Budget is the key to any business. Where to spend and how much to spend are the most important questions we must ask ourselves. “Digital Marketing has become mandatory to achieve success for any business.” So, now comes the biggest question. How to create a successful Digital Marketing Budget? How much to spend on which platforms. Which is the best investment for your business? So how do we begin?
Firstly, we must know that Digital Marketing works on different platforms for different industries. But it doesn’t mean you concentrate only on one platform and ignore the rest. It’s always good to make investments on all platforms like SEO, Social Media, and Content Marketing. You must know which platform you need to emphasize more than the other.
(1) Ecommerce websites benefit mostly from social media postings. For Ecommerce industries, you need great content on your social media pages to get people to your website. Make sure you post attractive designs with quality content.
For example: If you check Myntra’s Facebook page, you can get inspired. They do a variety of attractive design posts and connect to the target audience. They ask questions, post videos, and make quotations related to fashion!
(2) Service industries benefit more from online reviews.
For example: Many people check restaurants online and having good reviews on Zomato can be a big plus for your restaurant!
Secondly, you must know your Target Audience. An important growth hack for businesses is <“Knoweth what thy customer wants. Knoweth where thy customer resides. Knoweth the language of thy customer”
Do you sell to businesses or do you sell to customers directly? If you sell to other businesses, SEO works the best for you. If you are targeting customers, social media and blogs work the best for you. Invest according to your target audience type.
Thirdly, make use of technology! There are many tools online that can help you plan and calculate your budget.
Here is a tool that helps you: https://www.leadgenix.com/digital-marketing-budget-calculator/
Finally, never stop traditional marketing altogether! Although it is the digital age, don’t completely ignore advertising on print media, television or outdoor media. “You can always find smart ways to connect traditional and digital marketing and obtain maximum results.” You always see big companies doing both, don’t you?
For more knowledge on Digital Marketing, you can take an Advanced Digital Marketing Course.