The budget must also include the costs related to the start-up and management of advertising campaigns , social media marketing or perhaps influencer marketing.
It should also be sufficient to provide for the purchase of any software that will be used to create, improve or monitor promotional campaigns. These programs may also include solutions for graphic design, social media programming and keyword research.
In some cases, the web marketing mix budget will also have to include the costs for any training of the company team ... Does all this scare you a little?
Don’t worry: if you consider all the benefits that come from a good marketing strategy, all of this will represent a great investment!
Of course, before understanding how to distribute the budget for the marketing mix we must manufacturing email list calculate what the necessary amount will be as well as the amount that can actually be allocated. In this case it will be essential to consider different elements such as:
reference sector,
goals to achieve,
current turnover,
competitive strengths,
actual economic possibilities.
Most companies choose to allocate a certain percentage of revenue to marketing. Some, however, calculate the budget according to the size of the objectives to be achieved, specific conversion goals or customer growth.
Typically, your web marketing mix budget should be around 5-10% of your revenue (ranging from 8-20%). It has been found that new businesses should leverage 10-15% of their revenue to grow significantly in their first few years.
Once the figure has been outlined, the budget for the marketing mix can be distributed. It will be divided according to the objectives and specific marketing strategies and projects that you want to implement.
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Further help in budgeting
Especially at the beginning it could be difficult to calculate the budget, since you do not know well the turnover and all the objectives that you want to achieve. In these situations it is always advisable to realize first of all that allocating a certain amount of money to marketing is important for any business.