According to the SBA it is recommended that 7-8% of a businesses total sales be invested on marketing. There is a reason why Facebook and Google are valued at $600 Billion and $950 Billion respectively. Most of their revenue is from advertising. Nothing works better than advertising on these two platforms or they wouldn’t be two of the worlds largest corporations.
If the average a successful yoga studio does about $14,000 monthly. This is according to Zen Planner who did a study. That means that a minimum marketing budget of at least $1120 month is required to be financially successful. The most profitable studios spend on average $2800 month of marketing and see monthly profits on average $13,495.
Take a look at the industry data from the 2017 Zen Planner report.
We recommend starting with a $5 – $20 per day budget on Facebook.
Google Ads depend on your market and available search volume. Costs per click also depend on the number of competitors who are also buying advertising and this can fluctuate from week to week. Google ad buys can be as low as $100 per month but generally average $500 per month.
This is one of the most important aspects of any advertising campaign. You want to make sure that you hit interested visitors more than once. A successful remarking campaign increases the conversion rate by 40%. We generally recommend $10 per day be dedicated to remarking. Depending on the traffic volume to your website you might spend all of this. The goal is to be getting enough visitors daily to spend that money. With more traffic comes more sales. More sales equal more revenue and profitability.