Once you have decided to advance your digital marketing efforts, and let’s be honest, you need to have a clear digital marketing strategy to increase your market share and sales, you may wonder where to begin or how much to spend to see results.
If you are going to invest money into digital marketing, you’ve got to have a plan for getting a return from that investment! If you’re not watching the data on Google Analytics and other resources, then you might as well throw money away because you need data in order to see, or measure, your return.
So how do you determine how much to spend and what to spend it on?
A good digital marketing budget is going to take into account your company and your goals. There is no one-size-fits-all for a good digital marketing budget. You need to ask questions like:
- How big is your company?
- What your total gross revenue in year? A company of ten people is most likely going to have a different budget and strategy than a company of one hundred people.
- Are you a new business looking for traction or are you established and looking to reach the next level?
- Do you already have a fantastic website, good content and social media presence? Do you need to invest in experts and authorities to upgrade your design, content and social platforms?
- What are your specific priorities and goals?
Know Your Trends
A successful digital marketing budget will incorporate trends for the year – how can you effectively manage your people, platforms, and assets to achieve the best results? Once you understand the most useful trends, your concrete goals and priorities can help you determine your budget for social media, AdWords, email marketing, events and more. Remember a little goes a long way – if you understand how to use it!
Track Your Results
Once you have created your digital marketing budget and begin to implement your strategies – you need to track your results. Analysis of your traffic generation, conversions, and revenue will help you fine-tune what is working and how to better allocate expenses as you continue to grow.
At Intuitive Websites, our team is comprised of experts to help you create a customized digital marketing strategy from initial design to in-depth analysis of your results. For more information on how our team can help you set an effective marketing budget and achieve the results you want, contact us today.