Today, a company’s success is determined by its strategy and talent. Poor content marketing budget can result in poor designs and execution. So, how would you properly calculate a content marketing budget?
Ideally, the average budget should be 20-30% of the company’s annual revenue, and you should be aware of the costs for the various types of content.
There is a lot that we can find on the internet that catches our attention and entertains us. Over the last few decades, content marketing has increased the conversions and revenues of thousands of businesses.
But how did content marketing get its start? It all started in 1895 with John Deere’s publication of “The Furrow” in magazines, and when Facebook was launched in 2004, content marketing took a dramatic turn. Photos and videos spread quickly. Digital content marketing was born, and it quickly became the primary method for brands and consumers to own their online voice.
1. Ads
– Free to $1000
The concept of creating advertisements through images has been around for centuries. A few years ago, sites that became popular for creating digital ad content were created.
Although the results are far from what was expected, it is an excellent way to begin with visual content.
If you hire an experienced freelance designer, your budget should be between $250 and $750 to ensure that you get an innovative design that is appropriate for your business. Agencies with an experienced design team can charge you more than $1000 for their services, which are typically used for large-scale projects.
2. Copywriting
– $15 to $50 per hour / $50 to $75 per 500 words
Designs, as one of the most important aspects of marketing, draw people’s attention, but it is the message that causes the audience to react. In online advertising, images and text can be animated or static.
To avoid disclosing too much information in your message, keep it simple and straightforward. Concentrate on capturing your audience’s attention with clear and compelling content. To encourage your customers to take action, provide CTAs that stand out from the rest of the banners or images.
3. Social Media
– $250 to $400
Social media can help a company establish a strong online presence by focusing on the quality of its content.
The majority of web traffic is generated by social media, where users can share content across multiple platforms. One of the best ways to make an impression is to create user-generated content that will pique the interest of your audience and increase engagement.
How can you get your target audience to interact with you on social media? Give them various reasons why your company exists. Your presence has the potential to provide solutions and show people what they are looking for.
Content Marketing Budget
You must understand the costs and factors involved in content marketing. Set your goals, decide whether you want an in-house employee or a third-party company, and then decide on the tools you’ll use to create a more accurate budget.
Keep in mind that the formats you select are influenced by your audience. Before you can develop an effective content strategy, you will need to go through some trial and error.
Have you ever tried to do any type of content marketing in the past? Please let us know in the comments section below!