The ageless question by small businesses and large corporations alike has always been: How much should I spend on marketing? In the past, these marketing campaigns ran in news paper articles, television commercials, billboards, and such. As the World Wide Web has evolved over the last 20 years, the business world, like the rest of existence, has changed drastically, but the question still remains. The difference now is there are new and ever changing marketing outlets raising a second question: Where should I put my marketing dollars?
The short answer to the first question is that it varies by organization but ideally, a business should spend around 5% to 20% of their gross revenue. Marketing needs to be treated as a fixed expense, just like rental space, equipment and employees. A business that doesn't market itself is sure to be short lived.
Secondly, the ever changing marketing arena presents a new challenge. While the traditional forms of marketing still apply there is a whole new set of marketing outlets in the world of internet marketing.
Advertisers spend a lot of money on Internet Marketing. They purchase ads through Google (Google AdWords), they hire web designers & Website SEO (search engine optimization) specialists to design their websites in order to rank the first page of most search engine searches, they run banner ads through an entire network of websites that run search boxes on them and so on.
I often tell clients to take a step back and first analyze their business. Does your product or service appeal to consumers as a commonly bought item (a new wardrobe, a book, etc.) or is it a product or service they only begin to search for when they find a need for it (an estate lawyer or new car). If you product is the ladder, website SEO is probably a useful marketing tool to allocate your dollars to. Most consumers today (especially those in the baby boomer generation and below) will turn to the internet to identify the product or service they are looking for. If that is in fact the case (and it is) then it would be beneficial to be on the first page of any search engine when the consumer searches for the product or service you have to offer.
Website SEO may be one of the more expensive forms of internet marketing but it has been proven again and again to work. It reaches consumers that are at the end of the buying cycle and ready to make a purchase of the product or service your company offers.
For solidomind more information about Internet Marketing, please visit website SEO is Probably a Useful Marketing Tool to Allocate Your Dollars
The short answer to the first question is that it varies by organization but ideally, a business should spend around 5% to 20% of their gross revenue. Marketing needs to be treated as a fixed expense, just like rental space, equipment and employees. A business that doesn't market itself is sure to be short lived.
Secondly, the ever changing marketing arena presents a new challenge. While the traditional forms of marketing still apply there is a whole new set of marketing outlets in the world of internet marketing.
Advertisers spend a lot of money on Internet Marketing. They purchase ads through Google (Google AdWords), they hire web designers & Website SEO (search engine optimization) specialists to design their websites in order to rank the first page of most search engine searches, they run banner ads through an entire network of websites that run search boxes on them and so on.
I often tell clients to take a step back and first analyze their business. Does your product or service appeal to consumers as a commonly bought item (a new wardrobe, a book, etc.) or is it a product or service they only begin to search for when they find a need for it (an estate lawyer or new car). If you product is the ladder, website SEO is probably a useful marketing tool to allocate your dollars to. Most consumers today (especially those in the baby boomer generation and below) will turn to the internet to identify the product or service they are looking for. If that is in fact the case (and it is) then it would be beneficial to be on the first page of any search engine when the consumer searches for the product or service you have to offer.
Website SEO may be one of the more expensive forms of internet marketing but it has been proven again and again to work. It reaches consumers that are at the end of the buying cycle and ready to make a purchase of the product or service your company offers.
For solidomind more information about Internet Marketing, please visit website SEO is Probably a Useful Marketing Tool to Allocate Your Dollars