So for Overall marketing I assume the rule of thumb is marketing should be 20% of your overall budget. bar minimum. No arbitrary number can be mentioned I am sure but. For a fledeling clothing store with prices between the range of 22 - $45 with sales being offered taking the price down 30% sometimes, what is apossible budget range that would be good for advertising?
I am advertising on Facebook, IG (But I never EVER see sales from instagram, likes all day long but no sales. I start to feel like instagram is useless, I look at similarweb stats for other clothing stores and i never see any sales from instagram in their stats.
But what would be a decent budget size for a small store, I currently only get about 1,000 visitors a month. and have been in business for 9 months. I told someone i had a budget of $100 - $250 a month on this one, and they said that was too small.
I do want to go after influencer marketing as well, but that has been difficult to get into.
But FB ads, primarily, IG secondary, 3rd has been Reddit, and google adwords, Eventually twitter and pinterest, and polyvore, along with influencers.
Great topic, thanks for posting.
When it comes to budgets, paid, ads, etc., too many ecommerce companies mess up their campaign narratives from the get-go, and waste a ton of money as a result.
I wanted to add my $0.02 to the discussion:
The ideal place to begin this story is by looking at what your differentiator is. The unique selling proposition. That’s still an incredibly valid place to start. In a distracted online environment, it’s never been more relevant.
You have to put yourself in the shoes of someone whose life would be improved by your product.
Here’s our favorite question to ask new clients:
Who is the kind of person that, if they had this product, and you took it away from them, would feel some sort of pain?
This question helps us build out specifically who that person is in terms of their needs and media consumption, what kind of similar brands they're shopping with, and so on.
Anyway, we published a post about this in greater detail, if anyone’s interested in reading more about campaign narratives: https://bit.ly/2HWiFYY
Hope that helps!