Google Ads (Display and Search)
Google Ads is a powerful platform that allows you to target potential customers through both search and display advertising. In New Zealand, it's one of the most effective ways to reach your target audience online.
Search Advertising:
We firmly believe this is a high priority platform. Nowadays, people spend a good chunk of their time online, searching for all sorts of things. So, it's crucial to be there, especially if you're dealing with products like electronics, clothing, or home goods that folks are actively looking for, or local restaurants, salons, and professional services.
For small to medium-sized businesses, a monthly budget of $1,000 to $3,000 is a good starting point. This budget can help you capture relevant search traffic and compete effectively in popular keywords. Larger businesses with more resources may allocate higher budgets, ranging from $5,000 to $10,000 or more.
Display Advertising:
Display advertising on Google can be cost-effective, and a great way for a product that has a visual aspect like fashion, travel or home decor. A budget of $500 to $1,500 per month is a reasonable starting point. The key here is creating visually appealing ads that grab users' attention and designing effective ad campaigns.
Social Media
Social media platforms have become an integral part of marketing, especially in order to create meaningful connections and conversations with your community. The right budget depends on the platform, your target audience, and your objectives. Here's a rough breakdown:
Facebook:
For small businesses, a monthly budget of $500 to $1,500 is a good place to start. Sitting at the $500 mark could just be boosting posts, which helps them get more traction. Moving up to $1,500 could see you boosting posts and creating ads. Larger businesses with more extensive reach can allocate budgets between $2,000 to $5,000 and beyond.
Instagram:
Instagram advertising can complement Facebook campaigns. A budget of $300 to $800 per month is a good starting point. However if you’re offering a product that is highly popular on Instagram, e.g. fashion, beauty, photography, experiences, travel, and hospitality, definitely increase the budget for this platform.
LinkedIn:
For B2B businesses, LinkedIn can be highly effective. It is quite an expensive platform, however when it works it really works, so definitely worth a look if it aligns with your business. B2B products and services, such as software, consulting, and professional development go really well on this platform. Budgets may vary but start at around $2,000 per month.
Radio Advertising
Radio remains a prominent advertising platform in New Zealand, especially for local businesses. Radio advertising costs depend on factors like time slots, frequency, and the station's popularity. As a rough estimate:
Local stations:
A monthly budget of $1,000 to $5,000 is typical for local radio ads.
National stations:
For broader reach, national stations may require budgets ranging from $5,000 to $15,000 or more.
Trade Shows and Events
Depending on your industry, participating in trade shows and events can be effective. Budgets can vary, but you might allocate $3,000 to $10,000 or more per event. This could just be one event that you really show up at, like Fieldays, or a couple of smaller events.
Content Marketing
Creating quality content for your website, blog, or social media is essential. Allocate resources for content creation and distribution if you don’t have the skill sets in house. This might range from $500 to $2,000 per month or more. We can’t tell you enough how much we recommend this platform!
Influencer Marketing
Collaborating with local influencers can have impressive results. Influencer fees vary significantly, so budgeting will depend on the influencer's reach and relevance to your target audience.
Setting the right marketing budget involves a careful consideration of your business size, goals, and the platforms that align with your target audience. Start with a clear understanding of your objectives, and adjust your budgets based on the performance of each platform. Remember that marketing budgets should be flexible and adaptable to changing market conditions. Regularly analyse and adjust your strategies to ensure the best results and a strong return on investment.
Our Marketing Teams offer an affordable, effective way to manage and report on your marketing spend. Learn more about how we can help here.
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