There is no marketing budget divorced from context. Indeed, the context is crucial. What objectives? What perception gaps do you need to fill compared to your competitors? It is essential to establish a starting point but also to define the key indicators to measure performance. 1) Set a goal This means tracking the brand's priorities and understanding what the main objectives are. If these are not clear, it will be impossible to achieve them. Typically, companies focus primarily on brand awareness and sales, followed by follower growth, social engagement, content sharing, buyer conversion and customer loyalty.
If your brand, for example, struggles to convert audiences into customers, it's a good idea to shift marketing dollars to conversion optimization. 2) Evaluate previous campaigns Before looking forward it is right to check what has already been done before. Counting the money invested in each marketing channel and checking how successful the web designs and development service campaigns have been will help you evaluate your new budget. Looking at the past can help understand where it is best to reinvest money and where not and which sectors produced more and which less. 3) Do research and scouting To know in which channels the marketing implemented will be most successful, you must first study digital marketing.
The main areas on which to focus your research are: Competitive analysis. Finding out where your competitors have invested the majority of their budget can help you better channel your funds The keywords. Check which ones get the best results Audience traffic analysis. Find out where your audience goes and how much ads cost on the websites they visit The influencers. Search for influencers relevant to your brand and see how much it would cost to work with them Content costs. See if there is anyone in the company who can handle content creation or how much it would cost you to hire someone to do it 4) Find out how much you can spend.
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