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5 Ways To Pay For Your New Inbound Marketing Engagement

Stop Doing Inefficient Marketing And You’ll Save Money Even When Working With An Inbound Marketing Agency

You’re finally ready to get serious about your marketing. You realize you’re not doing it right. You realize the results are below reasonable. You’ve done all of your research and you know aligning sales and marketing is going to be part of the exercise. You’ve come to the conclusion that technology is also part of the solution. You’ve set your goals and they’re aggressive. Now what?

As part of your strategic investment in your new inbound marketing program, you’ve selected three top-tier agencies to talk with about helping you. They’ve all given you proposals and they look similar, with costs ranging from $7,500 to $15,000. You’ve never invested this amount in your marketing before, so you’re nervous.

But there’s good news. You’re looking for different results from this type of effort, and considering what you’ve been doing and that what you’ve been spending didn’t work, doing something different is smart. But there’s more good news. It is possible to stop spending money on ineffective marketing and save money in the process even after you’ve invested in your new program. New marketing that’s effective and you get to save money  it’s a win-win.

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How Much Should My Inbound Marketing Program Cost?

The 6 Factors That Impact The Investment Level For Your Inbound Marketing Program

This seems like the question of the day. You want to do inbound, you know some inbound agencies and now you’re trying to decide how much to invest in inbound. But you can’t really trust the agencies to give you a budget because they want you to spend more and you don’t know how to set your own budget since you’ve never done this before.

So I’m going to give you a workflow that will allow you to create your own ideas for what your investment in inbound marketing should be and it’s going to be based not on what we want you to buy, or even what we think will work, but rather on only one factor — your business goals.

I mean, let’s be reasonable. If you have a $10 million company with an average revenue per new client of $10,000 and you want to drive an incremental $10 million in sales through your company, you have to be ready to invest more than the CEO who wants to drive an incremental $100,000, right?

Here are some factors to help you set your budget.

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The Unknown Impact Of Underinvesting In Inbound Marketing

Invest Enough To Make Sure You’re Giving Inbound Marketing A Fighting Chance

Setting a budget for marketing investment has always been challenging, even for the savviest business leaders.

Almost no one knows how to connect business goals, like going from $10 million in revenue to $15 million in revenue in a single year, to an appropriate marketing budget. It’s not your fault. For years, knowing what money invested in marketing should be producing for your business has been a very gray area.

Marketing has always been an art. Get your name out there and people will buy your stuff. Nah, we all know today that marketing needs to be accountable for hard business results like revenue. Here’s some good news. Marketing investments can be held accountable for results if you practice inbound marketing.

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