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How to Lower Your marketing Cost

Or – A better way to look at that is:

How to Earn More With Your Marketing Dollars

It might sound counter intuitive at first, however often companies are spending too little which wastes marketing dollars because sometimes spending more can prove more profitable. Advertising is a lot like shooting up a signal flare to get help.  If the flare can only go up 200 feet you might not see results, especially if no one is the low flare radius.  A flare that goes up 600 feet might cost three times more but, if the results are a profitable campaign then the higher spend would make more sense.   Your goal should be to determine the right amount to spend in every campaign you run.

Most profitable marketing dollars

What should you include in your marketing campaign?

Social Marketing, Competitive Analysis, Content Marketing, Display Adverting, Email Marketing Landing Page Optimization, Marketing Automation, Mobile Marketing and website Optimization, Pay Per Click (PPC) Advertising, Responsive Website Design, Search Engine Optimization , Video Marketing, Website Analytics, Keyword Page Ranking Tools

Where to spend you marketing budget

Where should you spend your marketing dollars? This is usually the biggest marketing stumbling block companies must deal with.   Without experience in all these areas I would suggest you see a professional online marketing company and not one that just does websites.  Above all you need to find someone with a wide background in all these areas. Someone that can give you some proof that what they suggest is the best and correct course of action.

What We Look at to Determine a Marketing Budget

  • Competitor research- We investigate your successful competitors to see what they doing and how much they are spending
  • We need to know what your revenue projections are to help determine a budget.  Without some idea of the budget there is no way we can recommend a logical marketing plan. The SBA explains how to determine your budget.
  • We need to fully understand your product and who your clients are and then do research to determine where your clients could be marketed to. 
  • Understanding your marketing strengths and weaknesses is important.  For example: do you have someone within the company that can do Social Media monitoring or someone good with shooting videos.  If someone is good at email marketing or landing page development, then we might suggest spending your marketing budget in other areas.
  • We would also work to determine what spending is necessary to be successful in that marketing segment.  There is a point at which spending too little wastes your budget and also spending too much can waste your budget.  
  • Finally, you should have a plan to continually examine your competition and their marketing techniques.  Marketing professionals can be a great deal of help because they usually have the tools to examine a competitor and know about new marketing techniques and trends.
The most profitable marketing

 Interpreted properly this information will guide you to the most profitable use of your marketing budget.

How much time and/or money should a small business spend?

Professional marketing companies will recommend 7% to 8% of your revenue. Others will suggest that small businesses spend 7-20 hours a week. Larger companies more.
The truth is there is no perfect formula for how much time or dollars you should spend. There are so many variables that need to be considered to determine the amount of investment and where to spend it that most businesses go about marketing as if it were a dart game. They throw darts hoping to hit the bulls eye.

The problem is that without some solid marketing information it’s like throwing darts from 30 feet away. If you can gather up lots of information so you understand your customers better, your competition better and your marketing opportunities better you can move the target much closer. Once your darts are hitting the dart board you can start to zero in on the bulls eye.

Marketing Stress

There are three stresses that make up the majority of marketing stress for small to mid sized businesses.

  • Lack of time to manage the marketing
  • Lack of funds to higher a professional to manage the marketing
  • The difficulty in finding and retaining someone to manage marketing with the needed skills for your business

If you started a business with the knowledge that you would be responsible for marketing the business you should have time budgeted for those tasks and have some background that made you feel confident you could manage your the marketing for your company. If you started your business so you could work less or to run the business, you probably don’t have the time or the knowledge to do the marketing yourself. In fact trying to do the marketing when you are ill trained to do so can quickly take up all your time and probably not give you the best results.

The solution- Higher a professional

How to know if you have the right person for you marketing

Digital marketing is changing so rapidly that a small marketing office should probably only specialize in one part of digital marketing in order to master it. If you want to stick to one office to manage all of your digital marketing needs be sure the office has a lot of resources. If you have developed a marketing plan you should see if the company has qualified resources in each digital marketing area that will be needed.

Digital Marketing Fields Include:

First Step – Research and Consultation

Before you dive into a marketing plan consider investing in some research so you better understand your customers, your competition and the marketing options so you can direct your marketing efforts in a more profitable direction. The money will be well spent as it can save you countless dollars in future marketing.

WSI-We do it all because we can.
We have over 1200 offices and production centers in over 80 countries. This office in located in Asheville, the Western North Carolina regional office.


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