How much do you spend on marketing as a startup?
Hi IH's,
Just kinda looking to crowd-source some guidance. We're early stage looking to do some meaningful marketing. Having chatted to some marketing agencies I notice that budgets vary wildly from $1,5k-$15k+ monthly. In terms of community benchmarks, I am wondering:
- What's the average % spend of turnover on marketing for startups?
- Do you use freelancers or agencies (assuming internal capability is limited)
- Have the results been meaningful (Good increase in visibility, leads, conversions, better customer engagement, etc..)
Any recommendations/advice in the organic social media marketing and influencer marketing space would be welcome too.
Need to know more about your product to tell you how reasonable these investments will be. With each partnership you should be looking at their ROI and how much they can stand for their offer.
If you need to get frm 0 to 1, 15k might not be the best option. Also, it depends on how much they provide - 1 blog article a month or 5 people hustling on your thing. In case you're under 100 customers - it's better to close first 100 manually anyways.
You can DM me on Twitter so I tell what will be a better strat for you.