Spending a $1M Marketing Budget
Welcome to the 2.5 million dollar podcast. I'm Sean find one of my post Allie Whitfield. This show is brought you my daughter clothes out of vanilla soft company. Why don't you were introduced his guests or even better yet what we're talking about today. Good to spend a little while. A couple of sorts of my arm without you, so I'm going to have you do the intro of do better than I do. I'm reversing just recorded a sales. Team budget talks were going to flip the switch, I do the marketing team budget. What do we do with that? How to spend that, what council doesn't count and all that kind of stuff?
Let's do it. I think it's a good episode.
Sorry I'm going to talk, so I'm going to make it difficult for you. How would you even start with a woman? You're molting budget? What you going to do?
So it's the first thing I would do is I would make some hires and I'll tell you who those tires would be.
Alicia sister from past experiences that I I regret doing was not hiring. Somebody asked you earlier, if my company, I waited way too long. I don't want to spend the money could have walked Along came in and start up small business accountant. Rated e s c o right from the beginning because while you're building up your team, While You're Building at your procious, when you're building at your mark stack, all that stuff, SEO and content will start. So when you are ready, it could be a year down the road, 6 years, 6 months, down the road or a year-and-a-half when you really get everything in place. You'll have those. Yes, he owes. You have those Google rankings of your keywords and all that stuff. So I would start off with at least a few people content writers in STO, but I'd love to hear cuz you're way more of a marker than I am always. So I'd love to hear what your thoughts are on that.
Add salt with that to properly universally, no matter what, you sell, your price, point, your mate, or anything, that you could have this, a variable that probably for the reasons that you started pretty much, every guess we've ever had on that. Nearly always say that to she's going to win, but I do think the one thing that makes a very big difference at this point. Let's say, if my, if my uncle was PPC ads which can be expensive, people say it really depends what you. So, that's how much it is. So if it's four hours, for example. It's nine bucks a month. If it's just one person that's going to be quite difficult, we know from trying to make a good or a while now, you know who's on? Okay. We sometimes there's a lot, I think of and sometimes the supply and demand goes up and down, but that's going to be difficult. If you saw something worth a thousand thousand $10,000 or more,
It's fine. Doesn't matter if you make one deal out of sight 40K spend and you made 100K just because that's your deal price. Great. Well, done. You did amazing. So, I think that thought makes a very big difference. But like you said, I think if you could find somebody who has a background in SEO in that kind of web dev area and they want to expand and go into other bits to, then you've got the puffy started because like you said your kind of painful, let's do I see on the beginning I know is it's going to be a long time but they're going to want to try and be willing to focus on as well as other things in short-term getting so big. It's alive, it's all over. So you mentioned TPC now here's a question. I would have for you is I'm giving you the budget Raleigh. Now, how much of a budget would you initially used to kind of spin just to test the different keywords tested from PPC testificate right away with testing?
Pivoting changing words, changing different sentences in Alaska. How much should I budget? Would you spend on testing to get that real? Good recipe.
So let's say it's 25% of your entire body is PVC for the year. Maybe that's what makes us not. Depends on your break. I know it probably spend six weeks to months. It depends on what traction you see, on the bed testing. I know, we keep the keep the initial investment a little bit smaller than what you want to go full blooded with see how it goes. But you have to remember with Google as it normally takes like a week, probably two weeks of Jonas to actually settle in with a not that it's weird. How this works. It's not kind of like that. Goes it fluctuates. Google do stuff on the back and you can edit things. I don't know why it kind of adds if you if you were targeting this it kind of says, right. We're going to make it this and then we're going to make it for some reason, you have to keep telling it. No, no, I want my original criteria, thanks. So yeah. I saw a bit slower and then expand it once you get there. So probably
No close to us, everything that you going to spend cuz you want to ride and pop when you see it was not kind of scale down because no. Are you hiring that person? Internally are you going extra early to get that person to do, run that PVC.
I think it depends on what I'd like is a thought of my skills. If it was literally made today I need someone to do it. So I'd go for a part-time or or an agency contractor type of thing and I know you're plenty of rooms about poor to be my guard. So you just because of my connections. But yeah, I would do that and if you see, you do it, and you've got this may be its investment or something. You got probably a lot of other things to worry about spending that amount of money in the background is not your primary. Sorry, I didn't come these things change so fast as well. He kind of going to be on top of it all the time and if you know you're pretty far behind so I probably get knocked out to someone else is the best thing.
It would be the next thing that you would spend some of that budget on going on with that million-dollar given.
Then until the project is its allies. And when you break out it goes kind of quick sorority, golden quarter of that on BBC. We're going to go for some s, you as well. I'm going to go to quite hard and deep on SEO, and content being blogs and nice things. I think it means really establishing to the website through overtime of this leaks. It does take time but building stuff like the massive industry report that everyone talks about. So, for example, I've recently seen salesforce's top Cloud 50 or something like that. It's 70000 sales. Rep to complete that sell by. We, we do that. And that's the whole. This is frightening at the same time as we can sneak. In to Legion we can sneak in. Hey give us the email address and I will email you a copy when it stopped and if we did $70,000 and leads know that I expressed interest in the product but the next thing that we do the next ebook, the webinar, the podcast that we do
With potentially able to send that to them and then that's an even bigger footprint. So a lot of those things, if you if your awareness being at the store, I think you can do a lot of that. And it's not tremendously expensive. It might take a while before you see that wasn't. That was on this but that's why I say those things about the webinar off the way you're going to go. 70,000 people, write them in my cat, 1000 on the webinar, maybe, maybe the last out the night, but thousand and then if you do a decent job with you, follow up every time, that's called them, as if you do it, right? So you mentioned the outside person when I, you know, when the sale to always get mad at Mark and Amy blame me for everything is you just mentioned webinars. You mentioned, sto, you mentioned content. You messaged all these fun stuff, but the ones that you did not mention is tracking everything.
And I think that's the most important. I think one of the biggest mistakes companies make is they try a lot of different marketing channels but they never actually analyze. What is the actual Channel converting? What am I spending? What is my Roi? How many of those people are showing at those Landing form to be coming mql4? Personally, I think you could you could definitely take a million-dollar Budget Inn in stroller out really quickly.
But the question is, what is actually, what do you track? What are you analyzing? What is the, what is it? What makes up a successful marketing campaign, you mention two thousand people on a webinar? Personally, I rather have fifty people on a webinar were 20 people buying than having two thousand people in a webinar with 20 people by race number, but you never mentioned and track all these different channels that you're using. The thing about tracking tool is a knot in the only part of the budget that part of the feature-set on Tuesday, you need to be able to fulfill the things that we just said to be fine. If you can get Tony paper to buy off of 50 bus at 11. I want to know how you did it and you can, please sell me that calls 9, if you can do it twice in the volume three times in the right. I'll give you a medal just come join our email.
You can do your landing pages know about in that. I think you could do social media as well. But anyways, okay, this webinar, golf thousand. And then what, what is the life cycle stage? We can see a equals up to the store. We need to know that spill into how you been everything. Anyway, most most the time hopefully and if not be going to list, eggs, depends what you doing. I just want to let you do that for you first sight. If you were there in the hotspot landing page so you kind of go pick which way you going to go in and if it was just the website let's say it's a low price products or Self Service a Prius premium that type of thing but if it's not on you doing like an hour and emailing people then then you need like CRM and get out that way.
Go to back to. We were actually both I think we both agreed upon the SEO and content is is one of the first year as you want to do cuz the long game. What other positions are you hiring early on that marketing team out? Are you building? Are you, are you kind of finding someone that is going to manage the team or he trying to find Dewar's that actually do things?
Sorry, I missed your person. Like I said, I think they're a bit of a Hybrid dogs, and ser experienced person who wants to do. More depends on their agencies. What? Kinds of things that interested weather end up going? I will make sense. So, I might be a bit of a balance and I think the house is probably an external results. So I could be contract Security Agency. However, you to find that, depending on how many concert Rises or again, you can use a vendor's to do it too. So countdown. It's have a project manager who does nothing except ask people. Why something is are you late? You need this, what's holding you up? They literally sit in the project management tool and that's it over at the store because of the number of sauce is part time.
At school at Notre, be too expensive and when things get going, I think that post these kind of like the team late, except for your use, the founder of saying, but this is the directive is someone acts as if the if there's a lot of people doing stuff and then not so kind of held to account by a singular person. It's a bit of a free, throw it away. So that's why I think you do need. I always found whenever I was a project manager, everything. What's a hundred times better than if that wasn't a person. You have to do it. No matter how it was, someone gets to say, showing your light. What you doing? I need this in March nice too, but that was always such an important role in half. It does become a bit messy. So the biggest thing, the team does Besa Besa, 10 is I just do things better and a little bit faster than a few less mistakes. It's the really small things is no, like huge thing that they've done.
It's just that proficiency did the price. I sold all that stuff, the unsexy really boring stuff that no one wants to talk about it. Is that a new project manager is literally the person who makes at work.
The one thing that we didn't really mention that, I need to make my note side person who's not a marker at trade, but it is, I would probably take 10% of a tape recorder. Try for things over the quarter and see if you can find cuz I think one of the biggest mistakes markings make sure they get too comfortable doing the same thing and not trying new things and Ferb sample. And I'm not saying this is something that would work or not. But like, if it was me, I'm in marketing and I know you've recently started, this is it might not work even though I think it's a channel that first off, not everyone's doing it right now, and if it does work me to get something viral, it could be
Very useful. So I was only takes four, quarters 25,000 a quarter. I something completely out of the box you fail you failed but if one of those for hit you didn't even make it over while a hundred thousand dollars. So I can personally what I would do I love to get your opinion on that.
Yeah, I think whether it's time to send a deposit of 5% off, take a number for ever make sense. The main thing for that is why you got to be way ahead of these things cuz I like it we can have it all going right now. Let's say I will need for a goes right now off of cliff and we don't know why it's probably something wrong. But in the meantime, there's nothing I can do right now to solve it in the next week is still going to be like that next month until my next level. Until my next PC budget. Till my next everything happens it's not going to change that was some time since I was looking for it, if we load them by what, we'll do a cool place and we can change it now. Where is in multi Yukon. So I think you've got a guy Yaki, one will do, maybe about your conference will try that. I am done that before. Then he keeps an impasse in dinner with us top 10 accounts if we can do that. I don't know how we'll try. Then if you three will do, maybe we'll double our PVC bachata.
You pick something else. That's the way to do it and then you kind of pre-register the head of the year and you know how to do it at your conference. If you have done it before, you can get it wrong. You going to make some mistakes. So you can't do every quarter and then try to watch all the next one. You you'll never get ahead of it so it has to be premeditated.
Perfectly. I think that will round things up for this episode and gets a lot of good marketing stuff that we just provide it. But the I want to thank everybody for joining us today. This is been a blast and also thank you for everybody listening. If you enjoy the show today, don't forget to give us a 5-star review wherever you're listening from And subscribe. She don't mix the miss the next show. See you soon if I don't hear from everyone and have a great weekend.
In this episode of The 0 to 5 Million podcast, Shawn and Ollie tackle the challenge of spending a $1 million marketing budget.
Discover the steps to take when starting out with a large marketing budget, including the allocation of budget for testing PPC and SEO. Learn the importance of tracking and analyzing results, discover the key positions to hire early on, and the benefits of trying multiple strategies and channels.
This episode is a must-listen for anyone looking to grow their business through effective marketing budgeting. Tune in now!
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