With more and more people preferring to consume content online instead of through other resources like television, you may think it’s wise to manage your entire marketing budget in a way that allocates all your resources 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 will still notice what’s on a billboard by the side of the road.
Clearly, traditional forms of marketing shouldn’t be discarded entirely in favor of digital marketing. Instead, many businesses will be well-served by using a combination of conventional and digital marketing to promote their goods or services.
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 a 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? Attract more foot traffic to your physical retail location? Increase awareness of your brand? 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.
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It’s likely that your phone number will be included in many of your ads. This is particularly true for your traditional advertisements because viewers won’t be able to 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 18 detailed tracking reports. Contact 800response to learn more now — More Calls. More Sales. More Profits.™