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How to allocate Digital Marketing budget effectively on Digital Marketing Strategies
The ascent of technology and the consequential growth of digital platforms has brought such a significant shift in consumer habits, that shifting a large share of marketing budget from the traditional channels of marketing into digital platforms has become essential in order to reach the target audience and earning a sizeable Return on Investment (ROI).
Earlier the marketing budget would be divided across the various traditional marketing strategies that broadly fell under print, broadcast, direct mail, and telephone. However, today, though the traditional marketing techniques aren’t completely obsolete, a large shift of marketing strategies and its’ budget has been witnessed to the various digital channels. Today a large portion of the marketing budget is allocated to the various digital platforms, which encompasses SEO/PPC, Google Ads, Facebook, Email Marketing, Video Marketing, etc.
People are now aware of the huge advantages using Digital platforms for marketing but most are unaware as to how to spend the allocated budget on exactly which channels. The digital platforms such as Google ads and Facebook ads are so advanced that they are designed specifically for the development of several types of businesses.
Before allocating the budgets to the various channels, a business has to be very clear about its goals and what exactly it hopes to achieve in the given period of time and budget. The various channels of digital marketing need to be studied to understand which channel is the most suited for the product/service in hand and accordingly, invest strategically in that particular channel.
The question is reasonable, but if you asked a fishing guide how many fish you might catch today, they could only answer the question based on some historical data of current fishing conditions…and your fishing ability. Generating leads is no different; Anyone generating leads on a new marketing campaign would not be able to answer the question accurately without some historical data. Typically with Google Adwords, I can estimate some reasonable numbers based on ad impressions and number of conversions over the first 10-30 days of running a new lead campaign. #leads #leadgenetation #leadgenerator #internetleads #businessleads Furthermore, the number of fish you catch will be based on your ability to set the hook and get the fish into the boat. Likewise, once you hook into a lead, your ability to ask the right questions, qualify, and then close for a meeting will determine how many leads turn into a sale. It’s awesome to limit out on your fish catch just as it is to see a bunch of leads show up in your inbox or CRM, but it doesn’t happen every single day. Be patient, have fun, and enjoy the process of filling your cooler with fish or your inbox with leads.
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