Did you know that 51% of shoppers surveyed use Google to research their online purchases?
To provide shoppers with the best experience, Google uses various tools to scan the internet and pull the most relevant information.
The businesses that rank on the first page of Google’s results follow a specific digital marketing strategy designed to prove their authenticity, safety, and relevance to the query.
A well-researched digital marketing plan can take a while to design and organize. Whether you decide to hire an expert or hack it yourself, executing a successful campaign can be done on any digital marketing budget.
Creating a digital marketing budget that suits your business is simple when you follow our tips. Read on to learn what you need to know.
What to Do
To create a marketing budget that won’t break the bank, it’s important to know your goals. Decide what you want to accomplish for the quarter or year. It might help to look back on your past results and see which areas performed the best and the worst.
After you’ve determined your digital marketing objectives, consider what specific types of marketing you want to use.
There are a variety of subsets including SEO, content, social media, and video marketing. Look at your goals and figure out which specific service you need to get the results you want.
Once you’ve figured out the direction you want to take, consider the size of your company, project, and expectations. Look at your available resources and see what can be done in-house and what will need to be outsourced.
The average digital marketing budget for small and midsize businesses is between $30,000 and $145,000 per year. It’s recommended you put aside between 7-15% of your total business revenue for a well-planned budget.
When hiring outside of your company, it’s important to do thorough research to find out the average cost for services. Take the information you find online and let that guide you in your process.
Sometimes, researching, building, and executing your campaigns can be too challenging. In times like this, it’s best to find an agency that specializes in digital marketing strategy. These services help businesses increase their revenue, grow their network, and improve their online presence.
When you’ve finished creating your budget and have gotten the ball rolling on a new campaign, remember to evaluate your return on investment.
Evaluate your returns and budget then adjust your campaign strategy accordingly. Keep weekly, monthly, quarterly, and yearly stats so you can stay fully informed on the success of your campaign, and your expenses.
Creating Your Digital Marketing Budget
Now you know all you need to create a digital marketing budget that won’t break the bank.
While creating your budget and executing future campaigns remember your objectives. Budgeting can be overwhelming and if you think you need a little help, call the pros.
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