It does not matter what type of business you have, online marketing is the key to success and achieving your end goals. Essentially, marketing is going to drive sales for your damage restoration business. But the problem is, it can be difficult to know how much to spend on marketing. That is why we are going to take a look at digital marketing spend for damage restoration companies to ensure you do not go over your budget.
The Importance of Marketing Plans for Restoration Companies
Word of mouth is great. You can slowly spread awareness about your restoration business in your local area. But this only goes so far. At some point, it’s going to stall. This is not negative thinking, it is the reality in a digital world where everything is now online.
This is where modern marketing techniques come in. Being online and having your own website is the best way to market a restoration company and make people want to use your services. This includes everything from running campaigns and utilizing social media to using search engine optimization techniques and lead generation. Ultimately, marketing is how you attract new customers looking for disaster restoration and this means it should be an essential part of your budget each year. However, what should the digital marketing spending for damage restoration companies be?
How to Work out the Digital Marketing Spending for Damage Restoration Companies
In general, businesses get into trouble when they overspend and do not budget properly. You can run into trouble if you do not budget for your marketing strategy, too. This does not mean guessing figures and working spontaneously. You have got to sit down, work out the numbers and think about what you want to achieve this coming year.
First of all, it is important to acknowledge that there is no right answer when it comes to digital marketing spending for damage restoration companies. It is going to be a different number for every company. So, we are going to talk about a general rule of thumb that we think works.
To begin, find out what your gross revenue or estimated revenue for the year is. Normally, we would say aim for spending around five percent of your total revenue on your marketing strategy. This is the ideal number if you are looking to hold your position in the market. This includes maintaining your visibility and brand reputation if you are an established company.
But this percentage will increase if you are ambitious and want to grow your restoration business. You may look to increase this figure to 10 percent of your total revenue. This is going to allow the growth you are looking for with your damage restoration company.
If you are new to the industry and have some money behind you, you can consider increasing this percentage to around 12 to 15 percent. This is going to allow you to spread the word about your new company in the damage restoration industry. You can consider coming from all angles in your marketing plan.
Of course, there are going to be other factors that are going to influence your budget when it comes to damage restoration marketing. For example, you may adjust your budget if you are launching new products or services. This is going to drive the price up as you will want to heavily market those new products or services so that customers know about them.
A natural question you may have is what is the expected return on investment when it comes to social media marketing or a specific marketing campaign. Unfortunately, there is not an easy answer to this question.
Generally, techniques such as SEO for restoration companies and branding strategies will take a long time to see a return. Over time, it can attract new customers to your restoration business and it may be hard to measure at first. Think about it as a marathon and not a sprint. It is true what they say; you have got to spend money in order to make money.
One way that you can increase the chances of return on investment when it comes to marketing is to use a marketing agency for your damage restoration business. At Destiny Marketing Solutions, we have years of experience and know how to promote your business. We can help you distribute your marketing budget effectively to ensure success. You can contact us today.
- Read more about BNI.
- Read more about improve your New Year business plans.
- Read more about omnichannel digital strategy.
- Read more about benefits of damage restoration businesses giving back to the community.
- Read about Damage Restoration Experts Should Prepare for these 2020 Digital Marketing Trends.
- Read about How Damage Restoration Companies Can Market to Fire Departments.
- Read about How Damage Restoration Companies can stay Ahead of the Digital Marketing Evolution Curve.
- Read more about How Damage Restoration Companies can Incorporate Data into their Digital Strategy.
- Read more about restoration SEO.