How Much Should You Spend on Marketing - 6 Tips

[@envieuxphotography9855]

Wow. A LOT of great and USEFUL tips here. Thank you so much! Hard to know where to start out the gate!

[@Marketing360]

You're welcome, Kim!

[@sunwisecapital]

Love the bug crawling up the wall behind you. Good effect - I thought it was on my screen - LOL

[@Marketing360]

Look at that little guy go!

[@jimmydeese7583]

Should invest in pest control .......

[@mansikala271]

Hello, great stuff! One thing I'd like to ask is when we talk about $150 or $1000, do we talk total? I mean should you split that $1000 into 4 5 posts and ads or all of the budget should be spent on one post only ? For e commerce, say shoes, Would you spend all $1000 on one adv ? or Would you rather have 4 different adv of $250 each? Basically I got an idea of total budget PCM but not sure about total budget of one post ?

[@Marketing360]

Great question! We usually don't recommend putting all your budget towards a single ad unless you're sure that ad is the best performing ad. A/B testing in the beginning of a campaign is incredibly important.

[@Raeshaun_Music]

Does no one else see the Spider at 7:16 ?

[@Marketing360]

SPIDER?!!?! WHERE?!?

[@hustle717]

Ive been that low budget advertising guy and I can agree it was all a waste of $$$. Good tips...

[@Writtenmirror]

This is very useful information thank you!

[@Marketing360]

You're very welcome!

[@BauerBeauty]

But what if ur investing 150$ month and only getting profit of $30 then how can u be comfortable w scaling that ?

[@Marketing360]

Great question! Often times scaling is actually the answer. For instance, if every time you spend $150 you that back PLUS $30 that may not feel like a lot but it's still profit. So next month you spend $180 and you get back $216, over and over until you reach a tipping point. Maybe you sell 10 widgets a month but once you start selling 20 widgets you get a 10% discount on your costs. Now your profit goes up! Or your marketing budget increases and finally allows you to keep the ads on all day instead of running out of funds early - now you have more opportunity for conversions and your Quality Score may increase thereby reducing your costs. It's not _always_ the answer, but taking the risk can pay off!

[@vv2262]

Eye Opener 🎉🎉🎉🎉

[@Marketing360]

Woohoo!

[@simonsez1787]

Hello, good insights. I was thinking to use Fiverr for marketing and some services go for 200, 300, and 500 per month. But what you said gave me pause. If these are the cheap, no-ROI guys, who would I go to for that higher dollar marketing? I like that Fiverr centralizes services. Is there a premium work-for-hire platform where you can find and hire a team, pay more, and get more results? Basically, I don’t wanna do random Google searches. Thank you.

[@nickleejackson09]

Massive Action!!

[@JohnSmith-ph3rp]

What if you only have $100 a month to invest what would you do?

[@Marketing360]

Before you spend a dime you need to make sure all of your foundational pieces are set. Can you take payments? Is your website fully and completely functional? Do you have a CRM set up and is it connected with your nurture campaigns (email automation)? If you have a physical location are your listings set up correctly? Are your review platforms built and monitored? How about your social platforms? Do you have or are you creating consistent content to help build organic growth? Only after ALL of that is created and established should you start spending money on ads (on any channel). Especially if you have a small budget you need to ensure you have every opportunity for it to succeed. Build the foundation before spending money.

[@JohnSmith-ph3rp]

@@Marketing360 what is a crm?

[@thisurajayasoma1156]

1. Link is not working. 2. Harvard business school says to spend 7-15% of your revenue and/or goal revenue. Can you give a source for this please?

[@Marketing360]

Hi, Thisura! HBR has most of it's studies behind a paywall, but a quick Google search will show lots of additional results from CMO Survey, the SBA, and others. Here's another great resource! www.webstrategiesinc.com/blog/how-much-budget-for-online-marketing-in-2014

[@stevevallance6326]

Thanks everyone, and a special thanks to Jordan who I am trusting to help me out.

[@Marketing360]

Jordan is a great guy!

[@takilove3566]

im from the uk i cant seen to sign up

[@Marketing360]

Hi, Taki! Currently due to some policies put in place due to GDPR we are currently unable to accept customers from the UK. We're working hard to open up our services to GDPR affected regions soon. Thanks!

[@Chaneltravel]

Hello. Can you tell me how you advertised your shop to get orders? I spend 1000€ in month for Adv inst/facebook (i just started) and i have nothing, no orders

[@vv2262]

Super super.. I am targeting 50% to 100% ROI for my ads ☺ sure, I will make it.. This video helped in clearing my mind of ad investment. Thank you

[@Marketing360]

Most welcome 😊

[@joziejewelz]

Thank you, this is all so helpful!

[@Marketing360]

You're very welcome!

[@Stovetopcookie]

Thanks for this video. I used to think that marketing was a waste of money because there was no guaranteed return but if all the successful companies are doing that then I must put aside my own believes and follow what has been done before successfully thanks for helping me change my mindset

[@Marketing360]

Hey Ernest! Love this comment. You're right - there are no guarantees in marketing. That said, there are honestly no guarantees in business! What we do know is that marketing has a clear and measurable impact on the success of a company. Much like investing; it might be difficult to get right and on occasion you might see a dip but if you keep at it you'll succeed!

[@maryleez1510]

Very helpful. Thank you!

[@Marketing360]

You're welcome!

[@oraclegps]

Perfect brother i would split this great video in 6 smalls ones because each of them is gold

[@Marketing360]

Great idea!

[@therocelectric]

Awesome

[@Marketing360]

Thanks, Fernando! Which tip stood out to you the most?

[@adscantwo]

You Got That Right!

[@Marketing360]

Thanks!

[@gingertomm__]

tip 6 i believe is inaccurate, if you dont haqve £1500 to spend then surely starting with £150 and targeting that to a small group / small area is better than nothing? You can enlighten me on this if you wish

[@Marketing360]

Great question! The answer, like most thing in business, is "it depends". If you're in a small local area with limited competition and a niche product than you may be able to generate results with a micro-budget. However, because most advertising platforms rely on machine learning to generate the best results if a budget is too small you'll never be able to take full advantage of the intelligence available to you.

[@toyinbello9636]

Hi there..may I interview you for my website?

[@Marketing360]

Hi, Toyin! We love speaking with fellow entrepreneurs. What is your website about?

[@toyinbello9636]

@@Marketing360 its about building wealth and personal development Toyinsbello.com

[@sanket558]

sir, i have a small company. i wanted to post instagram and facebook ads, but i dnt have my official website yet. which advertising objective should we use??? It would be a great help if you could suggest the best way!

[@Marketing360]

That will depend heavily on your goals. On Instagram you can send people back to your profile, promote your phone number, or your local business address in lieu of sending them to a website. For Facebook, you can generate lead ads, Page Likes, etc. You'll want to get your website up and running soon so you can run Retargeting ads as well! We're happy to help. Good luck out there!

[@mr.brightsideexteriorclean2163]

This is good thank you

[@Marketing360]

You're welcome!

[@alteredcombat9308]

Around the 7 minute mark you speak about $150 being a waste. While I can understand that from your point of view it may be wasteful, but if $150 is all that a startup can afford and it is producing results it isn't a waste.

[@Marketing360]

The true measure of whether or not it's a wasted investment is if it's producing results. If results can be produced with $150, awesome! However, many businesses don't invest what they need to in order to see the right results and so that $150 could be better utilized elsewhere.

[@tomchristen9285]

Solid tips, thanks!

[@Marketing360]

Thank you!

[@CarlKinneybigseaone]

A lot of good tips, if an individual does have the money to invest, where does he/she even begin to start with a campaign or marketing group that puts everyone on the same page rooting for that brand? I have heard of masterminds, etc. and still people are left in the fray of those who are informed, have more money and talent with selling products and services. I mean where does this person find this house of tools to build themselves and their cause?

[@Marketing360]

Hey, Carl! We get this question all the time and the truth is that marketing is "pay to play". It doesn't mean that you need to spend thousands of dollars to compete with the biggest guy in your market, but it does mean you need to be more creative and more specific about your marketing. There's no "equal footing" in the world of marketing - but everyone has access to the same tools. It's all in how they use them. Mastermind marketing courses are there to take your money. Put it in to marketing instead. Marketing groups are generally a waste of time (link for link, like for like). Spend your energy on developing your business instead. It's often harder to become an accidental success than if you spend your time and energy building your business from the ground up.

[@fabiGBOtown]

Funny, in my analytical mind, the video was shot wrong. Unconsciously, you standing on the left and the words to your right converts > the opposite. Try that for more likes on your next video. Ive Been in marketing too long 😔