How to Create a Marketing Budget | Ep. #58

In Episode #58 Neil and Eric highlight how they create a marketing budget. Listen as they illustrate the differences between short-term and long-term budgeting, the value of content for link building, and the one place you should spend at least $10K per month if you can. Time Stamped Show Notes: 00:25 – Today’s topic: How to Create a Marketing Budget 00:34 – Short-term versus long-term budget 00:48 – SEO is a front-loaded cost 01:18 – Takes a long time to get going so you spend a lot early on to get it set up 01:25 -- Social media 01:29 – Ad buys can be done on a monthly basis…it’s ROI driven 01:55 – Fan building, another front loaded cost 02:18 – If you have something that’s working, go all in on it, don’t stop arbitrarily 03:10 – When you’re starting out, you don’t have unlimited budget, so it’s important to invest where returns are greatest 04:30 – Content marketing and link building 04:40 – With CRO you need at least 10K visits per month 04:48 – Content is KEY for link building, and you can’t do it right unless you’re spending 10K per month 05:40 – Eric spends $2500 per month just on tools 06:29 – Digital Marketer breaks down the traffic buckets brilliantly 06:55 – Allocate 68% of funds to cold traffic 07:15 – Don’t blindly dump money into programs 3 Key Points: Build two budgets, short term and long term. When you’re just starting out, your funds are (probably) limited, so put the money where the returns are greatest. If you want to be successful in link building, spend money to develop marquee content. Leave some feedback: What should we talk about next? Please let us know in the comments below. Did you enjoy this episode? If so, please leave a short review. Connect with us: NeilPatel.com Quick Sprout Growth Everywhere Single Grain Twitter @neilpatel Twitter @ericosiu Learn more about your ad choices. Visit megaphone.fm/adchoices See omnystudio.com/listener for privacy information.