Business Growth Blog

Marketing Spend

How Much Do Small Businesses Spend On Marketing?

You want to grow your business. You know you need to do more marketing to expand your reach and attract more customers. You also know that good marketing isn't cheap. It's scary because you're thinking of increasing expenses, but you don't have a clear vision of what you'll get in return.

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2 Ways Small Businesses Can Reduce Inbound Marketing Costs

Inbound marketing can get costly. So how can you afford it, especially if you’re a small business? Here are 2 ways to reduce your inbound marketing costs:

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Hiring a Marketing Person vs. Outsourcing to a Marketing Agency

Marketing and sales are becoming increasingly complex.

In the early stages of business growth, most companies have a limited number of employees, and the owner is driving the majority of sales and marketing. When a company is ready to take off, it needs to expand its reach significantly. That requires a stronger investment in sales and marketing strategies.

Many decisions need to be made about the most effective way to get new business: use traditional approaches like cold calling, direct mail, T.V., and billboards, or more digital-type approaches like website development, blogging, email marketing, and social media?

The owner, who is fulfilling many of the key functions of the business, usually needs expert help to develop and execute the right strategy. The next decision is whether to hire internally or outsource to a marketing company.

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How Much Does Inbound Marketing Cost?

A zillion dollars! Just kidding.

As you can imagine, it's not possible for me to tell you exactly how much it will cost you to do inbound marketing. There are too many variables involved, such as:

  • Your available internal resources
  • Experience level of the people you hire
  • How advanced you are with your current marketing strategy
  • Your goals and objectives

But I'm going to see if I can give you some general idea about what to expect.

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Avoid Marketing Cost Sticker Shock

I’m going to lay it to you straight: good marketing ain’t cheap, and cheap marketing ain’t good.

No matter how you slice it or dice it, you need one person to drive the marketing strategy and direct the campaigns.

That person, whether it’s an internal hire or someone at a marketing agency, is going to have to work with others to do an effective job. They’ll need graphic design, programming, social media, email marketing, and writing skills just to name a few.

Get Ready, Here it Comes...

I’m going to throw some numbers out there to help you start understanding the level of investment you need to make in order to get results.

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Inbound Marketing Budget Examples for Small Businesses

If you've never done inbound marketing before, or have only dabbled, you're probably foggy about how much this all costs. What does an inbound marketing program look like?

Every company is different, so in order to get a true picture for your business you should talk to an inbound marketing consultant to help you create a plan that is reasonable for you. The examples I give below are very general just to give you a snap shot of what a plan might look like.

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