In episode #668, Eric and Neil break down their marketing dollars. Tune in to hear what the biggest marketing costs are and how you can avoid overspending.

TIME-STAMPED SHOW NOTES:

• [00:27] Today’s Topic: Where do Neil and Eric Spend Their Marketing Dollars?
• [00:51] Eric spends about $10,000-$15,000/month on blog content.
• [01:12] Neil spends about $4,500/month on video content.
• [01:24] Podcasting costs Eric and Neil $700/month each.
• [01:40] They spend the same on video content.
• [01:48] Eric’s team just starting ramping up/retargeting their ads and spent $3000-$4000.
• [01:54] Neil spends most of his money on making and giving away free tools, which costs around $80,000/month.
• [02:12] Building tools takes up a lot of time.
• [02:20] Neil’s team found it is cheaper to buy out other companies than to spend money on marketing.
• [02:50] Building free tools gets you organic traffic.
• [03:02] If they were to add in salaries, that would only add an additional $25,000 to the mix.
• [03:15] Neil’s numbers include salaries in his estimation.
• [03:33] Editing blogs costs about $2000/month, but Neil doesn’t pay for translations.
• [03:52] If you build up brand equity, you can get a lot of work for free.
• [04:10] One strategy for people with a minimal amount of capital: find people to partner with. You will get stuff for free and both of you will gain a new audience.
• [04:35] Guest posts are really helpful.
• [05:28] That’s it for today!
• [05:32] Go to Singlegrain.com/Giveway for a special marketing tool giveaway!

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