2Bobs—with David C. Baker and Blair Enns
How Much Should You Spend on Your Own Marketing?
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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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