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Manage Your Entire Marketing Budget

With so much online content to consume, you would think no one is watching TV. You might also think, therefore, you’d be wise to allocate your entire marketing budget to digital marketing. While that may be tempting, it’s simply not a smart move for the majority of businesses.

People still watch television. Consumers still listen to the radio, too. A lot of shoppers still enjoy looking through newspapers and magazines, as well. While passengers may prefer to use their mobile devices when they’re traveling in a car, many drivers, passengers, pedestrians, and cyclists still notice what’s on a billboard.

Clearly, traditional forms of marketing are still viable. But instead of placing your budget entirely in the traditional or digital basket, place your eggs in both baskets. Here’s how to diversify your marketing budget with a combination of conventional and digital ads for a better return on your investment (ROI).

Tips for Managing Your Marketing Bucket

When it comes to your marketing budget, it’s helpful to look at it like a bucket that contains all your marketing techniques and tactics. Every line item in your budget represents a marketing activity that will ideally produce the desired result. Managing your marketing bucket efficiently requires you to make sure your marketing budget is designed to support the specific goals you want to achieve.

Do you want to increase conversions online? What about attracting more foot traffic to your physical retail location? Would you like to Increase brand awareness? Generate goodwill? Whatever your goals are, you must ensure your marketing budget and objectives are in alignment.

While aligning your budget and goals is a valuable tip, it’s not the only one that can help you manage your entire marketing budget efficiently. Here are a few more suggestions that may help:

  • Budget for the Unexpected: As the fiscal year progresses, you may launch a new product earlier than expected, or a new competitor may step foot onto the playing field. Events like these may require you to spend money you didn’t anticipate losing, which might force you to reduce funding for other marketing activities. To avoid having to cut your spending on other activities, it’s important to budget for the unexpected right from the start.
  • Track Your Expenses: It’s essential for you to keep track of the money you spend on your marketing activities. While some activities may have a set fee, others may not, as is the case with pay-per-click ads. Since you pay a fee every time someone clicks on your pay-per-click advertisements, these kinds of ads can end up being significantly more expensive than you expected.

Monitor Your Results With Tracking Reports From 800reponse 

It’s important to use a call tracking number in your ads. This is particularly true for your traditional advertisements because viewers can’t click on anything to contact your business or navigate to your website. When you get a custom phone number from us, keeping tabs on your results is a cinch because you’ll have access to real-time tracking reports. Contact 800response to learn more.

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