how much should I spend on marketing?
It's a tricky question. The important thing for new companies is testing marketing vehicles to see which performs and provides the best return on investment. Mature companies or businesses that have been in business for a considerable amount of time know which vehicles work for them; if they don't they are in trouble.
I typically recommend that companies invest 20% of their resources into marketing. This is 20% of your budget as well as your time. You continually reinvest 20% into marketing on an ongoing basis. As time goes on you may be able to decrease your time spent in marketing, but in return monetary resources may need to increase. The key is to find the vehicles that work best for your target market. Is it Internet, newspaper, audio commercials, or television commercials.
You will find that some people suggest as your business grows to decrease your amount in marketing. I firmly disagree with this tactic. You should always be marketing to new potential customers as well as marketing to the repeat consumer.
Review your marketing mix. There's no such thing as one specific activity but rather a cross-section of marketing strategies will bring the success you need. It's the small things that add up when put together. Determine what marketing works by asking your customers and disregard any marketing vehicles that are not working for you and reinvest in those that do.
Eric Halloran
Owner/Principal Designer
eric@erhdesign.com
Mail to:
28779 North Harrison
Wauconda, IL 60084
815.814.1366
Northwest Suburbs
marketing plans
email marketing
Whether you're looking to send an email newsletter, a high-impact email promotion, an email event invitation, an online survey, or build your email list, discover how edesign can help you get it done.
Email marketing, when used properly, is one of the most cost-effective tools you can use to communicate with your customers, clients, or membership groups. Whether you sell products or services, email is a fast, efficient and inexpensive way to keep in contact with your customers and prospects, make sales, get traffic to your web site and boost your profitability.
Marketing Methods
There are different methods when it comes to marketing. This includes direct marketing, relationship marketing, advertising, public relations, and positioning. Use these resources to find out which method will work best for you.
Many ways, many outcomes.
- Advertising
- Public Relations
- Direct Marketing
- Relationship Marketing
- Guerrilla Marketing
- Viral Marketing
- Positioning
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ream it, we can build it. Your specific needs will differ by industry and customer base. We will find the best server technology and format to fit your product and your message.
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