“So how much do you think I should spend on marketing?”
This is one of the most common questions that I receive during the initial SEO consultation with small business owners. It underlines a serious problem that many businesses have—how to acquire new customers and how much to spend in order to do so.
The common rule of thumb of dedicating 5% of your revenue to marketing purposes is quite unusable when accounting for wild variations in marketing spends from industry to industry.
