Two important questions about internet marketing

[firefighter]

When it comes to internet marketing, there are two important questions on the minds of small business owners: how much and how is it spent.

First, I'll address the big question, what is the amount?

As a small business owner, you may have had trouble determining the right marketing budget for your business. It is a best practice to determine your marketing budget based on percentage of sales .

With this method, a good range is 8-15% of sales, unless you are overnight freedom ultra edition review introducing a new product or service, which could increase your budget by up to 50%.

Determining a marketing budget is easier with an existing business because you can use historical sales data to validate forecast sales. However, the initial sales forecast requires a real 'magic wand'. Good luck with that, because many startups never reach their expected sales, even when they are very conservative.

Setting your marketing budget on a percentage of sales  gives you more control, as you can diversify it based on sales revenue.

An example of this is $ 2 million in annual sales, and you'll need a marketing budget of between $ 160,000 and $ 300,000 to spend on all of your marketing efforts.

It sounds like a good plan, but the reality is always different. The Small Business Administration defines a small business as a company with sales of less than $ 6 million and fewer than 100 employees (depending on the industry); I bet most small business sales are a lot less than that. My view is that every marketing dollar has a value, and your marketing budget is probably in the 3-5% sales range. So the best example of this is annual sales of $ 1 million, and it will range from $ 30K to $ 50K, so spend your budget wisely.

Now that we've discussed the magnitude, let's move on to the next question. Where do we spend our marketing budget?

The traditional marketing "mix" (television and radio) has been published, on paper (newspaper, magazine, yellow pages, etc.), by mail (direct and e-mail) and online (the Internet). Combination is essential because, unless you have a highly specialized niche, with very limited media coverage, no outlet can provide sufficient prospects.

Current marketing mix stats support a 34% spend on broadcast, 33% printing, direct mail, 22%, and 11% online.

Now for a quick check on reality, the vast majority of small businesses cannot afford broadcast marketing. Consider this: the low-cost radio ad is $ 200 for a one-time 60-second slot and about $ 2,000 for production (setup) costs. When calculating duplicate ads over 3-4 weeks, your broadcast ads will cost $ 3,000 to $ 6,000 per week as a minimum. TV ads, including local cables, start at $ 4,000 for a 30-second slot even in a small market. Oh!

So let's take our 50,000 marketing budget and change the mix, leaving the same 54% for print and direct mail, and "jump in the train" (for online marketing) before it leaves the station.

Online marketing should include search engine marketing (free and paid), banner ads (on other websites), social media (Twitter, Facebook, LinkedIn, etc.), and even online classified ads (Yellow Pages, Craigslist, and eBay).

By far the best place to focus your marketing budget is free space. Make a concerted effort to get and stay on the search engine result pages (Google, Bing, Yahoo!) and you'll see less impact on your overall marketing budget. You can do the work required to get this job done or hire an internet marketing expert to facilitate the process. The goal is to rank the first page (the top ten) in search engine results, as more than 89% of all "clicks" traffic came from the top ten results of search engines.

On the other hand, the spending on search engine marketing (also called paid search or PPC) is worth the attention. Paid search definitely has its place because as an advertiser you pay for first page placement. It is definitely a good choice if you have an urgent presentation (seminar) or if you want to speed up knowledge of your product. Research has also shown that, psychologically, people believe the company is willing to pay for search engine placement.

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