Small Business Marketing Budget
The small business marketing budget is key to the online success of a business. The marketing budget includes a responsive website, advertising, and other marketing strategies, and yes, the small business marketing budget can help you plan for it all.
Small business owners spend endless hours managing their company. Planning and executing the strategies they fervently hope will give their business an edge over the competition.
You want a website, but now you wonder if your marketing budget is enough to cover for marketing expenses including a new website. We get so caught up with the daily tasks, ensuring the business is prosperous, that it’s hard to think that a website can significantly affect the company’s profitability.
Small business owners spend endless hours planning and executing strategies they hope will give their business an edge over the competition.
An entrepreneur can get so caught up with ensuring their business is prosperous that it becomes difficult to think a website can play a significant role in the enterprise’s profitability.
Standard advice dictates that all businesses need to spend on advertising. More common counsel stipulates that a small business marketing budget be part of the daily, weekly, or monthly things to do.
With rapidly advancing technology, the internet or online marketing, as it is commonly known, requires a responsive website on all popular mobile devices such as tablets, phones, and other small display screens.
A website is akin to the storefront of your business. It must look friendly and welcoming and must be easy to find. If you hired an interior designer for your brick-and-mortar business, you know that branding is essential according to the expected outcome of the company.
That works like the website; a loud design may not be appropriate for a store selling classic, sophisticated clothing or art. The small business website budget will prioritize a responsive website for all businesses today because today’s shoppers shop through online listings, search engines, or specific directory listings, which grows your online presence. Your business must present a clean, easy-to-follow website designed to invite new customers.
Granted, business owners are working hard to meet their daily quota. There are bills to be paid, and a website is the least of their priorities until they can understand the return on investment.
As a business owner, you must consider the cost of the website. Will the marketing budget be enough? You also wonder if this would be a one-time expense, like a cell phone or something you pay monthly. And you question if you can change it if it no longer serves its purpose at the end of a few months or years.
But a more serious question is, how will you measure success? There are so many questions, and all around the cost of a website. With some planning, consultation, and research, you will find that such an arduous task starts with a simple rule of thumb for businesses: allocate 2% to 10% of total revenue for marketing.
This cost of your website includes the online marketing that will bring your business to the eyes of customers looking for your specific services or products. To get it underway, you might consider applying personal financial strategies, such as allocating a small portion of the revenue every month; in some instances, you will have enough to launch a website, and the monthly allocations can help you cover the costs of maintaining a website.
Every year, the allocations can be increased to allow for more significant features and reach more customers. Still, the simple rule of having an ongoing website budget will prepare you for anything the future may hold. This monthly allocation will ensure your website always runs the latest updates on all integrations necessary for a dynamic site.
The small business marketing budget is then a regular practice used for maintenance, advertising, and new additional features. To tackle online visibility, a careful keyword strategy will deliver search engine optimization (SEO) that helps the business rank at the top of a search results page.
Perhaps you already have saved some money for that purpose. I can help small businesses grow their revenue, and with as little as $2,000, a basic website can be set up; even less, I can get you a simple yet modern and elegant basic website that starts to build a steady online presence. I can work with you on keeping the prices low because I don’t have a lot of overhead. I am also a small, growing business that wants to help other small businesses bridge the gap between brick-and-mortar and online marketing to eventually explore the cloud because that’s where the future is, and I can help you get there. With a decent small business marketing website budget, you can dedicate a percentage of your weekly or monthly revenues toward growing your business.
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Photo by Andrea P. Coan
Sources:
Small Business Administration Blog. How to get the most from your marketing budget.
Rob Starr. (26 Jul 2023). How much do small businesses spend on advertising? Small Business Trends.
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