You’re excited by the new technologies and channels that can help your business on the marketing front in 2019. The question is, how much should you truly be spending on online marketing?
Research conducted in late 2018 showed that one-third of participants increased their content marketing spending from 2017 to 2018. Meanwhile, 53% spent the same amount, and just 8% spending less.
Digital marketing strategies are essential to the success of any modern business. So, it’s critical that you’re pouring enough money into this area.
Here’s how much of your advertising budget you should allocate toward digital this year.
Let’s get started!
Evaluate Your Past Marketing Dollars’ Performance
To determine how much to spend on digital marketing this year, take a look at what you spent last year — and what worked.
If your previous year’s efforts worked, it may not be in your best interest to change them this year. The majority of your business’s marketing budget should be allotted to your most successful platforms at the moment.
However, as a general rule of thumb, try to allot around 40% — or just under half — of your marketing budget to digital.
This is high enough for you to tap into digital’s benefits while still taking advantage of traditional advertising strategies that work.
Still, you might want to slightly increase your digital budget by around a percent each year in the near future as digital marketing continues to increase in popularity. This will allow you to keep up with your competition.
What to Spend Your Digital Advertising Budget On
In 2019, video is one of the biggest areas to pay attention to when it comes to digital marketing.
Research indicates that global video traffic is expected to account for a whopping 80% of consumers’ online trafficthis year. So, be sure to use video on YouTube, Facebook, and Instagram, as well as on a website landing page.
In addition, allot your budget to engaging, unique social media and blog posts. Long-form digital content, in particular, will boost your search engine optimization (SEO). It’ll also provide your audience with the type of quality content they want to read.
Another thing to invest in is email automation. Here’s why.
Automation will allow you to start a discussion with the leads generated through your social media platforms and website. From there, you can build a very loyal group of followers. These individuals will look forward to hearing from you regularly via email.
Most importantly, invest in high-quality analytics. This is critical because where you allot your online marketing money won’t matter if you cannot thoroughly track your content’s performance.
How We Can Help
We offer WebInsight, a game-changing, data-driven program designed to help you to strengthen your bottom line in 2019 by using the right digital tools and producing relevant content.
We offer a number of services, ranging from digital marketing strategy development to SEO and social media marketing help.
Get in touch with us today to find out more about how large your digital advertising budget should be, and what to spend it on in the months ahead.