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.
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Outsource Your Website
- Hire an outside firm to build your website instead of doing it yourself.
- Budget roughly $1,000/month (amortized $20–40k every 3–4 years) for a professional site.
Invest In SEM/SEO Management
- Allocate budget for SEM and SEO management to reach an addressable audience.
- Expect about $3,000/month to cover ad spend and management, focused on LinkedIn and targeted buys.
Pick Your Marketing Tech Carefully
- Choose your email or marketing automation stack deliberately and stick with it.
- Budget roughly $400/month for email or $800/month for a full automation platform like HubSpot.