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.
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