In episode #668, Eric and Neil break down their marketing dollars. Tune in to hear what the biggest marketing costs are and how you can avoid overspending. TIME-STAMPED SHOW NOTES: [00:27] Today’s Topic: Where do Neil and Eric Spend Their Marketing Dollars? [00:51] Eric spends about $10,000-$15,000/month on blog content. [01:12] Neil spends about $4,500/month on video content. [01:24] Podcasting costs Eric and Neil $700/month each. [01:40] They spend the same on video content. [01:48] Eric’s team just starting ramping up/retargeting their ads and spent $3000-$4000. [01:54] Neil spends most of his money on making and giving away free tools, which costs around $80,000/month. [02:12] Building tools takes up a lot of time. [02:20] Neil’s team found it is cheaper to buy out other companies than to spend money on marketing. [02:50] Building free tools gets you organic traffic. [03:02] If they were to add in salaries, that would only add an additional $25,000 to the mix. [03:15] Neil’s numbers include salaries in his estimation. [03:33] Editing blogs costs about $2000/month, but Neil doesn’t pay for translations. [03:52] If you build up brand equity, you can get a lot of work for free. [04:10] One strategy for people with a minimal amount of capital: find people to partner with. You will get stuff for free and both of you will gain a new audience. [04:35] Guest posts are really helpful. [05:28] That’s it for today! [05:32] Go to Singlegrain.com/Giveway for a special marketing tool giveaway! Leave some feedback: What should we talk about next? Please let us know in the comments below. Did you enjoy this episode? If so, please leave a short review. Connect with us: NeilPatel.com Quick Sprout Growth Everywhere Single Grain Twitter @neilpatel Twitter @ericosiu Learn more about your ad choices. Visit megaphone.fm/adchoices See omnystudio.com/listener for privacy information.