You can just spend your way to success, can’t you? Paid digital marketing can be a massive drain on a company’s budget when it’s executed without an informed strategy in place. Especially in today’s market, there are so many opinions, anecdotes, and smoke screens telling you how you should run your digital marketing. In fact, there is probably an ad in your social media feed right now offering to sell you the silver bullet which will give you guaranteed results. While there may be some merit to the strategies you’re being sold, they will never be as valuable as knowing what to do, when, for your own product or service.
We may be over a decade into digital marketing being an extremely viable way to give your business exposure, but businesses are still very much trying to adapt. How much do I spend? How do I allocate my marketing budgets across the different channels? How do I know what my returns should be? There are so many questions to be answered, and almost all of them start with your budget. Ross Denny, Ezzey President and Co-Founder recently spoke to MarketingProfs about how to budget strategically for your digital marketing campaigns.
“Although you do need to spend money on digital marketing campaigns to make them effective, you can’t keep all your eggs in one basket and expect to see returns. You have to invest in the right areas, such as digital marketing infrastructure. Implementing proper business planning, projections, data dashboards, and expectations will make success more likely.
Unfortunately, too few marketers concern themselves with developing realistic projections and goals to help them dominate the market in the next 1-10 years. Instead, marketers tend to just spend what they have without a plan for success in place.”
Read the full article here.
In many ways planning your marketing campaigns is almost more valuable than executing them. Doing the research on what’s working or not for your competitors, what average CPCs are in your industry, and most importantly, how to not only gain new customers but to also continue to engage your current audience can save you a massive amount of budget when you start to execute. You can be spending efficiently and reserving for new opportunities when you budget strategically.
The Ezzey team are experts in helping businesses create achievable goals and sustained growth with almost any budget. If you’re looking for a partner in taking your digital marketing to the next level, contact us today!