So how much should your business be spending per month on digital marketing… This is a great question, and one which we get asked a lot, so lets dive in.
To be honest, the amount businesses spend on digital marketing activities can vary significantly depending on various factors such as industry, company size, marketing objectives, target audience, and geographic location. There is no one-size-fits-all answer to the average monthly spending on digital marketing, as it can range from a few hundred dollars to thousands or even millions of dollars.
However, to give you a general and better idea and according to a survey conducted in 2020, this is what the survey found:
- The majority of small businesses (those with less than 50 employees) spend between $1,000 and $10,000 per month on digital marketing activities.
- Medium-sized businesses (50 to 500 employees) typically spend between $10,000 and $100,000 per month.
- Larger enterprises (those exceeding 500 employees), can spend hundreds of thousands or even millions of dollars each month.
Having said this, it’s important to note that significant results from digital marketing efforts depend on various factors beyond just the amount spent.
These factors include such things as the effectiveness of the marketing strategy, the quality of the campaigns, the targeting of the audience, and the optimization of the marketing channels being used.
Businesses, along with their digital marketing team, should focus on aligning their digital marketing activities with their specific goals and continuously monitor and adjust their strategies to achieve optimal results.
At www.swiftalchemy.com, our team will sit down with you one on one and establish exactly what your companies particular needs are, and then together, develop a strategy that works and serves your business best, in order to get the greatest results possible.
If you need any more information on how we can help you take you business to the next level, book a time to chat with us here. We would love to hear from you.
Take care
The Swift Alchemy Team
