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How to know how much to invest in marketing
Tips for planning your marketing investment
How to know how much to invest in marketing
There is no single correct answer to the question “How much compliance directors email lists should I invest in marketing for my company to see results?”. After all, this is a decision that depends on different aspects. However, there are some indicators. They help managers make decisions about the amount to invest.
In general, it is recommended that companies invest between 7% and 12% of their gross monthly revenue in marketing campaigns. However, as mentioned, this is just a suggestion and may change depending on other factors.
Among them, whether the strategies are for online or offline actions, since campaigns in traditional media, such as radio, TV and newspapers, usually have higher values to achieve the expected results. Meanwhile, digital marketing allows smaller investments to reach the objectives.
Furthermore, according to a survey by the companies eMarketer and Forrester Research, which operate in the market research segment in marketing, it is recommended that businesses that are still little known invest 12 to 20% of their gross monthly revenue in online activities.
Well-known and established businesses can invest less, around 6 to 12% of their revenue in digital marketing. However, if the company makes B2B sales, that is, only to other companies, its investment can be lower, around 8%.
Check out 3 important tips for planning your sales strategy
Tips for planning your marketing investment
The first step, and also the most important, is to define short, medium and long-term goals. Once this is done, the definition of the amount to be invested becomes more assertive.
The amount to invest in marketing for companies that have recently opened and are starting their marketing strategies from scratch may be a little more than the suggested percentages. After all, there are additional costs at first.
Examples include creating a logo, developing a website, and creating graphic materials such as business cards, although the variety will depend on your market niche. Next, it is worth having a plan with ongoing actions and how much to invest in marketing that can follow the percentages mentioned. Therefore, when creating a business plan, it is necessary to define the budget allocated to marketing, as well as the objectives and expected results.
In the second step, then, according to specific needs, it is recommended to create an online store and advertise on Google and social networks. Likewise, invest in SEO techniques, as well as in social media management, content marketing and email marketing.
Another point to consider is the need to make larger investments on certain special dates, such as Mother's Day, Valentine's Day, Black Friday, end-of-year parties and other celebrations throughout the year. This strategy, like all others, helps in converting sales.
And of course, how much to invest in marketing is influenced by the profile of the team responsible for carrying out the work. Many businesses hire specialized companies with experienced marketing professionals, who can make the service more efficient and achieve faster results, in addition to being more cost-effective than having a full in-house team.