The best way to determine your online marketing budget.

TommyCarey Level X³

May 22, 2017, 9:40 am

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The best way to determine your online marketing budget.

When trying to figure out your online marketing budget I want you to know that it's different for everyone. You could be making $1,000 a month or $100,000 a month and that be the main factor when you're trying to figure out your budget to push into marketing to increase your sales. In this discussion I'll go over some key points on how to determine your online marketing budget.

Your Monthly Profits
Figuring out your monthly budget really depends on your monthly profits. If you're making $10,000 a month then you don't want to invest $10,000 into your budget because you won't be able to build a bubble to fall back on in case everything goes south. You need to play it smart and invest 10% to 50% of your profits into your marketing campaign.

Let's say you're profiting $10,000 a month and only want to invest $1,000 of that into your marketing. I would say you're an idiot because no one needs $9,000 a month to survive or fall back on. I would suggest investing half of your profits because anyone can survive on $5,000 and also build a nice bubble to fall back on. If you're doing it right, the more you invest will mean the more you profit. So if you're only investing, $1,000 and you could afford to invest $5,000, you're just holding yourself back.

What You Can Afford To lose
When it comes to investing, you only put in what you can afford to lose. This rule flows into marketing campaigns as well because they're not always successful. If you're investing 10% of your profits because you don't make much, you better be ok with losing that money. If you're investing 50% of your profits I hope you have some sort of bubble to fall back on because there's no guarantee that you'll be profitable.

A lot of times when investing into online marketing campaigns you will break even, but don't worry because that's still a win. If you're investing $1,000 into your online marketing budget and you make $1,000 back, you need to look at this as a good way of building long term relationships with people who love what you're selling or doing. If you treat your customers and clients well, they will likely send referrals which in turn will increase your profit overall

Your PPC cap
When investing in a PPC campaign you either need to read up on all the platforms and the best way to optimize your campaign, or hire a company that does this as a service. This will only increase your chances of being profitable in a short amount of time because you won't be wasting money on the learning process. Investing in PPC varies niche to niche and if you're in a competitive one you could be spending thousands per day compared to a low competition niche where you could spend just $10 a day and be at the top of the rankings all day long

There is always a PPC cap when it comes to online marketing, it just depends on how big your market is. When I talk about a cap, I'm referring to how much you could possibly spend day to day and not what your personal cap is. You could be capped at $100 a week or $1,000,000 a week, you just need to figure out what it is so that you don't overspend. Obviously the lower caps will be easier to dominate since there won't be as much competition. I've actually been in niches where I could not find a cap that my budget allowed and it was pretty upsetting. I would set up a PPC campaign, but not activate it, and try to figure out the caps per day. I would set it at $1,000 a day and raise it by $500 to see if the amount of clicks would increase. Some campaigns would not stop going up, which was upsetting because I would never be able to compete with most of the advertisers that were targeting the same keywords But this shouldn't upset you because there is always a way to get your ads in front of people looking for your service or product

SEO
When it comes to and online marketing budget you need to think of SEO just as much as you are with PPC. This is because of the sole reason that SEO can bring in customers from around the globe searching for your keywords. You could be targeting 10 keywords but end up ranking for 100 and not realize it until you're getting clicks from obscure long tailed keywords I've done plenty of SEO campaigns and some of the keywords that I get a lot of traffic from would have eluded me in a PPC campaign because they were so obscure lol.

The only downside with an SEO campaign is that it takes time and you need a good budget to keep it going for 6+ months in competitive niches. I've had clients complain after 2 months when they were in a difficult niche and I told them it could take up to a year to see any traffic jumps. You need to be patient when it comes to SEO if you're investing money into it and watch your rankings weekly to see if anything is moving.

When investing into SEO, you can't worry about making money tomorrow from you campaigns because that's just not how it works. You're INVESTING which means it will take time to see profits from this part of your overall game plan.

In Conclusion:
You need to play it smart when it comes to investing in your online marketing budget. You need to invest what you're comfortable losing as well as creating a bubble of profits to fall back on. Invest in SEO and don't get worried if it isn't working right away, you're doing this as a passive way to create revenue at a later date.

Remember to follow me
https://www.seoclerks.com/user/Razzy

Thanks!

Razzy

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coconutcountry

Thanks. That's a really good answer to a difficult topic. How much are you willing to invest to knock,out your competition? Squeezing out those who themselves dont like having you around can be a legitimate strategy. But there's no way around it: you should have an effective advertising campaign since ads are the lifeblood of a business.

9 years ago

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vinaya

My website is not making profits. Therefore, my main question is how much budget should I allot for this website that is not making any profits yet. My website contains affiliate products, if the visitors buy the products I will make money. How do I ensure that the visitors buy the products. Yes, I should never set a budget for marketing campaign that I cannot afford to lose. let say I can set $100 budget and even if I lose this $100, it does not hamper me much. If I spend $100 and markeyty my website, how do I gurantee that the target traffic I reach also converts? These are some of the questions that a marketer has to answer.

8 years ago

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Corzhens

When we had our computer supplies retailing business, I was the one doing the budgeting because I know that I can check on every number. With the budget, we were always short in the beginning so I had to push for a loan to augment our capital. And when the business was getting a good number in sales, I had increased the budget. With the computation I was doing, it is always the overhead that was on my mind. The business wouldn’t run without the overhead expenses so there should always be money to cover such expenses. The excess is for the incidental expenses.

8 years ago

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augusta

The most important factor that would determine one's marketing budget is the site profit.No business minded person would not know that to make a profit or break even one's income must exceed expenses.So the primary aim is to see that your expenses marketing campaigns inclusive is less than the income not the other way round and one would be doing great.This is the most important factor, the rest points are just secondary factors.

8 years ago

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The best way to determine your online marketing budget.

The best way to determine your online marketing budget.

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coconutcountry

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