There are some statistics ‘out there’ that say you should spend at least 10% of your forecast annual revenue on marketing if you want to grow your business. So if you want to make $100K in 2019, you should spend at least $10K on marketing. If you want to make $50K you need to spend a minimum of $5K.

Here’s where it gets a little sticky…

• How do you actually break up your marketing budget?
• Let’s say you have a budget of $10K.
• How much should go to digital content creation?
• Should I still do some traditional marketing?
• How much on video?
• How much on advertising for leads?
• How much on having an agency or marketing agency to implement it all or do I need to do it myself?

All of sudden, $10K over a year doesn’t go very far, does it, if you’re investing into all of that.

Some would say that you ‘should’ split your budget equally between all elements.

For example:

For me, what I want to be spending MY marketing dollar on is on the thing that I know will generate a return, and that’s into lead generation.

On a $10K pa budget, I would need to find invest $192/week into generating leads. If my leads cost me $5 each (a pretty standard cost per email & name lead these days in the coaching/consulting/training world. It’s less in product-based industires), I’d generate 38 leads every week, week in and week out.

In my opinion, your marketing breakdown ‘should’ look more like this:

I’d suggest spending 96% of your marketing budget on paid advertising and the remainder of your budget in each on the other categories!

For me, I know, that for every dollar I invest into paid advertising (marketing) on Facebook, I will generate a minimum 5X ROI. So I invest $10K pa and I would generate at least $50K. Some of my clients get a 10X ROI on their advertising spend…

But where does the other revenue come in?

This is where the other things that you’re doing are going to need to support your marketing and sales efforts. From video to Facebook posting, LinkedIn, Instagram, Snapchat, blogging, vlogging, writing articles, podcasting, etc.

If you’re running a shoestring budget, we need to operate efficiently and effectively to get you out there.

It’s a little bit like knowing when to pour the good champagne to guests and when to use the ‘cheaper stuff’. It’s about being cheekily efficient with what you’re doing!

If you’re looking for ways that you can be as efficient and as effective as possible with your digital marketing efforts, then you’re going to love VISIBLE | LIVE in 2019.

And, you get to be super efficient with your budgeting as well, because as a reward for booking in super early, I’m giving you HALF PRICE TICKETS!!!! Yes, Early Early bird tickets are available between now and the end of November, 2018.

Head here to check it out: www.nicolamoras.com.au/visiblelive

Most of all, make sure your money is working for you in the best way humany possible.

Get out there.

Go help some people by getting VISIBLE.

Nicola