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Where Should Your Marketing Budget Be Spent?

marketing decision planning

Everyone knows that having a comprehensive marketing plan is crucial to building a companies brand- especially their online presence.

This is one of the most critical factors in the growth of your company. Knowing how to execute a marketing plan well is not as easy as it might appear, however. Throwing a load of money on only one strategy can result in failure, and it is much better to have a broad vision when it comes to the strategies needed to build your company.

Social Media 

You may have a brand or service that does particularly well online. This doesn’t mean that you should ignore traditional marketing. In fact- traditional marketing is still a very powerful marketing strategy when used appropriately.

It is widely accepted, however, that digital marketing is most effective when it comes to online brands. The role of social media has a large part to play in the success of digital marketing. Social media marketing is an area that should be a significant focus of your social media team as it can be incredibly effective.

Building an online presence on the leading social media platforms such as Instagram or Facebook isn’t as expensive as it is challenging to stand out.

Bloggers and Influencers have perfected the art of building an audience, usually with no budget at all. To maximise your sales on social media, without spending a great deal of money, you should look at similar brands or services that have a large following and see the types of posts that they put out there.

Giving your brand a personal edge, sharing behind the scenes images, and using video, will help generate interest in your product or service. Additionally, linking blog posts, collaborating with influencers, and doing giveaways are all excellent ways to build and engage an audience.

SEO

There are many reasons why SEO is so essential for your online success. Gaining presence and visibility on search engines is something that every business wants, and the best way to do that is by investing in SEO.

Instead of having to rely on organic traffic, which is often difficult to grow or rely upon, SEO gives you control and helps you stay ahead of your competitors through lead generation, sales, and more profit.

Of course, as important as your marketing budget, your sales budget is also just as important. When it comes to supporting your sales team, you need to invest in tools and software that can make your business more efficient, save time, and generate better results.

Services such as PragmatiQ Solutions can grow your business by reducing costs, automating the sales process, and help you gain critical insights. 

Advertising

Online advertising on social media platforms is an excellent way to generate leads. This isn’t necessarily costly and is adjustable to any budget. For example, Facebook offers marketing and advertising tools that allow you to tailor your advert to your target audience and will enable you to set a time limit as well as location easily.

If you decide to use other advertising routes such as radio or even television, it’s much more expensive but of course, advantageous.

PM Today Contributor
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