How much should you spend in your online advertising?
Online advertising, if you are not careful, can become quite an expensive ordeal. Even if you are careful sometimes the cost of internet marketing can creep up on you and catch you by surprise.
So, how much is too much? Or, how much should you be spending in your online marketing? What’s too low? Too high? If you think about it, should you be spending anything at all?
There are so many ways to advertise for free that the thought of advertising your website, and paying for it, just doesn’t seem like a viable option. But, sometimes it is a necessity. Especially when you want to maximize affiliate marketing profits.
Then the question comes back to mind of how much should you spend.
The answer is not all that easy. While it is a little complicated and can get into several different parameters; analysis of your website, intended target, click-thru vs. time spent at webpage, and a plethora of other mind numbing statistics — the bottom line all boils down to really a few, well… thoughts.
Online advertising costs as much as you want it to.
No, really. We can get so caught up in how much to spend that we forget the idea that we are ultimately in control of how much we want to spend. There is no super-mind-controlling-being out there that manipulates online advertising and dictates that there is a certain amount you must spend in order to be a “super affiliate” (of which the buzz word is for people who are successful).
You are left to your own choices as far as spending on advertising goes. It is simply up to you.
Then again, we are brought back around to the haunting question, “How much do I spend?”
Here’s a few guidelines that I follow when putting together an ad campaign.
1. Decide on your goals. As a recurring theme here at TimBossie.com, the importance of setting goals in your online advertising can not be underestimated. That goes for your spending too. You must ask yourself what your goal is in the current advertising.
Do you want a mass of traffic?
Do you want targeted sign ups for your autoresponder?
Do you want instant sales or leads?
Are you looking for long term/back-end sales?
Each instance, each goal, each little nuance of your goal will lead to a different way you spend your advertising dollars. One might call for aggressive PPC campaigns, while another can be a casual, low cost (and even free) article marketing campaign or email ad campaign.
2. Test in multiples. Spending is wasted if you do not test your advertising. Start out small and then go bigger, if the profits allow you to. One of the first things I tell my advertising clients is to set up a web presence using some free advertising venues like Blogger.com and Wordpress.com. These are free blog platforms that allow you to begin interacting with potential clients and customers without spending a lot of money. This also allows you to test certain things like auto series, landing pages, articles, and even ads.
Don’t use just one article for article marketing. Use three different variations spread out among different blogs and directories.
Don’t use just one email ad. Use at least three variations, or in a progressive manner.
Don’t use just one landing page. Create at least three of these to test headings, sub headings, video content, and persuasive language.
Do test. Test everything using low cost methods before jumping into the big spending.
3. Negotiate, negotiate, negotiate. For some reason there is a little hesitancy on the part of advertisers to talk, enter into a dialogue, with publishers and other people they want to advertise with. One of the biggest factors to controlling your spending is to negotiate a price that is good for both parties.
I am always on the hunt for a great advertising deal and will contact the person to see if we can maybe work out some other kind of deal. Sometimes it might take you committing to some long term advertising, but at a lower cost than normal. It might mean you exchange services or products. It could mean anything as long as both parties win.
Always enter into negotiation.
4. Build everything around repeat and relationships. One of the biggest mistakes that people make in their online advertising is that they go for the quick buck. They advertise only thinking about the initial visit. Their mindset is that the sale must be done on that first visit.
But, that rarely ever happens.
Sometimes it does, but that’s the exception rather than the rule. After countless studies and tests it has been determined that it takes anywhere from 7 to 12 visits to your website, from just one person, before they will commit to spending their money with you. With that in mind, you must look further than just the first visit.
Your advertising must take into account repeat visits by each visitor. You do that by having other ways for you to stay in contact with them. This can be done by;
a. opt in list
b. RSS feed
c. free report
d. incentive to engage in comments
e. contests
f. new daily content
g. and a host of other things.
You are only limited by your creativity when it comes to engaging your visitors for repeat visits. This also goes into the realm of building relationships.
One of the biggest reasons I re-visit websites is because I have a relationship with that person. They are who I think about when I need something they provide.
When you think about the repeat visits and relationships you can build with these people you do not have to advertise to them again. That means you don’t need to spend as much on your advertising. A dynamic happens.
You become organic. People will talk about you. They will encourage others to visit your site. They will recommend your products and services. They become your advertising.
How much should you spend on your advertising?
That depends on you.
If you follow these guidelines your costs will be kept down because you choose to. With your next ad campaign (yeah, the one you are starting right now) keep these things in mind. Develop your advertising according to your needs and your budget. Don’t get sucked into the lie that you need to spend thousands each month just because someone else does.
