I’m starting a business selling crafting equipment on the internet . Kilns to start then moving elsewhere as I develop products.
I hear you should spend at least 10% of your income on advertising but I’m curious how that changes if you want to grow or depending on the size of your company.
So I guess also any tips on how to keep demand similar to your capabilities
Info: thinking about using mainly google ads or facebooks ads
Thanks for any and all help
How much did you spend on advertising in your first six months?
byu/Fire_Fist-Ace inEntrepreneur
Posted by Fire_Fist-Ace
3 Comments
There is no right set amount, in terms of $ or %.
Some huge companies have never advertised.
If you’re just starting out, the biggest thing is to be smart. Make sure your costs are accurate – factoring in employee time, overhead expenses, and of course advertising.
Try getting as much free as you can, especially via social media. Create accounts on all platforms and post regularly.
Track ad spend. Understand your customer acquisition cost. And back to “be smart”, if that CAC is higher than your projections, raise prices, lower ad spend/get more strategic, or do both.
$1500 facebook ads in 2013 🤑 really should have bought some bitcoin too though loll 😢
I’m only 6 weeks in – I’ve spent $208 on FB ads during this period, and had a bunch of views but very clicks only like 5 site visitors. Like seriously 1.3% click thru rate.
I won’t be renewing this after a decided to run google ads.
I’ve been running Google ads for less than 2 weeks and I’ve had a 5.6% click through rate for the investment of $150 for the month. Plus, today, I had my first seemingly organic customer land on my site, submit an inquiry, and schedule a discovery call. That’s freaking huge.