I recently had a conversation with a potential client and they wanted to market a new startup business. Now this is quite a large organisation with massive potential and a growing market however when I asked them what kind of budget they had in mind each month regarding online marketing, the figure surprised me.

It was less than a cup of coffee a day budget… Followed by the question

What’s a good a budget for Online Advertising?

Now I appreciate not many businesses have a large marketing budget, however that’s the advantage of using online advertising because it can be quite a low cost in comparison to the normal marketing platforms, you can tailor make them to fit a small budget and you can target your specific market very well.

However you do need to have some form of marketing budget and plan to keep in front of your competition and to keep in contact with your potential customers.

Online Marketing Strategy

Online Marketing vs’s Offline Marketing

Newspaper: Local press ads can start from anywhere around $300 – $500 for a one off advert and you have no idea if anyone reads it or if it might rain this weekend and go soggy on the lawn.

Television: To create a simple television campaign the cost of the production of the ad you could easily be looking at around $500 – $1000 for a two week schedule.

Radio: A week or two of schedules you would look at on average of around $500.

Online Marketing: Though there are many different levels you can essentially start from as little as $197.00 a month using Facebook marketing.

Now I am a fan of using offline marketing just as much as online marketing. You need to know how to buy your offline marketing at the right price and know how to integrate your offline marketing with your online marketing strategy and help drive potential clients online where you can start to build a relationship and collect their information through database optins.
online-marketing-strategy

Offline Marketing

Though it can be powerful the problem here it is hard to really market direct to your key potential client, many offline marketing channels still have a more blanket approach. The other problem is that it is very hard to track and measure and build a long-term relationship.

Online Marketing

You can do the following

  1. Create very targeted ads and place them directly in front of your core potential client.
  2. You can track and measure the results from the online advertising.
  3. You can start to build report via a number of no cost or very low cost avenues including social media marketing.
  4. You can change your advertising copy within minutes – optimising continuously until you get it right and start converting even higher.
  5. You can set your daily spend and adjust it to suit your budget and goals instantly and within any time frame you desire.
  6. Once you capture potential customers you don’t need to spend any money re-marketing to them.
  7. All online advertising strategies if done correctly are also going to increase your websites search engine optimisation and increase it’s organic search engine rankings, helping your business reach the top of Google and stay their!

Online or offline, you still need a reasonable marketing budget to get your brand out there and you need to do it consistently.

PS. If you would like to explore the online possibilities for your business we are offering… only the first 5 businesses a free 20 minute 1 on 1 speed strategy session. FREE

Just contact us through our contacts page and we’ll be happy to help out.