When businesses move to selling items online they know that they are going to have to spend money on marketing, but they might not have a good idea of how much that will cost.
Using too little money can result in not selling as much, and spending too much money is simply a waste. In addition, using money for the wrong kinds of marketing is also a waste.
When a business first creates a marketing budget they need to consider the amount of money they are going to spend when they launch the website, and then how much money they are going to spend in order to maintain their marketing program. A business should consider such things as the cost of buying domains, advertising space with Google, and the cost of generating content for a site.
A business should be able to come up with a single number, which can be used to determine if the marketing plan is too large or small. Most businesses will be able to determine this by comparing it to the other costs such as the amount of money they expect the website to make. Generally, it is good for a business to spend a small amount of money on basic tasks, and then invest more money as the site grows. This will allow the business to tailor their advertising budget to the real value of the site and marketing. The money that a business spends monthly on marketing should include the cost of hiring a marketing professional, the cost of buying ad space, deals such as coupons and sales, and generating SEO content for the site itself.