Ideas, Creativity, Innovation

LinkLog: How Much Should You Spend On Marketing

How much should you spend on marketing. This is a question every entrepreneur thinks about. Here is what Evan says:

Interested in seeing if online advertising will work for your business? Start with $500 and see if you can get a return on it. It’s not too hard to find $100 Google AdWords credits for first time advertisers so you’re a fifth of the way there!

Can trade shows help boost your sales? Partner up with someone who is already going and see if you can get a part of their booth instead of dropping thousands of dollars on your own. See if you’re getting a response from people and then you can make an educated decision on future trade shows.

The real answer is “it depends”. But Evan leads you through a way of thinking through this problem.

Here are some of my thoughts:

  1. You need to spend some effort and money in going to trade shows where your potential users show up. We have done it with a lot of success. In these conferences, you don’t really sell. You observe. Talk to people, network and validate some of your hypotheses.
  2. You need to use lot of free inbound marketing techniques – Blogging, Tweeting, Leveraging  LinkedIn, Facebook, Creating whitepapers, screencasts, conducting webinars. Try them all. As Evan recommends, measure which one works for your product and industry.