How Much Does Digital Marketing Cost?
What does my business need to spend a year on marketing? What social sites should my company invest in? How much does digital marketing cost? Our business has a marketing budget set, how much should go to digital marketing?
Lets first look at the overall marketing budget for a business per year. Around 7-12% of your annual revenue needs to be invested into overall marketing. So, a business bringing in $250,000 should plan on spending between $17,500-$30,000 annually in marketing.
Remember, you must spend money to make money. Most social media companies, like KCC Social Media, offer a FREE consultation that you should take advantage of. This will help you see what you need to have or improve the online presence for your business.
So, why spend it on Digital (Online) Marketing? By 2021, approximately $120 BILLION will be spent on Digital Marketing. Now is the time to get into the game. 80% of customers going online to review a company with most of their first stops being the company’s social media sites, then their website.
What should your target budget be for Digital Marketing? We suggest 30-45% of your overall marketing budget. Let’s look at the $250,000 company, and focus on the high-end marketing budget of $30,000. 30% would be $9,000 or $750 a month and 45% would be $13,500 or $1,125 per month.
Digital Marketing monthly retainer cost could range from $450-$1000 per month. Depending on your business needs. But know this, Digital Marketing is a must for your company. You can do it yourself or you can focus on what you do best and then hire a company to do it for you.
To get started with your FREE digital marketing consultation follow this link and answer a few questions. We will get back to you within 24-48 hours with the results. KCC Social Media…The Magic of Online Marketing.