How to Create a Marketing Budget | Ep. #58

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In Episode #58 Neil and Eric highlight how they create a marketing budget. Listen as they illustrate the differences between short-term and long-term budgeting, the value of content for link building, and the one place you should spend at least $10K per month if you can.

Time Stamped Show Notes: 

  • 00:25 – Today’s topic: How to Create a Marketing Budget
  • 00:34 – Short-term versus long-term budget
    • 00:48 – SEO is a front-loaded cost
      • 01:18 – Takes a long time to get going so you spend a lot early on to get it set up
    • 01:25 — Social media
      • 01:29 – Ad buys can be done on a monthly basis…it’s ROI driven
      • 01:55 – Fan building, another front loaded cost
    • 02:18 – If you have something that’s working, go all in on it, don’t stop arbitrarily
      • 03:10 – When you’re starting out, you don’t have unlimited budget, so it’s important to invest where returns are greatest
    • 04:30 – Content marketing and link building
    • 04:40 – With CRO you need at least 10K visits per month
    • 04:48 – Content is KEY for link building, and you can’t do it right unless you’re spending 10K per month
    • 05:40 – Eric spends $2500 per month just on tools
    • 06:29 – Digital Marketer breaks down the traffic buckets brilliantly
    • 06:55 – Allocate 68% of funds to cold traffic
    • 07:15 – Don’t blindly dump money into programs

3 Key Points:

  1. Build two budgets, short term and long term.
  2. When you’re just starting out, your funds are (probably) limited, so put the money where the returns are greatest.
  3. If you want to be successful in link building, spend money to develop marquee content.

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