kris

Do you use a marketing budget for your business? Or do you just spend as needed and when you have the money? Many small business owners I have talked to do not seem to have a set allowance of money for their marketing and advertising. I know I never did and never do. So far it doesn't seem to be a bad thing.

Super Mod

I don't set aside an exact amount for marketing, but I do spend at least some money every month when marketing a business. I know my logic sounds a little contradictory, but the better we did the month before the more I will put into marketing the next month. I think most people will do the opposite and put more money into marketing the worse they did the previous month. I guess I'm just strange in that respect.

borsaid

Whoah. You need money to market? I thought that was what credit cards were for?

I hear Spencer's philosophy loud and clear. I dont think it's strange at all, probably more common than you think. When the cash flow is up, you have money to spend on the advertising. . .without the money spent on advertising, your cash flow will go down. Infant businesses have to spend spend spend. If you don't spend the money when it comes in, it will bleed away.

If you've done your job spending on marketing, you will develop a network. When cash flow is down, you should spend your time on internal development rather than heavier marketing. Take the quiet time as an opportunity, not a lull. If you maintain some sort of identity branding, whether you're spending zero or just very little cash, the network will eventually pick you back up. With that time spent on internal development, hopefully you'll be leaner and meaner. Efficiency with current customer base comes before needing a larger customer base.

darren

I agree with spencer aswell, if you have a good month then you should do extra marketing to make the next month even better, if you keep doing that you will soon have a rapid growth business on your hands.

ShytKicker

Spencer, I don't think spending money on Google Adwords to market a forum is a good idea.

__________________
Macromedia Coldfusion MX 7 Advanced Certified

borsaid

Am I missing something? Well, first off, I didnt hear any mention of spending money on adwords for this forum. . . and. . .more curiously. . why do you not think it would be a bad idea spending money on adwords for a forum?

Super Mod

I wasn't really talking about marketing this website when I was writing above. I haven't really done any marketing for this website except for paying a few dollars into AdWords. It's true that I've done that. When I speak of marketing I mainly mean with my "real" business, which I put thousands of marketing dollars into each month in offline print ads, online banner advertisements, endorsements, radio, online television, online news, and so forth.

As far as AdWords for forums: it's both good and bad. In past experience, I've calculated that you roughly see about one new member per dollar. In my opinion, that's not such a bad conversion rate.

ShytKicker

Who are you?

I read it in another topic, do your research.


Anyway, Spencer, I guess $1.00 per member isn't too bad actually. 20,000 members for $20,000. You'd make that money back in a heart beat if you'd sell an active forum with 20,000 members. You know what...I think I might try something like this only small scale. Maybe I should make a forum and try putting $500 into Adwords, see what happens.

__________________
Macromedia Coldfusion MX 7 Advanced Certified

borsaid

I am Rob.

And sorry. . .I was responding to this thread. It was reasonable for me to assume that you simply inferred NetBusinessTalk spent money on Adwords. . . considering no mention of that was made. . .in this thread. Hence. . .me obviously "missing something" as I had asked.

Why be rude? I was also asking why you felt adwords would not be appropriate for a forum. . .

Super Mod

No hostility folks.

Back on topic...

Do you set aside money for marketing or do you play it by ear?