How to Decide on a Marketing Budget

Whether you run a huge company or a small business, it is impossible to effectively run a marketing campaign without a budget. Most companies will carefully set aside a marketing budget to ensure that they have funds at their disposal whenever they want to edge out their competition in the marketplace.

Large companies usually do not have a problem when it comes to setting a budget for their marketing campaigns. This is because a big company is already established and may already have a steady flow of finances. Unfortunately, the same cannot be said for small, upcoming businesses. Here are some timely tips on how to come up with a marketing budget for small business entities.

1.     Analyze Your Business Finances

Analyze Your Business Finances
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Just because your business may have a few dollars saved up does not necessarily mean that it can be spent on marketing. Marketing campaigns do not always promise to yield results and thus require consistent testing to find what works. Therefore, it is important to ensure you manage your finances and not pour everything into a marketing campaign. Therefore, have a look at your business finances and decide how much you can part with to fund your marketing campaigns.

2.     Get Additional Streams of Revenue

Get Additional Streams of Revenue
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If your marketing campaign requires more funds than what you can afford, you might want to get an additional revenue stream to fund your campaigns. One of the ways to make extra money for your campaign is through selling more from your business. This can be done by creating partnerships with other local businesses. You can also monetize your website, especially if your business runs a blog site, you can use it to promote non-competitive products for a fee. This way, you can make some money on the side to pay for your campaigns.

3.     Choose a Marketing Platform

Choose a Marketing Platform
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One of the key determinants of a marketing budget for small business is the marketing platform chosen. Some will definitely be more expensive than others. Your job is to choose the most effective platform for your business and work around it. Social media is an ideal marketing platform for any size of business. It is okay if you miss out of a few opportunities as you can always save up for them for next time.

4.     Calculate the Cost per Action

Calculate the Cost per Action
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Marketing experts at insist on the importance of calculating your cost per action. While you may find this challenging when doing it for the first time, you need to know how much you pay to get people to go the things that you want them to do. This can be convincing them to download something, buy something, or just fill in a form. If you find that the cost of action is too high, it is possible that the marketing avenue you’re using is not ideal for you.

5.     Determine Your Returns

Determine Your Returns
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It is necessary to determine what your return will be. Come up with the number of clients you hope to attract at the end of your campaign and also determine what the minimum number is. Anything above the minimum can be considered acceptable. Decide on what percentage of the profit you’ll set aside to fund your next campaign. This way, you can ensure that your marketing budget steadily increases over time. This is how to come up with marketing budget for small business.

6 Ways to Boost Subscribers by Upgrading Your Content

Content upgrades are freebies offered to email subscribers as an addition to the blog or content your clients are already getting. If your target audience comes to your blog to get answers to burning questions, you can make them subscribe to your email by promising better content they won’t be able to resist. Most online businesses and internet bloggers have been using content upgrade for its high converting power. If you are looking for ways to get more subscribers to your blog, content upgrade should be on your list of strategies. Here is how to create a content upgrade with ease.

1.      Using PDF Guides

Using PDF Guides
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One of the easiest upgrades for content is to offer a PDF guide. You can use Google docs to draft your guide, give it a beautiful cover using free online tools and covert the document into a PDF file. This gives it a professional look that your viewers will be more than happy to subscribe to. When using PDF guides, you can expound on one of your blogs to create an in-depth guide that is offered to subscribers. If the content you offer is valuable, your audience will not mind getting more detailed info through email subscription.

2.      Using Audio and Visual Content

Using Audio and Visual Content
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This is one of the most valuable ways for upgrading your content. Different people have different ways they prefer consuming content. Some people love reading blogs while others would prefer watching a video or listening to an audio clip. Therefore, you need to consider using video and audio content as part of your content upgrade. There are online tools that can help with the conversion of written content to audio or video content. This is how to create a content upgrade that’s bound to increase your subscriber base.

3.      Using Email Courses

Using Email Courses
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If you want to attract and convert subscribers, you need to consider offering email courses.  No one can resist a free email course that adds value to their life. Email courses offer a convenient way for subscribers to get knowledge. At the same time, email courses give your subscribers a feel of exactly what you can offer, which makes it easy for you to sell your products and services.

4.      Offering Mini Workbooks and eBooks

Offering Mini Workbooks and eBooks
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If you do not want to spend too much time creating a whole book, you can create mini eBooks instead. You can create this miniseries by compiling blogs from your posts that were addressing similar issues.  Add additional information to fill in the gaps that may be present in the compilation. Your audience can download these miniseries through email subscription. This is one of the most used content upgrade strategies by experts.

5.      Using Checklists

Using Checklists
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People love checklists because they are easy to consume. Also, checklists are easy to make and consume less than any other method of creating content for upgrade. They are ideal for long-form blogs that have a lot of step by step details.

6.      Using Resource Libraries

Using Resource Libraries
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Giving your audience a resource library is an easy way to get them to sign up to your email list. You are guaranteed to get a ton of subscribers looking to take advantage of your content. This is how to create a content upgrade.