Demystifying Digital Marketing Budgets
Ever asked yourself, “What should my digital marketing budget be?” You’re not alone. As a CEO or leader in the oil and gas industry, it’s crucial to understand how your digital marketing budget can be a game changer for your business.
The SBA’s Guideline and Your Business
According to the Small Business Administration (SBA), companies doing less than $5 million a year in sales with a profit margin of 10-12% should allocate 7-8% of their gross revenue for marketing and advertising. But what happens when your revenue lies between $25 million to $300 million, as many of our clients do?
Strategic Budgeting for Larger Revenue Businesses
As your revenue increases, the percentage of revenue spent on marketing often decreases. That doesn’t mean you spend less on marketing, but your budget should be strategically distributed to align with your key business objectives. Your marketing budget needs to work harder and smarter, reaching broader audiences or diverse market segments.
Definity Web: Your Ally for Achieving More with Less
At Definity Web, we know not every company can dedicate a massive budget to digital marketing, especially initially. That’s why we focus on helping businesses with relatively smaller budgets achieve substantial early wins. This strategy allows businesses to realize the potential of digital marketing and subsequently secure larger budgets for increased success.
We’re not just a digital agency; we’re your strategic partner. We treat your business as our own, ensuring that every dollar spent on your digital marketing yields the best possible return. Our firm combines the resources of a large agency with the flexibility of a small one, providing a deep understanding of the oil and gas industry and the unique challenges it faces.
Take the Next Step
Digital marketing is an essential tool in your arsenal. By understanding its value and potential, you can strategically allocate your budget to achieve your business goals. Eager to explore the potential of digital marketing for your business? Book a call with us (right below this post) and let’s talk strategy.