It is recommended that you invest about 15% to 20% of your monthly profit into online marketing. Internet marketing agency pricing varies, as does the online marketing cost for different strategies and packages.
Why do companies engage in digital marketing? Companies invest a lot in online marketing, mainly because it is effective in more ways than one. It leads to better and faster return on investment, enhances the company’s overall image, and increases your customer base on the Web.
Your budget will depend on my factors:
– What you are selling
– How intense the competition is
– How easy or difficult it is to find potential customers
– How important brand exposure is to you
– Your business type
– Your profit margin
– Your growth plans
It will take much testing to determine an optimum online marketing cost, and it is best to consult an expert. However, spending less than 10% of your available monthly profit is not going to make much of an impact on your competition. This is especially true if your business is in its growth stage when you need to invest heavily in the strategy and tools that will promote, sell and create revenue.
How much of your available profit do you re-invest in digital marketing? Shoot me an email at johnny@johnnymurray.com.