• Marketing analysis

Average Marketing Costs for Small Businesses

The mar­ket­ing bud­get for small busi­ness­es is a seri­ous con­sid­er­a­tion as busi­ness own­ers head off toward new endeav­ors. Mar­ket­ing arms branch wide and far, mean­ing their reach is incred­i­ble, but so is their invest­ment.

But exact­ly how much is that invest­ment? It’s a great ques­tion, and the aver­age mar­ket­ing cost for small busi­ness varies per com­pa­ny and busi­ness goals. Typ­i­cal­ly, mar­ket­ing bud­gets are aver­ag­ing between 4 and 12 per­cent of total com­pa­ny rev­enue.

However, smaller companies are likely to spend a higher percentage of total revenue and new businesses are likely to make more substantial initial investments.

business woman uses a calculator to calculate the company's performance figures, graphs the monthly graphs for the meeting.As small busi­ness­es plot their mar­ket­ing bud­gets, it is impor­tant to con­sid­er the resources that are cur­rent­ly avail­able, includ­ing dis­pos­able income, con­sis­tent sales and pro­ject­ed sales. Own­ers must con­sid­er which media are the most advan­ta­geous to their con­sumers and brand and research the most effec­tive modes of com­mu­ni­ca­tion that will serve as pil­lars in their strat­e­gy.

Focus on Digital Marketing

Tra­di­tion­al mar­ket­ing invest­ment con­tin­ues to decrease (this isn’t the same as becom­ing obso­lete), and dig­i­tal mar­ket­ing spend­ing increas­es each year. Dig­i­tal mar­ket­ing is arguably one of the most pil­lars of new busi­ness devel­op­ment which is why today, dig­i­tal mar­ket­ing spend should be hov­er­ing at about 35 per­cent of all mar­ket­ing dol­lars invest­ed.

The trend toward dig­i­tal mar­ket­ing has con­tin­ued to steadi­ly increase because after the ini­tial dig­i­tal mar­ket­ing invest­ment, ROI is sig­nif­i­cant. Dig­i­tal mar­ket­ing invest­ments include a web­site, SEO, email, social media and more.

If you are ready to ramp up your small busi­ness, reach out to our team at Rosy Strate­gies. We will walk you through the mar­ket­ing basics, the aver­age adver­tis­ing costs for small busi­ness and an appro­pri­ate strat­e­gy to help you ful­fill your busi­ness goals and needs.

By | 2018-04-20T12:22:08+00:00 April 20th, 2018|Digital Marketing, Marketing Strategies, Small Businesses|Comments Off on Average Marketing Costs for Small Businesses