the tweets tend to get lost in the sea of content pretty quickly. We're trying to create lots of good quality content now and trying new platforms like Triberr to try and improve outreach.

There really is no way around testing.

P.S. Sorry, I couldn't see any reply option below your comment and didn't know how to respond to it so I posted it here. (Still new to BizSugar)

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Written by SeanGallahar
3294 days ago

Thank you for your comment Utkarsh. I'm glad you enjoyed the article. As I mentioned in one of the previous comments, not every business can or will benefit from social media in same ways, and some will benefit more from search engine marketing than social media. I'm glad to see you're testing different options in order to promote your startup to see which one works better. Testing is the only sure way to find the results that best suit your startup.

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Written by lyceum
3294 days ago

Sean: Spot on! Time is money! :)

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Written by lyceum
3294 days ago

Sean: Thanks for your input. I asked the question as a social media evangelist, struggling with getting potential clients to understand the value in new media activities and that you should invest energy, time and money, in order to receive return on involvement.

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Written by SeanGallahar
3294 days ago

100%. Time is #1 investment when it comes to social media. Even though there are a lot of free tools and platforms that don't require you to spend money in order to interact with people, time is a huge investment. It comes down to either-or scenario.

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Written by lyceum
3294 days ago

Sean: Is the rule-of-thumb still about 10% of your revenue figure? How much of this could be allocated for social media activities? ;)

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Written by SeanGallahar
3294 days ago

When it comes to social media, it's all about the platforms costs, and your audience. Facebook can reach thousands of people with just $5, for example. My advice is to analyse the data, see where the opportunity for growth is, and create a plan that you can follow. Some businesses will find investing in search engine marketing a better strategy than social media.

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