How to Allocate a Digital Marketing Budget
The Digital marketing is a real growth factor for business.
Marketing is no longer considered to be an accessory, but is instead an important factor in business growth, an increasing share of the global marketing budget shifts to digital.
Within this trend, there are two important points:
- Marketing budgets are increasing overall.
- The budget devoted to digital is growing at the expense of traditional advertising channels.
Prospect buying behavior has changed.
Whatever the sector, your prospects are accustomed to informing themselves on the Internet. To attract and motivate them, it is therefore essential to be present, with relevant content wherever they go on the Web.
Digital is highly effective in attracting prospects because it enables businesses, through different channels, to reach thousands of people with the same message, while sales representatives can only contact their prospects one by one!
Marketing and automation technologies are essential to taking advantage of the most effective marketing tactics (email marketing, SEO, social network marketing). When they are well orchestrated, they make it possible to measure and analyze results, in order to refine the strategy to measure them in order to refine the strategy… But these activities represent a significant cost, which is only increasing.
Thus, planning a marketing budget is a good way to optimize your digital marketing strategy.
The 3 Components of Your Online Marketing Budget
1 – Produce Quality Content
To deploy a digital strategy, you will need communication and marketing elements such as a website, an application, social network accounts, blog articles, white papers, customer testimonials, videos, images, computer graphics, contests, contact forms, landing pages… and especially high added value content.
2- Find Marketing Skills
You won’t ever find all the skills you need in one person, unless they’re a five-legged sheep!
Above all, you will have to think outside the box, avoid subjects with commercial content and even those too close to your company, and focus on your target and, its interests, reaching out it on a daily basis with regular, high quality content that does not appear to be self-promotional.
Many things can be outsourced: content delivery, setting up your lead nurturing program, managing your email communications, partnering with bloggers and, most importantly, the tools that can save you a lot of time.
3- Leverage Marketing Techniques
The totally free Internet is a thing of the past! You will waste a lot of time and energy if you do not use complementary marketing tools.
With this software and the techniques everyone is talking about (SEO, SEA, employee advocacy, marketing automation), it is possible to automate a large number of tasks, and to automatically trigger complex actions, such as sending an email, at the right time, with the right content, to the right person.
Almost everyone is aware that the Web is no longer an option, and that it costs money if you want to be known. We must now focus on questions of
– How much to invest
– The different types of marketing costs
– The different economic models
– What is behind the cost per click.
You can find a bit more on this topic, the planning of a marketing budget through Excel, here.