marketing budget price

Determining a Digital Marketing Budget

One of the most important decisions for a business is how much to spend on its digital marketing efforts. Most companies start at a disadvantage and must catch up to the competition. Marketing tactics should always work in the favor of a business and not against it, which is why hiring the Internet Marketing Phoenix firm turns to for results is so important. The following explains how and on what marketing dollars should be spent.

How Much Should Be Spent?

All marketing should produce a return on investment (ROI) regardless of the actual impact it makes. A digital marketing company will help create a campaign that is the right fit for a business while tracking goals to ensure growth and success in the digital space. It is best to start with knowing exactly what the needs are and what the end result should be.

Finding the Factors That Matter

digital marketing costAll businesses and markets vary from one another. One company may be in a niche that is highly competitive, but the overall market is less so. The reverse can also be true. The following guideline identifies where money should be invested and what to pull back on:

  • See what is working for the competition and emulate it
  • Build on the emulation to improve it
  • Test these factors in varying market channels to gauge customer response
  • Continue investment in what is working and getting rid of what falls short

A digital marketing agency can point out the actions of the competition and how it can be improved. At this point, a business will know where to spend its marketing budget and choose the right projects to meet its end goals.

Where a Marketing Budget Should Be Spent

The following list outlines how marketing dollars should be spent, according to internet marketing Phoenix experts:

marketing componentsA website. A company website is where visitors and potential customers get a first impression of a business, its branding and its reputation. If the site is outdated, unattractive and dysfunctional, it will drive away traffic. A modern, responsive website is the top priority.

Content marketing. A business website is only as effective as the content that is posted on it. This content acts as a tool to convert visitors to customers. Content that is developed for the website can be repurposed for email marketing and social media posts, making it even more effective.

Pay-per-click. Also known as PPC, these are ads that appear in search engine results to encourage visits, or click-throughs, to a website. All businesses should use PPC because it is likely the competition is already doing it. It is better to be first than last when it comes to converting search users into customers.

Reputation management. With Google valuing brand awareness, trust and authority, it is more important than ever to monitor what people are saying about a company or brand. Reputation management is also helpful for staying at the top of organic local search listings to keep ahead of competitors.

Video. This medium is effective for advertising campaigns to boost sales and show customers why that company is the best choice for their needs. Currently, internet users are watching 15 hours of video every week, and it is estimated that by 2021, 82 percent of all web traffic will be video related. Not using video is a waste of marketing dollars.

Search engine optimization (SEO). The ultimate goal is to be at the top of Google search results because it holds over 70 percent of the search engine market. Having effective SEO is the only way to compete in the digital marketplace. A continuous investment in quality SEO brings growth and lead generation.

Social Media Marketing

social media marketingSocial media marketing is an area where a business needs to tread carefully before moving forward. It requires a great deal of research to target the correct demographic. How well it works depends on the particular industry. In some cases, creating profiles to lock in the company name is enough, while others have to focus efforts across several platforms for brand building. It should be noted that social media is often where unhappy customers go to complain, so it should always be monitored even if the company is not very active.

When it comes to the internet marketing Phoenix trusts, the Internet Marketing Team delivers. Visit the website or call 888-518-3718 for more information.

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