Budgeting for the Web & Online Marketing

16 October 2010, Comments: Comments Off on Budgeting for the Web & Online Marketing

The fall is usually when most firms prep and approve their 2011 budget. This brief article mentions the categories and approximate ranges for some of the categories. Budgets will depend on your brand, reach, and goals.

Your web site and social media (referred to as “the site” from here on out) are your 24/7/365 office. We meet prospects who understand this and those who do not. After talking to them for a while, we get a feel for what the site can actually do for them. If a site and online marketing are not properly budgeted, then they will do nothing for you except allow you to say, “I have a web site.” If you are a WebMedley client, we know this isn’t how you view the web!

Budgeting for the site includes a number of different areas — we’ll call them categories — and they’ll vary according to your business so the ranges below are all over the board. An e-commerce site can complete a sale and needs SSL certificates, merchant processing, and more. Most sites aren’t e-commerce enabled: they help generate leads and provide background information on your company so people can engage with the ever-so-coveted “Tell me more” request.

One big tip: the more people involved in the process, the more expensive it gets.

Site Creation
These categories include:

  • Site design — from $1,500 to $10,000 depending on the scope, revisions, and variations
  • Content creation and navigation planning — could cost a little if you already have the content to a great deal if your site has hundreds of pages
  • Domain names and claiming social media names — generally low cost since its labor plus $10/year for your domain
  • Content Management System set-up and integration with the design — this fee could be labor only or into the thousands of dollars
  • Training — depending on the size and scope of your site, training could be just a few hundred to a few thousand dollars. Generally, its a lower fee.
  • Marketing — you need to tell people you have a new site and why they should care.

These six categories make up the majority of the fees associated with launching a site.

Site Maintenance
Once your site is launched, you need to maintain it just like you’d maintain any other business location: staffed, marketed, supported, etc. Here are the categories for site maintenance.

  • Online Advertising — ad planning, creation, performance analysis, and budget. The ad set-up and management will be between $500/mo to five times that while the budget could be anywhere from $20/day to $1,000/day (generally for e-commerce or large sites). Make sure to analyze the ads and their performance. Otherwise you could be throwing money away.
  • Professional services — Even if you are a very large organization, you’ll need to outsource. These could involve posting content, shooting video, providing consulting on the best way to do things, etc. Most of our clients on a retainer pay between $500 and $5,000 per month for these services.
  • Media rights — more and more clients are employing video and music into their content (as they should!). You’ll need to license content for this. There are some no cost options, but if you want to use songs you know, be prepared to pay.
  • In House costs — don’t forget the time your internal staff will need to work on the site. If you outsourced everything, someone still needs to be your project manager. Integration of your site with all other marketing is important so your project manager needs to know all of these offers.
  • Local Listings — most businesses are familiar with the Yellow Pages. There are now tens of these sites (hundreds for doctors) and they’ll either be free or have a most fee. Find the sites you need (most businesses need about 6-10) and then estimate the fees and labor.
  • The “new services” slush fund — the web changes all the time. You need to have a portion of your budget set aside for any changes in existing services or new services that may impact your bottom line. Lots of new services launch, but you don’t need to worry about them. Pay attention to the big services and those in your industry.

This is a very general budget category listing. If you think about your site goals and needs with these categories in mind, it’ll help you make a better budget than just winging it. If you need help with your budget, just reply to this e-mail and we’ll set-up a meeting to talk about it. We can help you with services outside WebMedley — your other advertising spend, marketing, etc..

Comments are closed.