Where To Spend Your Marketing Dollars in 2019

If your business isn’t making an impact online, it’s time to reevaluate where and how your marketing dollars are being spent. As a small to mid-sized business owner, your goal is to grow your company. Developing a solid sales and marketing budget is essential to making that happen and helping your business thrive.

It takes money to grow revenue.

You’re a business owner, so that comes as no surprise. It takes money to make money, but how much? When it comes to your marketing budget that depends on a few factors:

• Last year’s gross revenue
• This year’s projected or desired sales
• Reaching your target audience
• Getting them into your sales funnel

Begin by analyzing your gross revenue from last year. Take 10 percent of that figure and set it aside for this year’s marketing budget. Next, set aside 20 percent for your sales budget. While 30 percent total may seem like a lot to a small business or a startup, in today’s digital space those two budgets are meant to collide and be utilized as a powerful lead generation tool. Remember, you’re trying to get people into your sales funnel, so no matter what your number amounts to — whether it’s $10,000 or $100,000 — your business can grow exponentially based on how you use your sales and marketing budget.

Harnessing the power of your sales and marketing budget.

The U.S. Small Business Administration recommends allocating at least 50 percent of your marketing budget to digital marketing efforts. Why? Getting people into your sales funnel is all about making connections and building relationships. That’s where digital marketing shines.

How you spend your marketing dollars depends on your target audience and your industry. While there are over 2 billion active Facebook users, don’t rule out other social media channels to optimize your messaging and find your customers. Instagram, YouTube, LinkedIn, Twitter, Pinterest, even SnapChat and TikTok can be viable spaces for reaching the right people. Whether it’s engagement on the correct social media channels, sharing valuable content that speaks to your customers’ pain points, connecting with them through email marketing, or promoting your products and services through paid advertising, a well-executed digital marketing strategy helps your company stand out from the crowd and create a brand that everyone wants to know and love. 

At the core, Brehm Media began to help small to mid-sized businesses be even more successful than they thought they could be, whether that’s through digital marketing or creating an overall marketing strategy. If you need help finding your target audience and determining the best way to allocate your marketing dollars, we’re happy to help! Contact us for a free marketing planning session.