Here at Hayden Digital we’ve written a lot about using paid media online. Check out this post to see what we think about the importance of paying to play. Now, what does it mean to pay to play? Does that mean your business needs an online marketing budget of $500 or more a month? Heck no!
If your a small business just getting started with online marketing there’s no reason to start spending all of your marketing budget online, though, it would probably get you a better ROI. A smart marketing funnel online can give you a much more precise and measurable ROI then most other marketing channels.
Consider traditional marketing efforts such as a billboard (at least $500), newspaper ($100 or more for one ad), and TV (way too expensive). All of these channels give you exposure to a large number of people but you don’t get any kind of detailed targeting with these channels. These channels are like blasting a shotgun when what you really need is a sniper rifle. Why pay hundreds of dollars (if not thousands) to put your ad in front of someone who will NEVER be your customer. That’s just wasting money. With today’s technology you can stop wasting that cash and start marketing to only your ideal client.
So How Much Should You Spend?
Here’s the thing, I can’t tell you an exact amount but I will tell you where to start. I believe EVERY small business should be spending a minimum of $5/day on Facebook marketing. That $5/day should be priming the pump of your digital marketing funnel. This simple $150/month should be starting your custom audiences for retargeting, getting cold traffic introduced to your business, and helping to show the world who you are.
Please, don’t spend $5/day just boosting random Facebook posts. That’s not going to prime your marketing funnel properly. You need to be spending this $5/day in a smart and strategic way that will help you leverage future marketing efforts.