Top companies use 12% of their revenue towards marketing spend with up to 7% towards Digital . Find out how much you should spend on digital marketing?
Google Keyword Planner tool will tell you the search volume for your industry specific keywords. Focus on the most relevant ones in a given geography.
Now take av. CTR of 5% to get the number of clicks and multiple the number by the higher CPC provided by Google. This is your MAXIMUM budget for Generic Campaign.
Repeat process for Brand, Competitor and "Near Me" KWs with av. CTR of 15%, 3% & 5% resp.
Sum of all the above is your maximum ideal budget for Google Search
The story for Display & Social is a bit different as these channels are CPM based. Here you need to divide your budget into two parts based on your goals - Awareness & Retargeting
Aim for 70% (new business) or 10% (established business) of total website traffic to be from these channels and consider av CTR of 0.2% on Display & 0.5% on Social. Now you have the total number of impressions you need for this traffic.
Av CPM for Google Display, FB/IG Feed, IG Story & LinkedIn are $6, $12, $20 and $25 respectively (US Market). This should give you your Awareness budget.
For Retargeting - Find your av website visitor count over one week. Plan to show at least 10 impressions per user per week. Now again repeat the above steps to find budget
