A financial plan for advertising your ads would depend on your willingness to spend each day. In case you have a new business and planning to advertise online then the best option is to start with a small amount which you can probably afford and analyze the results for your campaign and increase your budget according to the performance of your accounts.
If you have decided your budget on a monthly basis then calculate your daily budget by dividing it by 30.4 (average number of days in a month), but you obviously knew that right? If not than I’ll give an example if you have a monthly budget of say $4000 then your per day budget would be 4000/30.4= $130 (approx.). I assumed $4000 as the monthly budget as according to an analysis done by The Content Factory the industry average comes out to be in between $4000 to $7000.
A company which is already set up and wants to enter into the digital marketing world can put around 30% of their annual marketing budget into digital marketing. Trade associations and various corporate publications can help you in knowing the industry average spending on digital advertisements.
Spending on your Ads is just a part of the total cost involved in marketing as you would also need to create video, graphic or pictorial ad for marketing on any social media site like Instagram, Facebook or even YouTube for that matter. Getting your ad being noticed by users involves a lot of creativity so that people get tempted to click on your ad especially if its a search ad then you need to choose the keywords intelligently After your ad is online, comes the task of tracking the same whether it is doing good or not and what modifications need to be done to attract more users.
