Define Your Marketing Budget

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Generate 100 new leads from LinkedIn ads (specific and measurable) in September (time-bound) based on our previous result of 85 LinkedIn leads (achievable), as they have proven to convert into high-value customers (relevant)
Partner with six tech influencers for product demo videos on YouTube (specific, measurable, and achievable) in Q4 (time-bound), because they reach software buyers in mid-sized businesses (relevant)
Grow email subscribers to 5,000 (specific and measurable) in the next six months (time-bound) from the current 1,500 subscribers (achievable) because subscribers that turn into leads tend to convert at a higher rate (relevant)
You get the gist. Take into account your resources (we’re tackling that in the next section) and bigger goals to set your marketing objectives—you can reflect and tweak them as you learn.

7.
“But how much will all of this cost my startup?” The real answer is: it depends.

If your startup is well-funded, you might not be egypt telegram data intimidated by any size of marketing spend to get the results you want. Bootstrapped startups, of course, will have a different story going on.

Here are some core marketing expenses you need to consider to define your marketing budget:

The cost of people: Core staff salaries and/or agencies, consultants, and freelancers like writers, PR reps, SEO consultants, etc.
The cost of tech: Marketing tools for social media management, design, email marketing, automation, CRM, video hosting, online forms, content optimization, etc.
The cost of media: Paid ads on social media, YouTube, and/or search engines
If you already have revenue, some experts suggest you should spend between 6 percent and 20 percent of it on marketing. If not, Baremetrics suggests to keep your marketing spend below or around $1,000 per month.