All businesses need to invest in marketing. Not only does it bring in new customers, but it keeps up an impressive standard with your customers.
But it’s hard to know how much to spend on marketing and what to focus your marketing efforts on. Especially if you’re a small business that has just gotten started.
So, we have put together a marketing 101 post to help you know all the answers!
So how much should you spend on marketing? Most experts agree that about 5% of your revenue should be spent on marketing.
This does increase slightly depending on how much money your business makes, but it should stay around here. This is important to know because it’s something that you should work into your business’s budget.
Marketing is something that should be invested in. It’s how the world will see your company, so you need to ensure that it’s effective.
First Things First
The first thing to focus your marketing strategy on is your company’s website. Your website sells your company 24 hours a day, 7 days a week. Even when you’re busy and aren’t speaking to customers, your website does the talking for you.
Your website is very important to your business and it’s one of the first things that you should invest in to make sure that it’s the best it can be.
Other Bits and Bobs
There are many other things you can invest in as well when it comes to your marketing.
Social media is a very common one used nowadays. While it seems like you should be able to do social media yourself, eventually hiring a team or signing with a marketing firm can help bring your social media to the next level.
E-newsletters are also something to look into. They can be sent to your customers every week and make sure that they keep your business in mind.
Traditional marketing is also something to invest in at some. The power of radio and television is sometimes forgotten, but it can be very good for your company.
Marketing is a huge part of business and investing in it is investing in your company in general. A good marketing scheme gives your business a fighting chance and it is very worth it.