Milayi Chai
Fall 2024
Budget
Marketing is not free. There is a cost associated to every effective plan. This portion of the marketing project explores the monetary cost of each proposed tactic as well as pubic relations and social media plans.
Every phase of the marketing process can be roughly estimated. This step of the marketing planning process provides valuable insight into the logistical side of marketing.
Budget Table
Tactic
Monthly Cost
$1250.00
Specific Allocation
- TikTok Ads: $500.00 (Promoting posts on TikTok). More Info
- Hootsuite Plan: $99.00 (Managing social media accounts). Details
- Staff Hours: $650.00 (10 hours/week @ $16/hour for managing posts and scheduling ads).
Tactic #1 - Social Media Marketing
Tactic #2 - Creative Design
$700.00
- Graphic Design: $700.00 (Paying a designer $35/hour for 20 hours).
Tactic #3 - Content Marketing
$1200.00
- Videos: $800.00 (Creating and editing video content). Learn More
- Blogs: $200.00 (Paying $100 per blog for 2 blogs/month). See Pricing
- Staff Hours: $200.00 (5 hours/month @ $16/hour for reviewing and editing blog content).
Public Relations
$350.00
- Local Press Release Distribution: $350.00 (Targeting Indianapolis audience).
Tools and Software
$200.00
- Google Analytics: $200.00
(Tracks online visitors and
their actions).