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Planning the right budget for your advertising?

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New companies: For companies that have been in business for one to five years, we suggest using 12 to 20 percent of your gross revenue or projected revenue on marketing. (Companies less than a year old, tend to need to ramp up before spending marketing dollars.)
Established companies: For those companies that have been in business more than five years and have some market share/brand equity, we suggest allocating between 6 and 12 percent of your gross revenue or projected revenue.
There are certain unalienable marketing rights of passage that you must spend time and money on so you don’t miss the brand boat:
Now obviously the mix and dollar spend on each of these will differ significantly based on your product or service but resign yourself to the fact that each of these will take a sizeable bite out of your budget.
 5 Ways To Optimize Your Digital Marketing Budget
How much should each of these channels? Fees can range depending on the age and size of the company and national, local or global marketing goals.  But here are some basics:
Branding
Inexpensive: 99designs  $400 and does not include additional collateral (business cards, letter heads, email templates, etc.).
Good: Small agency may charge between $4,000 to $5,000 and should include all necessary collateral.
Great: More than $10,000 and this is if you are going to a large agency who is creating your entire brand book, story and collateral, among other assets.
Website
Inexpensive:  Wix or WordPress can be a do-it-yourself website and can be free.
Good: For a Wordpress site designed to look like your brand, it will usually cost you around $3,500 and add an additional $2,000 or more if you need a plugin shopping cart.
Great: At least $15,000. The price will depend on functionality, automation and design, among other components.
Social media
Inexpensive:  Hire an intern or a college student.
Good: Between $1,500 and $2,500 for a small agency.
Great: More than $4,000. The price is based on number of platforms, listening software, amount of real-time interaction and PR integration.
Advertising
Inexpensive: Tell your friends and word of mouth
Good: Some social media marketing (between $300 and $500 a month) along with targeted ads on relevant websites, which is around $500 a month.
Great: Full social, outdoor, print, digital, pay-per-click will set you back at least $3,000.
Content
Inexpensive: Hire an intern
Good: A freelancer platform like Odesk.com, where you can name your own price
Great: Agency content usually runs $250 and $1,000 per piece depending on word count and graphics
Events
Inexpensive: Show up and network at other people’s events
Good: Cross-market with another brand with the same target audience
Great: Full events strategy. For production teams, small event start at around $5,000 and can reach into the millions.
There’s no magic bullet to reaching your marketing goals, but there are steps to take to ensure you’re building your brand in a measured, directed fashion that spends your money wisely.

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