In Episode #219, Eric and Neil discuss how much you should spend on marketing when you’re first starting out. Tune in to find out the importance of establishing that budget before you begin and why you need to stick with what works. Time Stamped Show Notes: 
00:27 – Today’s topic: How Much to Spend on Marketing When You’re First Starting
00:54 – Come up with a budget you’re comfortable with when it comes to experimentation
01:20 – “Marketing should be a cash flow positive endeavor”
01:27 – It all comes down to experimentation when you’re starting off
01:59 – Keep doing the experiments until something works and pays off
02:05 – Stop experimenting when you’ve found a channel that’s working
02:17 – Some companies have a 3-year LTV
02:33 – “Experiment until you have a channel that works, then scale up and stop the experimentation once the channel caps”
03:01 – Sean Ellis’  blog post on setting growth experiments
03:09 – Brian Balfour’s blog post
03:22 – Do experiments consistently and track it
03:38 – Set the budget at the beginning
03:52 – You are setting a budget which is a percentage of your growth—you can scale it over time
04:34 – Look at your experiment and company as a whole; what is going to benefit in the long run?
05:05 – That’s it for today’s episode! 3 Key Points: 
Create a budget, at the start, that you’re comfortable spending on experimentation.
Marketing should be a cash flow positive endeavor.
Do experiments consistently and be sure to track it.

Leave some feedback:
What should we talk about next? Please let us know in the comments below.
Did you enjoy this episode? If so, please leave a short review.

Connect with us:
NeilPatel.com
Quick Sprout
Growth Everywhere
Single Grain
Twitter @neilpatel
Twitter @ericosiu



Learn more about your ad choices. Visit megaphone.fm/adchoices

In Episode #219, Eric and Neil discuss how much you should spend on marketing when you’re first starting out. Tune in to find out the importance of establishing that budget before you begin and why you need to stick with what works. Time Stamped Show Notes: <ul> <li>00:27 – Today’s topic: How Much to Spend on Marketing When You’re First Starting
</li> <li>00:54 – Come up with a budget you’re comfortable with when it comes to experimentation</li> <li>01:20 – “Marketing should be a cash flow positive endeavor”</li> <li>01:27 – It all comes down to experimentation when you’re starting off</li> <li>01:59 – Keep doing the experiments until something works and pays off</li> <li>02:05 – Stop experimenting when you’ve found a channel that’s working</li> <li>02:17 – Some companies have a 3-year LTV</li> <li>02:33 – “Experiment until you have a channel that works, then scale up and stop the experimentation once the channel caps”</li> <li>03:01 – Sean Ellis’ <a href="https://growthhackers.com/articles/building-a-process-for-growth-experiments/"> blog post</a> on setting growth experiments</li> <li>03:09 – Brian Balfour’s <a href="http://www.coelevate.com/essays/growth-meeting">blog post</a>
</li> <li>03:22 – Do experiments consistently and track it</li> <li>03:38 – Set the budget at the beginning</li> <li>03:52 – You are setting a budget which is a percentage of your growth—you can scale it over time</li> <li>04:34 – Look at your experiment and company as a whole; what is going to benefit in the long run?</li> <li>05:05 – That’s it for today’s episode!</li> </ul> 3 Key Points: <ol> <li>Create a budget, at the start, that you’re comfortable spending on experimentation.</li> <li>Marketing should be a cash flow positive endeavor.</li> <li>Do experiments consistently and be sure to track it.</li> </ol> Leave some feedback: <ul> <li>What should we talk about next? Please let us know in the comments below.</li> <li>Did you enjoy this episode? If so, please leave a short review.</li> </ul> Connect with us: <ul> <li><a href="http://neilpatel.com/">NeilPatel.com</a></li> <li><a href="https://www.quicksprout.com/">Quick Sprout</a></li> <li><a href="http://growtheverywhere.com/">Growth Everywhere</a></li> <li><a href="http://www.singlegrain.com/">Single Grain</a></li> <li><a href="https://twitter.com/neilpatel">Twitter @neilpatel</a></li> <li><a href="https://twitter.com/ericosiu">Twitter @ericosiu</a></li> </ul> Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices">megaphone.fm/adchoices</a>

Neil Patel and Eric Siu bring you daily ACTIONABLE digital marketing lessons that they've learned through years of being in the trenches. Whether you have a new website or you're an established business, you'll learn the latest SEO, content marketing, social media, email marketing, conversion optimization and general online marketing strategies that work today from people that actually practice marketing and operate businesses.
Approaching 100M downloads with 2,500+ episodes, you're sure to find something that will help you grow faster. Also don't forget to subscribe to our Marketing School YouTube channel to get more marketing goodness.

Marketing School - Digital Marketing and Online Marketing Tips

In Episode #219, Eric and Neil discuss how much you should spend on marketing when you’re first starting out. Tune in to find out the importance of establishing that budget before you begin and why you need to stick with what works. Time Stamped...

How Much to Spend on Marketing When You’re First Starting | Ep. #219

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/f9bb5ce1-5ceb-457b-921e-b0d2007d4075/transcript

Advertisement