As a freelance writer, new clients are your lifeblood. The more gigs you land the more money you will earn. Pretty simple, right? Your marketing plan is going to determine how much success you have in this area of your business.
While true that some marketing strategies are free, others are going to set you back a few dollars from time to time. This leads to one very important question: how much is too much to spend on marketing related tasks?
My best advice is to set a monthly budget for marketing expenses. This gives you a “set” amount of money to spend, month after month, allowing you to see what does and does not work while hopefully landing some new clients along the way.
No two months will be the same, but your goal should be to earn more through your marketing methods than you are paying out. For example, if you spend $500/month on marketing you want to receive at least this much in new business.
It is one thing to spend money on marketing. It is another thing entirely to do so in a smart and efficient manner. In other words, don’t spend just to spend. Have an idea of what you are doing and what will give you the best chance of success.
Are you tracking every dollar that you spend on marketing? You need to know where all your money is going. Maybe you spent money on a direct mail campaign. Maybe you purchased online advertising. No matter what it may be, chart your spending and results to improve your chance of success in the future.
How much you spend on marketing will be based on the finances of your business and what you are comfortable with. If nothing else, start small and see where it takes you.