Ideally, you should spend between 5 to 15% of your revenue on marketing and about 10 to 50% of your budget should go into digital. However, if this seems like a broad range, consider the following factors to help you narrow down and determine how much budget you could allocate into your business’s digital marketing.
List your goals to increase sales and brand awareness
Drill down to the details to increase website traffic, increase conversion rate, increase social media followers *all by 50%
Select the best channels for competitor research, customer discovery and keyword research
Determine the cost of your marketing campaigns after shortlisting the most promising channels you would like to use and analysing past campaigns
Estimate your budget and measure the results