As a promotional product distributor or supplier, your pipeline is everything. You need a steady stream of orders to keep your business going. But how do you make sure you’re reaching potential customers and keeping your current ones engaged? The answer is simple: marketing. And to make sure you’re getting the most out of your marketing efforts, you need to set a detailed marketing budget.
The Importance of Setting a Detailed Marketing Budget
Having a marketing budget is important for any small business, but it’s especially important for promotional product distributors and suppliers. According to the U.S. Small Business Administration, if you are doing less than $5 million a year in sales, you should be spending approximately 7 to 8 percent of your gross revenue on marketing advertising. This may not sound like a lot, but it can add up quickly. And if you don’t have a budget in place, it’s easy to overspend or miss out on opportunities.
Setting a marketing budget allows you to plan and prioritize your marketing efforts. It helps you determine what you can afford to spend on advertising and promotion, and it ensures that you’re allocating your resources in the most effective way possible. Without a budget, it’s easy to get sidetracked by shiny new marketing tools or campaigns that may not be the best fit for your business.
To create a detailed marketing budget, start by reviewing your current spending and revenue. Determine what percentage of your revenue you can realistically allocate to marketing. This will vary depending on your business size and goals. Once you have a budget in place, stick to it as closely as possible, adjusting as needed based on results and changes in your business.
The Affordability of Automating Your Marketing with AMP
Once you have a budget in place, the next step is to make the most of your marketing dollars. That’s where PromoPulse’s AMP comes in. AMP is a fully automated social media and email marketing platform designed specifically for promotional product distributors and suppliers. It helps you simplify your outreach and stay top-of-mind with your customers.
With AMP, you can spend less time sending emails and posting to social media by using automated marketing tools that do the heavy lifting for you. You’ll always be up-to-date on the latest and greatest products that can benefit your customers’ businesses, ensuring that you’re the one they call when they need to place an order.
In addition to saving time, automating your marketing with AMP can also save you money. You’ll reduce your wage/salary costs per marketing hour and minimize the number of hours spent on each email campaign and social media post. Plus, with the ability to link your custom landing page, you can easily build your marketing list and collect new leads.
Calculating Your ROI with PromoPulse’s ROI Calculator
To help you see the full impact of AMP on your business, PromoPulse recently launched an ROI calculator. This tool allows you to input information about your company, marketing costs, and marketing metrics to see the additional sales and money saved each month when you utilize AMP. Let’s walk through these sections!
Inputs
In this first section, About Your Company, you will be instructed to enter some background information to set the base for the calculations:
- Number of Clients
- Average Order Size
In the second section, Marketing Costs, you will be instructed to enter information to determine how much you are currently spending on your marketing efforts:
- Cost Per Hour
- Hours Per Email Campaign
- Hours Per Social Post
Finally, in the Marketing Metrics section, you’ll enter all of the nitty-gritty details of your recent campaigns.
- Email Campaigns Per Month
- Email Open Rate
- Request Rate Per Open
- Email Requests to Order Rate
- Social Platforms
- Social Posts Per Month
- Views Per Social Post
- Request Rate Per Post
- Post Views to Order Rate
Outputs
Now for the metrics we’re all eager to see! In the funnel section, you’ll see the additional monthly orders you can expect, as well as the hours saved each month by automating your social and email marketing. This can help you better understand the value of AMP and how it can save you both time and money.
In the ROI section, you’ll see the dollar amount of additional sales per month, as well as the dollar amount of marketing savings each month. This information can help you determine the overall return on investment for using AMP, which can be a valuable tool for justifying your marketing spend and making informed decisions about your marketing strategy.
By using PromoPulse’s AMP platform, you can automate your social media and email marketing efforts and save both time and money. With its advanced features, such as custom landing pages and email campaigns, you can easily collect new leads and stay top-of-mind with your customers. Plus, with the newly launched ROI calculator, you can better understand the financial benefits of using AMP and make more informed decisions about your marketing budget.
The Bottom Line
Having a detailed marketing budget is essential for promotional product distributors and suppliers looking to keep their pipeline full. By setting clear goals and tracking your marketing spend, you can make more informed decisions about your marketing strategy and achieve greater success. And by using PromoPulse’s AMP platform, you can automate your social media and email marketing efforts, save time and money, and achieve a greater return on investment.
Interested in learning more about all that AMP has to offer? Head to promopulse.io/amp to discover how PromoPulse can help AMPlify your sales in just a matter of minutes!
