2Bobs—with David C. Baker and Blair Enns cover image

2Bobs—with David C. Baker and Blair Enns

How Much Should You Spend on Your Own Marketing?

Oct 25, 2023
The podcast discusses budget allocation for marketing efforts, including website development, search engine marketing, and email automation. It explores the pros and cons of hiring a PR firm and highlights the value of content creation. The use of chat GPT and social media spending are also discussed, with an emphasis on LinkedIn. The importance of personalized marketing strategies, setting aside a monthly budget, and the debate around reasonable marketing budgets for small firms are explored.
29:44

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Quick takeaways

  • It is advisable to budget around $1,000 per month for website-related costs and $3,000 per month for search engine marketing and optimization, while allocating $400 to $800 per month for email marketing and automation platforms.
  • Instead of fixating on metrics like website visitors or form conversions, focus on developing a lead generation ladder and spending around 4% of total time and resources on marketing activities to achieve desired results.

Deep dives

Allocating Budget for Marketing Expenses

When it comes to marketing expenses, it's important to spend as little as possible while still achieving desired results. This typically includes budgeting around $1,000 per month for website-related costs, considering a budget of $3,000 per month for search engine marketing and optimization, and allocating $400 to $800 per month for email marketing and automation platforms. Additionally, spending on social media platforms like LinkedIn can be valuable, but alternatives like Twitter or TikTok may not be necessary. Hiring a PR firm for self-promotion is generally not recommended, as organic exposure tends to have a greater impact. Lastly, it's advised to set aside a flexible budget of around $1,000 per month for miscellaneous marketing activities tailored to a firm's specialization and the individual's personality and goals.

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