Plan an Effective Digital Marketing Budget for 2020

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People have internet and smartphones in their hands. Everything in this world is now connected through the internet. So we need to use digital marketing to approach people online through the internet. If you are searching for a digital marketing agency, you can search on google by using the keyword  “digital marketing agency near me”.

Digital marketing is one of the most effective types of marketing. Email, social media, content marketing, search engine optimization – all of these strategies are used to gain success in 2020.

According to 20/20 Vision: A Marketing Leader’s View of Digital’s Future report, 95% of these organizations have raised their digital marketing budget in recent years, and 9 in every 10 marketers expect their budget to grow in 2020.

Here are some suggestions you can follow while allocating your budget.

Set the Goal

The first step in figuring out a digital marketing budget is fixing a clear, concrete goal or goals. You need to decide what exactly you want. Do you want to boost your brand awareness? Create more brand loyalty? Or are you interested in increasing your sales only?

All these different goals need different strategical planning, so decide your goals and to set your budget accordingly.

Audit the Past

The second step is to analyze your past results to verify which methods have worked and which haven’t. You need to analyze the success or failure methods as well to know why it has worked and if it will work again, and if it hasn’t, then why it hasn’t. Then you can move on to the next step.

Evaluate Your Options

study from Hook has listed out marketers’ biggest inbound marketing priorities for 2020. It shows SEO and content marketing are at the top of the list for most marketers. 

While evaluating the options, you need to keep in mind your marketing goals, business objectives, and past results for each of these tactics.

Allocate Your Budget

It’s recommended that your marketing budget should be between 7% to 15%of your total business revenue, but the best spot is around 9-10%.

Once you are done fixing your budget and listing your marketing strategies this year, start allocating that budget to the various tactics.

Monitor Your Results

Digital marketing shows you instant results; you don’t have to wait for months to see the results finally. With the proper analytics software, you can get the results you desire and begin monitoring your planning effectiveness. You can even make adjustments if needed any.

As always, well planning and well executing of the plan can get you the taste of success.



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