Okay – so here I go, sticking my nose in to things again… ha ha. Anyhow, I was on a forum just a few moments ago, and the question that was asked was basically, how much should someone spend on advertising…. Well, here’s my answer:
‘With advertising, it’s all about calculating your ROI – as in your “return on investment.”
One business owner may spend 10 hours doing free advertising, and get 1 sale out of it, where another simply pays $20 for an ad and gets 10 sales. Obviously, spending the $20 was a far better ROI.
I’m NOT saying that free advertising is bad. I actually offer a tips list of 100 Free (and almost free) Advertising Methods (https://indiebizchicks.com/wp/hot-100-ecourse/)
I think that what is most important to realize is that there is no “right” or “wrong” answer on how much to spend on advertising. The results will be different for each business. Experiment with several things, track your ads, and then focus on the type of advertising that is pulling in the results.
(and just in case anyone is interested in learning more about advertising, one of this month’s guides in The IndieBizChicks.com Members Center is all about advertising and will help you figure out your ROI, where to place ads, how to get the most targeted advertising, etc. Find it at https://www.IndieBizChicks.com/mc.html)’
What do you think?
this is such a great topic to cover! i think everyone struggles with this. i’m going to go check out the article in the members’ center!