Hi! Our project is a crowdsourcing marketplace. We are now building our budget in order to estimate how much we should ask investors. We have a good estimation on the operative costs and IT development costs, but we have no clue on how much to spend in Marketing (Adwords + Social Media). Could somebody please help us to know how big this number should be? or at least the range.. 1K/10K/100K per month? Thanks!
Can you access any industry benchmarks on marketing spending for comparable companies? It would help to know, at least, conversion rates and performance during the first year.
I answered a similar question some time ago and wrote the answer on my blog, including a template for the budget.
- (What is a Marketing Budget? http://j.mp/1L9CXaj)
I would be happy to help you with the marketing budget for your project.
- Book a call.