Let's Talk Marketing Budgets: A Helpful Guide To Follow.
Hello readers,
Today I wanted to touch on, you guessed it, a guide into marketing investment for your company.
Whether you’ve got a digital marketing strategy ready to go, or you’re thinking about developing one soon, this article will give you a better understanding of what the implementation process is going to look like for your B2B service business.
I often find myself fielding several questions about what comes next. Some of these common FAQs include:
Of course, it’s only natural to want the answers to these questions so that you can plan accordingly. That’s why I’ve put together a complete breakdown of the activities and average costs involved in implementing a digital marketing strategy for your brand.
So, whether you’ve got a digital strategy ready to go, or?you’re thinking about developing a digital marketing strategy soon, this quick article will give you a better understanding of what the implementation process is going to look like for your business.
What are the baseline activities of your digital marketing strategy?
While every digital marketing strategy is tailored to the individual brand, several key activities ultimately form the baseline of every successful marketing strategy. These are the things that all businesses should be doing, at an absolute minimum, to ensure they achieve the best results.
Your baseline activities are:
In addition to your baseline activities, your digital strategy may also outline several specialised marketing tasks based on the unique needs and requirements of your brand. E.g. Search Engine Optimisation (SEO) or Social Media ads.
Given the specialised nature of each of these, it’s not always the best approach to leave these solely with your internal marketing resources. Instead, it’s often more effective to hire experts in these areas to help you carry out these tasks. (We can help with this - we take our network partnerships very seriously!)
What does your baseline activity look like in a practical sense – and how much is it going to cost you?
I’ve broken down some rough, ballpark numbers to help give you a general idea of what to expect when you implement your new digital marketing strategy:
Digital Marketing Strategy – $10,000 - once off project
This is one of the most important investments you will make as a business, so you need to make sure that you do this properly. I can chat to you about helping you to develop effective digital strategy.
Marketer - Approximately 90k per annum (Full Time)
An internal Content Marketer will help you to execute the baseline tactics of your digital marketing strategy. Their salary can be prorated based on your needs. Typically, 2 days a week is a good place to start. Or, to save you hiring an internal person - and having to manage them, myself and my team can handle this for you -?ask us how .
领英推荐
2 Blogs per month – $1,000 p/m
Hiring a great copywriter to produce insightful content can help to establish your brand as an authority in your industry.
Ask Marketing are proudly partnered with? Christopher Melotti ?and his amazing copywriting and message marketing team. They create amazing blog content that earns remarkable results for your business. They’re reliable and super adaptive to your needs.
Software Subscriptions – variable costs
This will all depend on the number of subscriptions you have and the level of access, but at the very minimum, you should be considering the following tools:
Softwares like these are usually subscription-based and can cost between $20 and $100 each per month (to give you a basic idea).
Website Development/Refresh – $15,000 - once off project
While website costs can vary significantly, budgeting around this amount will help to ensure you receive a finished digital product that generates results for your brand.
I hope that this has helped to provide you with more clarity on the finer details of implementing a digital marketing strategy in your brand.
Of course, your specialised marketing tasks will also add to the cost of your strategy, however, this is an important investment in your brand that will soon pay dividends when you start to see the results that effective marketing can achieve.
Spending the budget to build a strong marketing machine today will set your business up for success tomorrow and long into the future – especially if it’s all united under a smart digital marketing strategy.
As always, comment or DM me if you have any questions. My inbox is always open.
Have a beautiful week.
PS. If you want to learn more about this topic, Stephanie King has elaborated more in the blog below.