Johnson & Johnson spent $2 billion on marketing this past year. That same year, they grossed $85 billion, for a 42X mROI (respectively). Historically, the more they spent on marketing, the more gross annual revenue they achieved. See the correlation?
While you don’t have to spend billions to see a great return, this statistic underscores the importance of investing in promotional activities for any business.
For the rest of us, conventional wisdom suggests that you reserve about 5% – 10% of your annual revenue for marketing.
We’ve had clients spending anywhere from $1000 per month to $30K per month. There are certain expenses that can be one-off’s, but in the digital space, nearly all services are monthly recurring. Every client is different. And so are the campaigns we create.
Make sure your potential partner can give you some great options.
There are no perfect, templated marketing strategies or budgets. It comes down to what’s perfect for you and we take great pride in helping you figure that out.
