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Splitting a marketing budget

by JakeM1
5 replies
I'm launching a local service soon, but due to cash flow constraints, will be starting to market purely through the use of offline marketing and social media.

The early money I make however, I would like to invest into adverts.

I'm going to be using the following social media: Google Plus, Facebook, Youtube, Twitter, LinkedIn, DeviantArt.

Assuming I have a set amount of money in which to invest, how is best to split this up and why?

1) Do I evenly split my investment between different options (Google Ads, Facebook, Twitter etc)?

2) Do I run all the different ads at the same time (Facebook, Twitter etc.)?

3) Do I go for a low daily budget but stretch my investment over a longer time frame, or do I have a higher spend, but over a shorter number of weeks?

4) Is there a minimum amount of time I should consider running adverts for?

It would be great to hear your thoughts on this
#budget #marketing #splitting
  • Profile picture of the author dburk
    Hi JakeM1,

    Pick one, and focus all of your attention and resources on that single marketing channel. Once you have that campaign maxed out, generating profits, you can then begin diversifying, using the income from the first campaign to launch the next campaign and so on... Don't stretch yourself too thin in the beginning, a concentrated effort is more likely to pay off in the short run.

    I recommend that you start with Google search ads, as you can gain a lot of useful data very quickly. Bear in mind that there is a fairly steep learning curve if you are new to competitive SEM. Spend time learning how to master the channel before moving on to the next. Use the insights gained from your SEM campaigns to guide you on the next.
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    * Get Results - Outsource Your PPC Management |
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  • Profile picture of the author JakeM1
    Thanks, that's really helpful knowing to focus on one advertising channel.

    I'm guessing that means I should probably aim for a lower daily budget and to aim for more days/weeks of adverts instead so as I can keep tweaking things and monitoring the results?

    Although it seems very involved, is there a quick start guide anywhere to get me going with some successful adverts?
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    • Profile picture of the author dburk
      Hi JakeM1,

      The very best training material I have ever seen is provided for free by Google AdWords:

      https://support.google.com/adwords/?hl=en#topic=3119071

      Keep in mind that advertising is just one part of marketing and you can't expect to be a marketing expert after reading a quick start guide.

      To use an analogy, think of marketing as Kung Fu, you can read a quick start guide about Kung Fu, but it will still take years of devoted practice to be considered a master of Kung Fu. Marketing is kinda the same long grueling process, years of intense practice is needed to master the skills of marketing.

      Just as the basics of martial arts can be learned in a couple months, you can likewise learn the basics of marketing within a coupe months time and if you keep at it for a couple years you can eventually reach "black belt" status, and continue for a couple more years and you can reach Master level. The sooner you start, the sooner you will get there.

      If you are looking for a shortcut, hire an experienced professional. With the right expert, in-sourced or outsourced, you can put yourself instantly on par with your top competitors for marketing strategy and tactics.
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      * Get Results - Outsource Your PPC Management |
      *       Don Burk Advertising & Marketing - www.donburk.com

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  • Profile picture of the author DeboraSa
    You really should have a goal to focus and master any one of those networks to be honest, or you would be just simply stretching yourself way too thin.

    My personal favorite would be mastering facebook as instantly after that you would be able to offer plethora of services!

    Good luck!
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  • Profile picture of the author Greedy
    If it is a local I would consider Google Adwords... but really depends on what type of business it is Facebook maybe better. Do you mind sharing a bit more info about the business?
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