How to Define Your Budget in an Inbound Marketing Strategy
Inbound marketing strategy: “mandatory” and incompressible spending
In order to better understand the amount of money that you need to invest in your inbound marketing strategy, the first point to address is the listing of key positions without which an appropriate marketing strategy cannot be implemented.
As Such, the Creation of Inbound Content is Absolutely Essential, Including in Particular:
- Writing blog articles;
- The creation of videos;
- Various infographics,
- White papers, ebooks, etc.
- Making a pretty logo design.
Content marketing will be the cornerstone of your strategy, but it will not be the only component. You will also have to optimize your presence on social networks, in order to create a real community around your business.
A Redesign of Your Blog and/or Website Layout Can Also be Very Useful.
Moreover, if the inbound content must be relevant and have a real added value for your buyer persona, so as to position you little by little as a reference in your field of expertise, the problem of SEO is just as important.
Inbound Marketing: Required Resources to Mobilize
Given the number of actions to be implemented, an inbound marketing strategy needs a conductor, who will be able to manage the project as a whole, with a good understanding of the issues related to each of the spending items previously mentioned. The skills of this project manager will directly depend on the priorities previously defined by the top management.
Thus, if the primary objective is the redesign of the website and/or blog, it would be better to entrust this operation to a duo of artistic director and web designer, while when it comes to social networks, it is clearly a community manager that should be hired.
You will also need at least one experienced web writer, in order to work on the «content marketing» part of your inbound strategy.
A natural referencing and SEO skill would also be a non-negligible advantage, so as to appropriately use the most adequate keywords. This will allow you to have a positive impact on the ranking of the site.
How Much Does an Inbound Marketing Strategy Cost?
For each of the items we mentioned, it is not simple to disclose a “basic” amount, even if it is true, for example, that a new website will cost, on average, between €10 and €15 K.
Realistically, it all depends on the resources your company has, the resources its top management is ready to devote to marketing, and the objectives you have set for yourself.
That being said, we can estimate that the “entrance ticket” is between €2,000 and €3,000 per month for a small business/SME.
On the other hand, there is no ceiling, the more revenue you make, the more you can allocate resources to your digital marketing strategy.
However, devoting too many financial resources to marketing at the expense of the company’s other services may have dire consequences. As this is likely to negatively impact the quality of services and products that you offer. Consequently, you may end up making less sales even if you have invested heavily in your marketing strategy, balance is key.