Denis Homez

How much would be our budget to advertise our webplatform?

 

How much would be the budget to advertise our web-platform homez.design the site is marketplace where people can find required service contractors and prod suppliers to theirs make home better Can u give 3 scenarios min, aver, max and what kind of audience we can reach with ur approach & strategy I would appreciate your helpCheers, Denisc, CEO+64212355050

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3 Answers

Steve Osborne

Steve Osborne , director at Smarthinking

Hi Denis

This is not the answer you're looking for, because you're asking the wrong question.

At this point in time, no-one but you knows your audience, competitors, circumstances, experience and expectations.

I think you should be asking (yourself): where will I get the most return on a budget of $X, given my target markets of Y and Z?

Because if you're thinking of competing head-on with the likes of ServiceSeeking, Hipages et al, X is going to be a large number.

I suggest you engage the services of a marketing consultant to help you work out your business positioning and marketing strategy.

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Lucy Cook

Lucy Cook , Solopreneur at Lucy Cook

Hi Denis,

The question you need to delve down first is: What is your main goal for advertising?

Is it for Brand Awareness, Lead Generation for Opt-in Newsletters, Lead Conversion, etc.

Once you have a finalized answer for that then you need to consider the platforms you'll use for advertisement, what is applicable for your target market - factors to consider would be the behavior of your ideal client's demographics- Where they are at? What time are they usually online or busy?

Lastly, you'd need to start benchmarking, there is no definite amount for specific results yet, all you need to do is test first and see which ad creative or strategy works best for your product , then stick with it for some time as long as it is still performing.

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John Eustace

John Eustace , Principal / Communications and Media Strategist at Bells and Whistles Marketing Pty Ltd

Some sound advice here already Denis. The “How much” question you ask is being applied to an expense item ‘advertising, when it can only have any context when you first apply it to the revenue side or your business model. ‘How much’ will your enterprise need to generate as turnover and profit. Only when this has a quantified value can you define a reasonable and effective budget to achieve your projected return.

There are dozens if services similar to your brief description popping up every month so it is a crowded market and effective differentiation is paramount if you are to heard above the increasing promotional noise.

I have visited your website and whilst interesting looking the navigation is far too confusing for most casual browsers To extend your reach and appeal there is some platform restructuring I would recommend prior to considering any advertising expenditure.

Ben Schwarz

Ben Schwarz ,

Great advice there John!
Great advice there John!
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