• Facebook
  • Instagram
  • LinkedIn
  • Twitter
  • Youtube
  • Pinterest
Digital Storyteller
  • Services
  • Pricing
  • Our Team
  • Resources
    • Blog
    • Marketing Calculator
  • Contact
  • The ROI of Organic Digital Marketing
  • Menu Menu
Digital Marketing, Financial Services Companies, News

Your Digital Marketing Budget: Cha-ching!

Marketing Budget

How Much Should You Allocate?

What if we told you that you can have your cake and eat it, too? Well, today’s your lucky day—because you can! While the world might tell you that you need to pay an arm and a leg for good marketing, at Digital Storyteller we say no thanks! Here’s how much you should really allocate to your digital marketing budget.

The Average Marketing Budget 

At this point, you might be asking yourself, “What’s considered a ‘good’ marketing budget?” or “What percentage of my profits should I allocate to marketing?”

According to the U.S. Small Business Administration (SBA), “small businesses with revenues less than $5 million should allocate 7-8 percent of their revenues to marketing.”

However, there is no one size fits all approach when it comes to digital marketing budgets. Allocation depends on several factors according to the SBA:

  • The industry you’re in
  • Business size
  • Growth stage
  • Profit margins

Most importantly, however, your marketing budget should never be an afterthought, “based on just what’s left over once all your other business expenses are covered.”

Setting Your Marketing Budget

Crafting your marketing budget no longer requires the guesswork it used to. Here are six steps you can take, thanks to OutboundEngine, to set a successful marketing budget for your small business.

  • Step One: Identify where you are in your business journey
  • Step Two: Outline your sales funnel
  • Step Three: List operational costs

(Psst! At this point, you should know how much money is coming in and how much money is being expensed, which is a huge help).

  • Step Four: Set goals
  • Step Five: Identify competition in your industry
  • Step Six: Craft your marketing plan using all your research!

Something to remember: Don’t cling to your plan year-round! It will (hopefully!) change annually and could also be susceptible to change if something shifts in the market or if you launch a new product or service!

You’re Wasting Money on Facebook Ads…

At Digital Storyteller, we will not deny that having a marketing budget is important. It is, of course! But frankly, we’re just seeing too many companies spend ridiculous amounts of money on paid advertising, like Facebook ads.

In fact, did you know that companies spend an average of $200 to $800 on Facebook ads per month? An enterprise, however, may invest up to $5,000 per month on Facebook ads… Holy moly is all we can say!

And this is just on Facebook ads alone. One singular platform. For many companies, if not all, Facebook ads alone cannot carry your business and the success of your digital marketing strategy. (Sorry not sorry, Zuckerberg!)

For companies to succeed, it’s typical to expect both a blend of paid and organic initiatives in the marketing melting pot.

The Affordability of Outsourced Marketing

At Digital Storyteller, we believe that fragmented marketing wastes money and time and reduces impact. We also believe that you should be able to have your cake and eat it, too. Hell, you can go on vacation and still afford quality, effective marketing! 

(We should know since we market for ourselves the way we would any other client AND *cough cough* our owners just spent two weeks at the five-star Chileno Bay Resort in Cabo San Lucas—woot woot!)

At Digital Storyteller, we strive to be transparent, and we don’t think pricing should be a secret. This is why all of our pricing is broken down in full on our website for you to see.

For those in a pinch, here’s what we offer:

Our STARTER tier, priced at $3,000 a month, is perfect for the small business owner who needs marketing support to maintain or build an online presence.

Our most popular package, titled GROWTH, is priced at $5,000 a month and includes content creation, a social media strategy to align online presence with your current business identity, as well as sales enablement workflow assistance.

Lastly, our ENTERPRISE tier is for companies whose growth has outpaced their marketing. We are your outsourced marketing department focused on building your business with you. The enterprise package is priced at $8,000 a month.

We also offer a ​​stand-alone website design product starting at $8,500.

From SEO analysis to organic content creation, from sales enablement workflow creation in Hubspot to online reputation management and social media, we do it all at a fraction of the cost that hiring marketing in-house would be.If you couldn’t already tell, organic content marketing saves you money. In fact, content marketing is 62% less expensive than paid marketing and three times more effective. So, what are you waiting for!? For more on why digital marketing is important for your financial services company, read on.

October 10, 2021/by Amanda Rogers
Tags: average marketing budget, budget, content creation, Content marketing, digital marketing, facebook ads, marketing budget, Organic marketing
Share this entry
  • Share on Facebook
  • Share on Twitter
  • Share on LinkedIn
  • Share on Reddit
  • Share by Mail
https://digitalstoryteller.io/wp-content/uploads/2021/10/Untitled-design.png 628 1200 Amanda Rogers https://digitalstoryteller.io/wp-content/uploads/2022/06/Digital-Storyteller_Logo_RGB_Signature_Full-Color-300x300.png Amanda Rogers2021-10-10 07:00:002021-12-10 10:00:13Your Digital Marketing Budget: Cha-ching!
You might also like
Outsourced Marketing What to Expect Working with an Outsourced Digital Marketing Agency
PR vs Backlinking Strategies: What's the Difference? PR vs Backlinking Strategies: What’s the Difference?
business Big Four Big Snore- How to Move Through the Ranks Faster
tracking marketing kpis Your Guide to Marketing KPIs
Woman conducting a work meeting How Do We Help Our Clients Shorten Sales Cycles?
man using a phone How to Ask for Client Testimonials
SEO and Content Marketing How to Effectively Combine SEO and Content Marketing
Organic search Small Business Marketing Ideas That Can Make a Difference Today!

SEARCH

CATEGORIES

LATEST POSTS

  • sign pointing one way to b2b marketing and the other way to b2c marketingB2B vs. B2C Marketing: What’s the Difference?November 13, 2022 - 7:00 pm
  • black and white question marksWhy Do We Call Our Company “Digital Storyteller?”October 30, 2022 - 7:00 pm
  • desktop and laptop on desk used for website auditsThe Importance of Website AuditsOctober 9, 2022 - 7:00 am

Follow us

RESOURCES

Blog
Privacy Policy

GET IN TOUCH

2710 Lone Jack Rd
Encinitas, CA 92024

858.945.1069
info@digitalstoryteller.io

STAY CONNECTED

Follow a manual added link

© Digital Storyteller 2020

Get The Secret Sauce

Delivered right to your inbox (napkins optional)



© Digital Storyteller 2020

The Eight Best Marketing Agencies in San DiegoMarketing AgenciesSEO SEMSEO vs. SEM: What’s the Difference? Scroll to top

This site uses cookies. By continuing to browse the site, you are agreeing to our use of cookies.

Accept settings

Cookie and Privacy Settings



How we use cookies

We may request cookies to be set on your device. We use cookies to let us know when you visit our websites, how you interact with us, to enrich your user experience, and to customize your relationship with our website.

Click on the different category headings to find out more. You can also change some of your preferences. Note that blocking some types of cookies may impact your experience on our websites and the services we are able to offer.

Essential Website Cookies

These cookies are strictly necessary to provide you with services available through our website and to use some of its features.

Because these cookies are strictly necessary to deliver the website, refusing them will have impact how our site functions. You always can block or delete cookies by changing your browser settings and force blocking all cookies on this website. But this will always prompt you to accept/refuse cookies when revisiting our site.

We fully respect if you want to refuse cookies but to avoid asking you again and again kindly allow us to store a cookie for that. You are free to opt out any time or opt in for other cookies to get a better experience. If you refuse cookies we will remove all set cookies in our domain.

We provide you with a list of stored cookies on your computer in our domain so you can check what we stored. Due to security reasons we are not able to show or modify cookies from other domains. You can check these in your browser security settings.

Google Analytics Cookies

These cookies collect information that is used either in aggregate form to help us understand how our website is being used or how effective our marketing campaigns are, or to help us customize our website and application for you in order to enhance your experience.

If you do not want that we track your visit to our site you can disable tracking in your browser here:

Other external services

We also use different external services like Google Webfonts, Google Maps, and external Video providers. Since these providers may collect personal data like your IP address we allow you to block them here. Please be aware that this might heavily reduce the functionality and appearance of our site. Changes will take effect once you reload the page.

Google Webfont Settings:

Google Map Settings:

Google reCaptcha Settings:

Vimeo and Youtube video embeds:

Other cookies

The following cookies are also needed - You can choose if you want to allow them:

Privacy Policy

You can read about our cookies and privacy settings in detail on our Privacy Policy Page.

Privacy Policy
Accept settings