Written by Reginald Chan on September 16, 2020

How Expensive Is Digital Marketing as a Startup?

Every business has costs to bear, regardless of what industry you’re in. When you start a business, you will have to consider various expenses and allocate your budget accordingly. Developing a strong digital marketing strategy should be a key focus of every startup. Digital marketing has become one of the most effective ways to build brand awareness, expand market reach, and promote products and services online. To help you manage your budget effectively, here are two of the biggest digital marketing costs for startups.

Social media marketing

Social media should form a key part of your digital marketing strategy. Recent statistics show that there are around 3.2 billion social media users around the globe. According to assetdigitalcom.com: “54% of browsers use social media to research products and services before they make a purchase.” Social media has soared in popularity over the years and startups should take advantage of this trend to connect with their intended customers and promote their brand online. One of the biggest advantages of social media marketing is that you can set up an account on social channels and post for free. This makes it an excellent marketing option for startups with a small budget. That being said, you can boost the overall effectiveness of your social media marketing by investing in paid ads or hiring a social media manager. Many startups allocate part of their business budget towards social media marketing and see a good return on their investment. If you want to improve your social media approach but don’t have the capital available, then you could consider taking out a payday loan with Cash Lady. This will enable you to make the necessary improvements to your social media strategy to increase sales and profits.

Website marketing

All modern companies need a website to remain competitive in the digital age. Social media can be a highly effective way to market your business online. However, it will be very difficult to establish your brand and develop trust with your customers without a professional website. Keep in mind that your website will be the main channel where users learn about your brand, products, and services. You must therefore make your company site a top priority and focus on driving traffic and increasing conversions. You can use a combination of Search Engine Optimization (SEO), content marketing, and other online tactics to form a successful website marketing strategy. You should avoid being too conservative when it comes to budgeting for your company website. Allocate a decent chunk of your startup budget towards developing, maintaining, and promoting a user-friendly site for your startup.

In a nutshell

Digital marketing is a powerful tool that startups can use to grow their business, build brand awareness, and increase their bottom line. Digital marketing can be more affordable than traditional marketing tactics, although there are likely to be some costs involved. You must consider how you are going to market your business online and allocate a budget towards developing a strong digital marketing strategy.

Article written by Reginald Chan
A meticulous entrepreneur by nature, Reginald is a sought-after success coach, digital marketing consultant and TEDx speaker from Asia. Currently, he teaches others how to make money online for free.

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