When it comes to growing your small business, adding new clients consistently is a top priority. But how much should you spend to attract these age of your business new clients and increase sales?
How much should you spend on advertising and marketing?
The U.S. Small Business south africa phone number data Administration (SBA) has suggested that “small businesses with revenues less than $5 million should allocate 7-8 percent of their revenues to marketing.”
Using the SBA percentage, if your net profit age of your business is $500,000, you should spend $40,000 on advertising and marketing.
First Year Business – 25-35%
The first year will be the most chile cell number list challenging, so you need more marketing capital to get noticed. Think of marketing as an investment in your business.
Established and Growing Business – 12-18%
After 2-10 years, your name is out there, and your business is growing. Take advantage of the momentum and more of the market.
Well Established Business – 3-5%
After 10+ years, you have a well-established colombia business directory name and reputation. Now is the time to keep up-and-coming businesses from closing in on you.
What channels should you focus on?
When it comes to advertising and marketing, there are many channels you can choose from. So, which channels should you focus on? Ultimately, your marketing budget should go to the channels that help you reach your goals. What do you age of your business want to achieve this year? Revenue growth? Brand recognition? Growth of your email list?
Here are the most popular digital marketing channels to help small businesses reach those goals:
Website – This includes the initial website design and development, updates, and maintenance.
Read More: 10 Signs Your Business Needs a Website Redesign
Blogging – Blogs help you build trust with potential clients and provide an extra level of customer service for existing clients. Generating new content is also essential for SEO and social media.
PPC Ads – This digital marketing tool allows you to show your ads on search engine results pages (SERPs). You pay the search engine’s owner (Google, Bing, etc.) for the service and each ad click.
Social Media – When it comes to promoting your business, paid advertising on social media can have a significant impact. It allows local businesses to compete with larger companies and encourages a positive connection with your clients.