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How much should you spend on marketing?


As a small business owner you MUST understand marketing and it’s value. It is absolutely crucial to let your target audience know about your business. Many business owners think they don’t have much of a budget to spare for marketing, thinking only big companies do that.

It’s not true. It’s quite simple – anyone with a business needs to spend money and time on marketing or you won’t have a business to market for.

You likely are wondering how much money is involved. It doesn’t have to break you. You can start with $100-200 a month or quarter. The more you invest, the better return you will see. But you need to allocate something to marketing.

So where do you spend the money?


SOCIAL MEDIA

Choose the platform that represents your industry best. But being on Facebook and Instagram is a huge must in my opinion. With Facebook you have complete control over budget and audience. There are many ways to target your specific audience and desired location. You decide the length and budget.Facebook analytics are also great to show you how your ad went.

90% of Facebook users check their account three times a day, so you know someone will see you there!


COMMUNITY PARTICIPATION

Even if your business is online there is a community you can be involved with. Attending in person and online events will boost your status, expertise and networking. From sponsoring a local baseball team to hosting an online only sale for you customers you need to find your tribe. People buy from people. So make sure you are participating in Facebook groups geared to your industry or attending a local Chambers network event.


PRINTED PROMOTIONAL MATERIAL

Business card, rack cards and postcards are still very professional and promising ways to market your business. Every time you meet someone you should be giving them something to walk away with. I’m not sure mailing out thousands is the right move for you business but direct giving of printed material lets you decide if they are a warm lead who will keep you cards.

Also start collecting other businesses cards so you can refer, use or remember the networking moment you just had!

These are just three of the ideas I know work well, and I know how good marketing budget decisions are key to running a successful business, no matter how big or small. If you are unsure how best to utilize your budget, or have had limited success, I can help.


If you need help with your business message me anytime angilapeters@gmail.com

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