While creating a digital marketing Budget strategy, it is correct to prepare the budget you will allocate for these activities in detail. If budget management is not done correctly, you may not know which social channels to invest in, and therefore the return on investment of your marketing efforts may decrease. You should also manage your budget while developing your marketing strategy.
So how can you plan your budget?
Set your goals
Setting your goals should be your priority when making a budget plan. Your goals will give you insight into which marketing channels you will benefit from, so you can determine which marketing channels you need to allocate a budget for. As a company, you should plan what kind of feedback you expect from digital marketing ad efforts and set goals for yourself. Wask helps your social ads reach the right audience with a personal advisor service. So you can eliminate your trial and error method and lower your advertising budget.
See industry trends
You should also look at the industry trends before making a budget plan. Which channels do companies use and how? Which media are being used for advertising? How often do these studies take place?
When you examine the digital marketing activities of competing companies, you can see what kind of activities these companies do to reach their target audience. You can also work on the channels where they take place, or you can use different channels that do not exist but have the potential to reach your target audience for social ads. Wask, artificial intelligence allows you to easily identify the right target audience and focused advertising. Thus, we do not spend to the masses outside our target, we get maximum benefit with minimum budget.
Set your annual marketing budget
You need to determine how much budget your company will allocate annually to your marketing efforts. This plan should include digital marketing as well as offline marketing. In this way, you know your annual budget and you can build your marketing efforts on more solid foundations in this direction. Wask is also your biggest helper to keep your budget. You can set a budget quota for your ads, and your ad may automatically pause when it reaches your specified quota.
Divide your budget into branches
If we take digital marketing as a tree, the branches of the tree will be different marketing channels. In general, after you have allocated a digital marketing budget, you should divide it into separate branches.
- Social media ads
- Blog works
- Content work with digital publishers
- Influencer marketing
- SEO work
- PR studies
You should share your budget under these headings. After determining the best marketing channel you can reach your target audience with Wask, you can allocate a significant portion of your budget to this channel.
For example, if you plan to reach your target audience with AdWords, your main item should be this channel and the budget you have allocated for AdWords works should be more. Social media and other content marketing efforts may remain secondary.
If your target audience is more active in social media, your social media and content marketing efforts should be at the forefront. In this case, you’ll still need to allocate your advertising and social ads budget to these channels.
When planning a budget, the most important issue will be to determine the primary advertising channel for you. Once you have prioritized, you should identify your other marketing efforts that will feed this channel and then distribute the rest of the budget to these areas.
Breaking down the budget allows you to make long-term marketing plans, and helps you measure how much recycling you will get in these marketing efforts. For this reason, you should divide your budget according to different channels and divide it into different branches.
Review your old work
You can see your old ads on all channels through the Wask panel. Examining your previous digital marketing activities will give you ideas about budget management. You can analyze how much you invest in which channels and examine the return on investment. You can manage your budgets here in this way by including the works that you are satisfied with your return on investment.