Every Business Owner’s Dilemma: Online Marketing and Advertising Budget

decide how much your online marketing budget should be, first of all you need to know how much should your total marketing budget be. Ideally, marketing budgets should be set at 2%-10% of revenue. To make the best choice, you need to concentrate on the profitability of your business. Then you can start deciding where to spend the money according to your budget. Consider the revenue generated online versus offline and check for growth possibilities.

Consider these scenarios…

• No online business: If no business is generated online then it is unlikely that any of the marketing budgets would be spent. The start up cost while going online will be a lot more as it includes getting an online store, branding campaigns, and other designing costs.

• About 20% or less online: You need to decide how much it would cost you to gain more offline sales versus online sales. You need to go online and the rank in the Google should be maintained after calculating the revenue.

• 100% online: Most of your budget will be spent online. You need to know what your cost per conversion is for each of your online marketing efforts and you need to have a sharp pencil on your profitability. Your cost per conversion will be different for all of your online marketing efforts. Adwords conversions may cost more or less than email marketing conversions. Since most of your business is online already, you have to understand these numbers to make the best possible choices and always keep yourself updated to get maximum profit.

• Strategy: Your strategy will be restricted by your marketing budget, so you must plan accordingly. Many entrepreneurs start with a bit of money, progressively improving the price range to the biggest, still need to stay in comfort zone.

• Budget: An Online marketing price range can be endless, and you may never achieve your whole consumer platform. Keep with what you can manage, and work within your budget’s limits.

• Competitor Analysis: Discover your opponents marketing strategy and learn about the direct competition in your market by doing initial analysis on web. You will understand that some companies are more aggressive than others. And prospective clients who are searching for products or services provided by your company will usually choose highly ranked websites.

• Goal: Finally, recognize the consumer base you want to focus on, and promote in places where they visit often. This could be forums, communities, groups on social media sites etc. Various social media sites and other website do provide you platform to advertise your message your goal or service to your targeted customers within your region or global. So you can think over such aspects in your online marketing budget.

If you still have any confusion just ask industry's one of the leading ecommerce marketing company to get rid of such dilemma. Get an instant quote from sales team that will help you to run your successful internet marketing campaign.