How much should I spend on marketing?
What you choose to spend on marketing will depend entirely on your own business and circumstances. Generally, companies spend around 5 percent of their total revenue on marketing just to maintain their current position or around 10 percent to focus on growing the business. Companies in highly competitive fields generally spend more.
Can you guarantee marketing results?
True success is a result of consistently spending time and effort to create, implement, measure, analyse and improve marketing (and sales). There are no real short-cuts and if something sounds too good to be true then it probably is. So, can we guarantee results? No, we can’t guarantee results but we can tell you that what will get results is consistently marketing and improving on an ongoing basis. You can view case studies of our recent marketing campaigns. You can also find marketing statistics online that give some general indication of industry results e.g. according to one source, 2019 email results analysed in the UK, show that 13% to 29% of people are likely to open an email ‘newsletter’ that they have subscribed to.
How long does it take to see results?
This is different for everyone as no two businesses are exactly the same. All projects are different and timescales can vary. Depending on the project, a small scale trial such as a two week Facebook marketing campaign can give you an idea of results to expect should you wish to carry on marketing over a longer time period. Remember though that the time of year is an important factor to consider (e.g. avoid marketing to schools and colleges during exam time as they’re much less likely to respond). It is generally accepted that one of the quickest and cheapest ways for a business to see results is to market to their own existing or lapsed customers i.e. trying to sell more to your existing or lapsed customers is often significantly cheaper and quicker than trying to gain new business from scratch.
How long do businesses have to carry on marketing for?
Probably only for as long as they want to stay in business. Businesses that are lucky enough to be successful through word-of-mouth or referrals are in a good position to perhaps start thinking about marketing and sales strategies to take their business to the next level if they want to grow.
What are the benefits of social media?
Social media sites such as Facebook Twitter, Linkedin, to name a few, have the potential to increase awareness, lead generation and sales conversion for your business. “According to Hubspot, over 90% of marketers in 2019 claimed that social media marketing was important for their business, with 80% indicating their efforts increased traffic to their websites.” Paying for advertising on Facebook or Twitter is relatively cheap and the ability to carry out small trials means that you can test a target audience and get a good indication of results to expect over a longer time period. Managed social media generally has a higher conversion rate than outbound marketing methods such as exhibitions, TV or radio commercials, print advertisements, cold calls, mailing and emailing. A higher number of social media followers and an active presence tends to improve trust and credibility in your brand, representing social proof that your business is legitimate and attentive.
Any other questions?
We’re happy to answer any other questions; click here to ask a question.