Beginning your 2017 marketing budget plans? Whether you’re actively engaged in or planning to start implementing inbound marketing and sales strategies, it requires a new approach to planning your marketing budget. These stats provide examples of what most companies do with their marketing budget. Use these as a rough guideline drive your marketing budget planning.
- Most companies marketing budgets consist of 4-8% of their total revenue. If they use a data driven digital inbound marketing program, this will take up about one-quarter of that budget. The more leads your organization needs, the more content that needs to be incorporated into the program, which means a higher percentage of the budget toward inbound marketing. However, the end result is more sales!
- 28% of marketers have reduced their traditional advertising budget to fund more digital marketing.
- 26% of all marketing dollars in the U.S. are not directed toward custom, branded content.
- Search engine marketing (SEM) will continue to capture the largest share of online spending at 47%, or about 14% of the firm’s total marketing budget.
- On average, inbound marketing costs 62% less per lead than traditional marketing. Leads sourced through inbound practices are consistently less expensive than outbound leads.
By utilizing these stats, you can begin creating your very own marketing budget. Even though these stats are useful, you should always plan your marketing budget based on the data you collect. With the basics down, you can now begin to create the right marketing budget mix for your company.
