Marketing Budget: How Much Should You Spend on Marketing?
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- Опубликовано: 2 июл 2024
- Contact us: www.lyfemarketing.com/digital...
It's smart to invest in marketing, but how do you calculate your marketing budget? Watch our video to learn how to create a marketing budget, how to get a return on investment, & more. A good marketing budget is in your future - all you have to do is start here!
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Our prospects often ask us: "How much should you spend on marketing?"
And that question isn't always easy to answer.
That's why today, we have created a step-by-step video for our prospects and clients on how to calculate a marketing budget.
There's a right way and a wrong way to reach your online marketing budget.
Here's what most people do:
"I have $5,000 in the bank, so I feel good about spending maybe $2,000 on marketing. If I get sales then I can spend more!"
But that approach can easily lead to waste and frustration.
Creating a digital marketing budget isn't just about how much cash you have on hand...
It's about knowing your numbers.
And when you do, then you suddenly feel empowered to make great digital marketing budgeting decisions.
Need a little help? Check out our marketing budget calculator form on our website: www.lyfemarketing.com/calcula...
Also, make sure you subscribe: / @lyfemarketingatlanta
And visit our blog for more great tips and information: www.lyfemarketing.com/blog/
How To Calculate Your Marketing Budget Video Outline
Intro: (0:00)
How to Determine your Average Order Value (AOV)?: (2:00)
How to Determine your Lifetime Value (LTV)?: (2:52)
How to Calculate Customer Acquisition Cost (CAC)?: (3:50)
How to Calculate Your Desired Return on Ad Spend (ROAS)?: (5:52)
How much should you spend on marketing?: (6:12)
Bonus: How to Determine Your Marketing Channels? (9:10)
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➡ We're LYFE Marketing, a full-time digital marketing agency for small businesses. We help people grow online through various marketing channels. We help you de-code if advertising is the right fit for your growth trajectory, or see if organic growth is more of your speed. Regardless, our goal is to build a massive portfolio of success stories. So one day, we can look back and say that we made a difference in the world. This channel will provide you with good tips and suggestions for a large range of marketing topics. And we're not holding back. But if you want a tailored strategy, then don't hesitate to contact us on our website.
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QUESTION: What's the most amount of money you've ever spent on a marketing campaign?
This video is amazing! I've learned so much in 10 minutes. It's very straightforward, extremely helpful. Never liked and subscribed on a YT video this fast. Thanks!
Wow, thank you so much!! We're so glad you've found our channel, and we can't wait for you to see the videos we have coming up :)
Awesome content! This is great for someone like me to see (a new RUclipsr) so I actually subscribed because of this! Thank you. Keep them coming! 🙌🔥🔥
Thanks for your support!! It can be difficult being in a position where you're just starting out (we've been there too!) so we're glad you found this helpful :)
Couldn't have said it any better. Thank you!
Glad you liked it!
You guys have such great content! Thank you for creating these videos!
Thank you so much!! :)
Thanks mate, you helped me a lot with this presentation. You changed me for managing director to marketing guru in 10:24. Greetings from down under, down under (Tasmania). Stay safe!
Thanks for watching and commenting!! Your comment will be praised throughout our company! :)
This video has some awesome tips in it! Very helpful!
I'm so glad!
Very well explained
I learned a lot in this video, thank you!
Very welcome!
This is way too much premium information packed into this free video lol, great work!
Haha thank you so much!
Very insightful and helpful!
Very good!
I've learnt a lot from this video. Thank you so much, bro!
Glad it was helpful! Thanks for watching :)
Definitely tackled a BIG topic in this video! Thanks for sharing, very helpful info for business owners looking into marketing! LYFE SAVER
Glad you enjoyed it!
Thanks for the video… it was very clear and helpful. 🙏👍
Glad to hear that!
This was the most helpful marketing vid I’ve ever watched 🥺🙏
Glad it was helpful!
Excellent Content that allows me to plan a fact based budget, but also challenge the Company's top-down budgeting estimate and constraints
Thank you for watching, we're glad our video helped you!
Dope Video with great information !
Appreciate it!
Great video! Thanks
Glad you liked it!
Hey Sean, thanks for the awesome content! Regarding calculating the max CPC part 4:47 can you please explain how you come up the result with the max CPC $800?
Max CAC (Customer Acquisition Cost), is the max you are willing to pay per customer. So my example was if you make $1000 for each customer (LTV) and wanted 20% profitability that would make your CAC $800
@@LYFEMarketingAtlanta Thanks! The example on the video is 10% profitability. I think that made the difference. So I don’t need to think about the expenses when calculating CAC right?
thanks alot. awesome video.
Glad you liked it!
HOW GOOD IS TOO GOOD I WONDER! YOU ARE THE ANSWER
Thank you so much!
Hello Sean, can you explain 5.52 time stamp where u mentioned roas 1.25 how u calculated that can u explain it please
The formula for ROAS is net income/total assets!
How do you determine an annual marketing budget if you are a new company planning a marketing strategy who hasn't even launched yet? Meaning no sales have been made yet.
We'd recommend you take the Growth Method approach (7:04 mark), meaning a budget that's as close to $1K-$2K a month as you can afford.
What if you are brand new and have not made any sales?
We'd recommend you still have a marketing budget! Did you find this video helpful?
@@LYFEMarketingAtlanta where would you recommend to start?
nice cap