Kristin Marquet said her company spends about $30,000 a year on marketing campaigns, tools and outsourcing, which equates to about $7,500 a quarter. Behind that marketing budget is two brands: Marquet Media – a branding and design consultancy that offers branding, web design and PR services – and Fem Founder, a media company that publishes content on entrepreneurship and marketing for female entrepreneurs. Marquet also sells digital products on the website out of New York City, where she is based. A main marketing channel she uses is Pinterest, building email lists for her digital products and courses.
Marquet is clear on her profit margins, as all marketers should be. “For every dollar invested in promoted pins [on Pinterest], I generate about $1.30 in revenue. I also invest in email marketing software, which is about $600 a month. I use Leadpages for landing page software to capture leads, which is about $30 a month, and social media automation, which is about $79 a month.”
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Like many business owners, Marquet was unsure of marketing ROI when she started her businesses, so she was a little nervous about allocating any budget. She started off with a $500 budget and tested Google and Facebook ads, but she learned those places are not where her target customers spend the most time; they are very active on Pinterest instead.
Based on her experience, Marquet thinks any business should allocate at least 10% of its gross revenue for marketing and advertising, but 12% is best if it has the ability to invest this much.