Blog Post Don’t Be Afraid: Setting a Marketing Budget

Don’t Be Afraid: Setting a Marketing Budget
Oct

1

2013

Don’t Be Afraid: Setting a Marketing Budget

[vc_row][vc_column width=”1/1″][vc_column_text] 90% of people who contact me do so without having a marketing budget in mind. It’s okay to expect a pro to tell you what things cost rather than setting a budget. That’s part of the consultation we do. The problem is, marketing services aren’t really like getting an appliance fixed in that there are so many different approaches we can take. Whenever I’m working on a consult with a client, I’ll typically get to the dreaded question somewhere in that first conversation. [/vc_column_text][/vc_column][/vc_row][vc_row][vc_column width=”1/1″][vc_column_text] What’s Your Marketing Budget? [/vc_column_text][vc_column_text] There’s something about defining budgets that totally freaks people out. They love the idea of doing marketing – then when it comes time to talk about actually spending money on their marketing, the fear sets in. I get that. Most people are so absorbed in the process of creating their marketing collateral that they don’t really think about an advertising budget. When it comes time to talk about spending money on something you’re not sure will bring you tangible results, it can get harrowing. [/vc_column_text][vc_column_text]

Unfortunately, you have to determine a budget.

[/vc_column_text][vc_column_text] Being unwilling to really set limits on spend can have so many negative consequences. It’s always tough when a client tells us we can spend what we need to or increase spend on their advertising, then they freak when the bill comes at the end of the month. Since our rates are fixed, the bill usually has more to do with the amount spent on PPC or other marketing. [/vc_column_text][vc_column_text] This is why it’s so important to understand that setting a budget isn’t just about what your marketing expert charges. It’s about what you can spend on your TOTAL marketing program from month to month, assuming you’re not going to make any money back. So if you have $10,000 to spend on a marketing campaign, it’s smart not to spend $5000 or $10,000 in one month. Stretch that money out and start off slowly. But you have to know how much money you’re working with – whether it’s $30 or $100 or $1,000,000 there needs to be a number. [/vc_column_text][vc_column_text]

Avoiding Being Swindled

[/vc_column_text][vc_column_text] Many people are hesitant to tell a marketer what they have to spend because they feel we’ll push up lower fees to give ourselves more off the top. It’s better to tell a marketer that you have xxx amount of money to spend, then shop around and see what different marketers can offer for that price. [/vc_column_text][vc_column_text] Do Google searches to get an idea of what the recommended daily spend is across engines for your industry. I always think it’s a good idea for clients to look around and comparison shop. Some people end up spending the kind of money on a marketing firm that they’d spend on a car. In our industry there isn’t a good opportunity to test drive, so why wouldn’t you shop around? [/vc_column_text][vc_column_text] A good marketer is someone you can talk to about what you assets are, how to improve them and how to make the most out of your money. If you disclose spend to a marketer and they’re pushing you to spend more without giving you any other options, I’d advise looking elsewhere. Of course if you want 1,000,000 new hits to your website in month one and you can afford $6.00 an hour to pay someone, your expectations might be a problem. It’s definitely good practice to talk to 3-4 marketing pros, get their honest opinion on how far your budget will get you, then proceed with a decision. [/vc_column_text][vc_cta_button call_text=”Tell us your budget, and let us help you get to the next level!” title=”Email Amber Now!” target=”_self” color=”wpb_button” icon=”none” size=”wpb_regularsize” position=”cta_align_right”][/vc_column][/vc_row]

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