You want your business to succeed in 2019? You’ll need a diverse digital marketing strategy.
Remarkably 77% of Americans are online every day, consuming content differently so it’s imperative to have a strong digital presence.
Therefore the only way to stay in the game is to allocate a realistic marketing budget towards a variety of digital strategies.
The right digital choice, what to look for?
It’s safe to say that digital marketing is a crucial component for your business but not all digital marketing channels will work for every business.
What to consider when planning your digital marketing strategy:
- Realistic budget.
- How much to spend on digital marketing.
- 2019 Top 3 digital marketing channels.
Why is it important to set a realistic marketing budget?
Business owners work on building an identity, a product, a service but underestimate the importance of setting a realistic marketing budget.
We’ve all heard the phrase, “You have to spend money to make money” yet many businesses tend to under spend on marketing, thinking that by not spending they are saving.
And that’s your biggest mistake, by not spending on marketing, you are missing out on an enormous amount of business!!!
The average business is spending 35% of their marketing budget on digital marketing channel. But in reality, that’s not enough. It’s no wonder the average business is stuck in the past.
How much should you spend on a digital marketing channels?
Be bold, be ahead of the curve, and shoot for half of your marketing budget to be put towards digital.
According to the U.S. Small Business Administration, they’ve suggested a minimum of 7% of your gross revenue should be spent on marketing and 50% of that marketing budget should be dedicated to digital channels.
Let’s say your business makes $2 million in revenue.
If you allocate 7% of your revenue to marketing, you have $140,000 to work with. Which gives your digital marketing budget $70,000 to work with.
Top 3 affordable and effective marketing channels:
Forward-thinking entrepreneurs are investing on a diverse digital marketing strategy allocating their budget across a variety of digital marketing channels and platforms.
These are my top 3 digital marketing channels.
- Influencer marketing
- Content marketing
- Email marketing
Influencer marketing, is word of mouth.
Recent studies indicates digital ads are a thing of the past and Influencer marketing actually works. Because people trust people who they know.
With more than 1 billion monthly active user, Influencers who are active on Instagram deliver an effective digital marketing channel.
Influencer marketing is your secret against your competitors.
Content marketing is focused on creating and distributing valuable, relevant, and consistent content to attract and retain an audience and driving customer to your business.
Influencer marketing is an effective and affordable tool for distributing content and increasing your brand presence directly to your consumers.
Email marketing continues to be one of the simplest and an effective method to market your business.
When budgeting an email marketing strategy consider paying for a subscription service like Mailchimp to achieve better results.
Finally, before you choose where to spend your digital marketing budget, do your research see what’s available in the marketing platforms industry. With the rise of automated solutions and on demand services there are many affordable and effective options for all business size and budget.