Each and every company out there will need some sort of marketing. Without marketing, you have no way to persuade people to buy your items or use your service. If you are a tree care company for example; a marketing budget will get the word out that your business is reliable.
Many small business owners do not have a marketing budget, and they look at it as an expense instead of an investment. Digital marketing could potentially make or break your business. More than half of the population searches for businesses online. Therefore, if you are not marketing your company on the web, you are missing out on a large customer base.
A lot of small business owners also assume that you need to have a large budget to maintain a marketing campaign. While the more you invest the more you will get back, you can still have a successful marketing campaign for small sums of money.
Below, we are going to go over why digital marketing is an investment and a smart choice for your long term ROI. We will also go over how to set a smart marketing budget so you can feel comfortable with how much is being spent.
Why Digital Marketing Is An Investment
When you look at your long term ROI, you make certain investments in your company. You may purchase special equipment or go through certain training. Putting money into these things is going to give you a return on your investment, right?
Digital marketing is the same thing. For example; if you were to spend $10 a day on marketing, so next week you would get back $50 a day; you would do so, right? Marketing is just that. Digital marketing, done in the right way, is going to put your company’s information in front of many people that otherwise would not have seen it.
In another example, when you use AdWords PPC marketing campaign, you are paying every time someone clicks on your website. So, let’s say you paid $1 for every click, and once a week you have a lead conversation that gives you $500; that is a great ROI.
Long Term ROI
Depending on the marketing avenue you choose, it can take some trial and error before you see results. However, the more you work at it, and the more you understand how to reach your target audience, the better conversions you will have.
Though it can be true that you may not see the results you want right away, everything that great is worth waiting for!
Setting Up A Marketing Budget
Many business owners do realize the importance of a marketing campaign and budget, but they are not sure how to go about setting it up. They might also be unsure how much of a budget they should devote to digital marketing. Below, we have outlined what you need to consider when developing your marketing budget.
- Know Your Sales Funnel- The first step is to know where your customers are. Checking things like how many customers regularly go to your site, and how many lead conversions you generate is key.
- Consider Your Overhead- Most business owners have an idea of how much their overhead costs are on any given day. From employee wages to insurance, to equipment, and anything else your company requires.
- Determine Your Company’s Goals- How you want to set your budget is by having an understanding of what you want out of your business? Is this a family business that is going to stay small, or are you hoping to branch out and become a large corporation? For reference, the US Small Business Administration recommends that anyone making less than 5 million per year should allocate 7 to 8% of their income to marketing.
- Know Your Market- Another factor to consider is your market. If you have a tree care company, you will want to reduce your marketing budget around the winter holidays, but increase the budget prior to Spring.
- Look At It As An Investment- Finally, as we have mentioned, consider your.digital marketing budget an investment. When looking at it from that point of view, you will better be able to predict your long term ROI; especially when your marketing efforts start to pay off.
We Have Answers!
Though many people decide to hop right into digital marketing with both feet, they often become discouraged and confused; especially when their efforts do not pay off right away. Getting help with digital marketing for your tree care company is also an investment that you will be glad you made!
Tree Service Marketer is experienced and committed to helping small business market their company’s and stay ahead of the crowd. Call us today for a consultation!
My name is Mike Gurung, Founder and CEO of a tree care marketing agency and author of the book “Power of Web Marketing”. Our team is passionate about helping tree service business increase their sales & grow their revenues by more effectively marketing online via SEO, Google Maps Optimization, Social Media, eMail Marketing, Paid Search and other Online Marketing channels.