5 things everyone forgets when budgeting for digital
Happy holidays! This time of year is a blur of friends, family, parties, gifts, festivities and maybe a few boozy eggnogs (which may or may not contribute to the “blur”). With so much going on, late December isn’t often a particularly productive time – but it does present an excellent opportunity to start thinking about the year ahead.
This week, we’re taking a closer look at the crucial details marketers often forget about when budgeting for their digital strategy. Whether you’re stuck at the office or curled up by the fire half-watching yet another cheesy holiday movie, look busy by checking out our list below.
1. Don’t set it and forget it
We all know that the ability to track your success is one of digital media’s biggest benefits – with all the data available, there’s no excuse not to monitor important stats like engagement and audience growth. So when you see your numbers slipping, take the opportunity to identify what’s not working and adjust your strategy (and budget) – no need to waste your resources on ineffective content.
2. Save big by repurposing content
Creating content in-house is a popular way for digital marketers to save a few bucks – but if you really want to maximize your budget, try repurposing your older content as well! Embed video ads in your organic social media post; share a recording of your webinar in an e-newsletter; turn a line from your blog into an inspirational Instagram quote. After all, you’ve already invested your time and money into creating content – why not make the most of it?
3. Prioritize website optimization
If your website is a mess, it doesn’t matter how much you spend on advertising, content generation and SEO – you’re not going to get the most bang for your buck. Your website is the hub of your digital strategy. All your other digital efforts should ultimately lead audience members to your website – where they’re most likely to convert. However, 94 per cent of people “would leave a website if they were uncomfortable with the way it looked”, according to Sprout Social. If your website is outdated, difficult to navigate or unattractive, it’s time to budget for an update.
4. Software can be a real budget-killer
In order to thrive in the digital world, your organization needs to invest in the right software. Social media management tools, analytics software, photo editors, video creation tools, competitor analysis platforms and email marketing sites are all important resources, but they can eat up a big chunk of your budget.
Find free options when possible – for example, Snappa is great for creating images and graphics, and most social media platforms include analytics tools. However, if you want to access a whole suite of tools without having to pay for them all yourself, outsourcing to an agency is a great alternative (especially since they’ll do all the digital work for you).
5. Do your audience research
When it comes to digital marketing, your success depends on how well you understand your target audience. In 2020, make it a priority to invest in a little audience research. Create target audience profiles, dig deep into your demographics and discover what your audience actually wants (and needs). Trust us – once you understand the people you’re targeting, it will become much easier to connect with them.
Budgeting for digital can be overwhelming – but keeping the above factors in mind will help you find success in the long run. And if you need a little help getting your strategy up to snuff, folks at Communicatto are always here to lend you a hand.
Here’s to a better budgeting strategy in 2020 (and beyond)!