Website Cost versus Total Marketing Budget
News Website Cost versus Total Marketing Budget
Sorting out your costs in terms of marketing and website costs is a worrying issue for some people. It’s important to approach the issues in an organised fashion…there are many questions which will need to be answered before you are happy with your plan and also confident that your financial allocations are the best possible. The first question to answer is how much should my marketing expenses be in total? Only when you know the answer to this can you effectively manage your decision making processes and ensure that things are well balanced.
Making these decisions takes some planning and you will need to consider all kinds of expenses; marketing staff if relevant, agency costs, suppliers of special equipment, media costs etc. The next point to look at is how you will allocate your budget across the various channels both online and offline as well as making choices regarding how best to spread the budget across the huge variety of online channels.
One of the biggest spends for any savvy business should be that which is devoted to your SEO marketing…for many people this is included in their website costs, especially if you are working with a marketing agency which can also create a website for you. SEO and SEM is a huge part of any successful business today and you’ll need to be prepared to invest in it. As well as this, you will need to factor in the costs of banner advertisements and social media presence. Social media accounts for a decent portion of your most effective marketing strategy…or it should do if you’re well organised and prepared to invest. But one of the fastest growing channels for marketing is Mobile marketing and this will also eat up some budget if you’re willing to spend on it.
Your total marketing budget will depend on your business and how established or otherwise it is. For new businesses with only projected revenue figures, a good rule of thumb is to calculate what 7% amounts to…and that should be dedicated to marketing for your first year. Around 4 – 5% of this should be given over to digital marketing in total…inclusive of website costs and digital marketing such as SEO and social media costs.
Your marketing budget needs to be planned, planned and planned again; every possible outlet should be explored, costed and explored again to ensure that all eventualities are taken into consideration. A badly planned launch due to your marketing strategy being “off” can set a business back years or in the worst case scenario, totally destroy it.
Speak to your designers to learn more about potential costs before you decide to take on any strategies which could take you over budget; it is vital to set a reasonable and sensible budget and then stick to it. Spending with abandon on strategies which may not be right for your business is a common mistake which many people who are new to the world of ecommerce make and it’s one which can easily be avoided with careful planning.
We hope this guide has been of some value. If you want to us to make the most out of your marketing budget, please call us on 01538 750 538