Health Tech Marketing Budget
To determine the typical marketing budget for a health tech company in its infancy. The information will be used to inform financial modeling for a company selling ovulation tests.
Budgeting for Health Tech Startups
- One source suggests that 4-8% of the annual revenue should be allocated to marketing. At least 25% of this figure should be allocated to inbound marketing.
- B2C startups tend to allocate more of their annual revenue to marketing, with some experts suggesting up to 16.9% of annual revenue should go to marketing.
- Another expert recommends, companies in the first 1-5 years of business should allocate 12-20% of their gross revenue to marketing. Established companies should allocate between 1-10% of their gross revenue to marketing.
- Branding can cost between $4,000–5,000, if completed by a small external agency. It is money well-spent with this contributing to the companies first impression.
- Setting up a website will generally cost between $3,500-$5,000.
- Social media spending can be minimized by doing it in-house. If an external agency handles it, expect to pay between $1,000-$2,500 per month.
- Full-scale advertising, which includes print, social media posts, outdoor, digital, and pay per click, will cost approximately $3,000 per month.
- An outbound company will typically spend $346 per lead, while an inbound company will spend $135 per lead.
- There is limited information available publicly regarding what health tech startups allocate for marketing and how they use it. The likely reason for this is the information is commercially sensitive and not available publicly.
- No information was available that specifically related to fertility type companies. While there was some information regarding health tech marketing, most of the information related to startups in general. There was some information about health startups.
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