{"id":4730,"date":"2021-06-18T19:46:42","date_gmt":"2021-06-18T19:46:42","guid":{"rendered":"https:\/\/beyondbluemedia.com\/?p=4164"},"modified":"2021-06-18T19:46:42","modified_gmt":"2021-06-18T19:46:42","slug":"how-to-optimize-your-digital-marketing-budget","status":"publish","type":"post","link":"https:\/\/dev.beyondbluemedia.com\/index.php\/2021\/06\/18\/how-to-optimize-your-digital-marketing-budget\/","title":{"rendered":"How to Optimize Your Digital Marketing Budget: Where to Best Spend Your Dollars"},"content":{"rendered":"\n

Digital marketing is the bread and butter of growing a small to medium-sized business.<\/strong><\/p>\n\n\n\n

There\u2019s no doubt that you should be spending money to bolster your presence online but it can be difficult to know where to focus your efforts. If you\u2019re just starting to look into digital marketing for your company, it\u2019s easy to get bogged down by all the jargon.<\/p>\n\n\n\n

With so many directions you can take your campaign it can be a dizzying process figuring out where to put your dollar. But don\u2019t freak out! As experts in the digital marketing sphere, we are here to help you make sense of how to optimize your budget toward proper spending!<\/p>\n\n\n\n

Why Digital Marketing?  <\/h2>\n\n\n\n

As time goes on, more and more of our daily lives are intertwined with the internet. It\u2019s our go-to resource for organizing our lives, shopping, answering our most burning questions, and so much more.<\/p>\n\n\n\n

Your future clientele is online \u2013 that\u2019s a <\/strong>guarantee<\/em><\/strong>.<\/strong><\/p>\n\n\n\n

In fact, 81% of customers<\/a> start their search online before making a purchase.<\/p>\n\n\n\n

Younger people<\/a> are starting to do a lot more of their shopping online.<\/p>\n\n\n\n

As of 2021, there are a whopping 3.78 billion social media users<\/a> worldwide. This is a ripe playing field for businesses willing to explore digital marketing. <\/p>\n\n\n\n

If you don\u2019t invest in digital marketing, you\u2019re missing out on valuable leads and revenue.<\/p>\n\n\n\n

But simply having a presence online won\u2019t be enough. How you format your budget and what you use those pressure dollars for will determine if you reach your customers. <\/p>\n\n\n\n

How to Pick a Budget <\/h2>\n\n\n\n

As a general rule of thumb, most companies will spend anywhere from 7 – 10 percent of their overall yearly revenue on marketing<\/strong>. Of that percentage, a lot of companies opt to spend half if not more on digital marketing.<\/p>\n\n\n\n

This isn\u2019t to say that you have to spend upwards of 4 percent or below 10 percent of your revenue on digital marketing. Every company is unique and will require a different budget to be successful. Simply use these figures as a guide for what is typically spent on digital marketing.<\/p>\n\n\n\n

So, this means that if you make $1 million per year in revenue, you should spend $70,000 or so in yearly marketing spending.<\/p>\n\n\n\n

Understand Your Target Audience<\/h2>\n\n\n\n

There is no silver bullet for digital marketing. Every industry and every individual business will need to take a different approach to its strategy. (Never trust an agency that says that this isn\u2019t the case, you can\u2019t copy and paste campaigns and expect them to run the same.)<\/p>\n\n\n\n

A big aspect of planning your marketing campaign is to identify your target audience. Spend some time really getting to know your ideal patron<\/strong>. Where do they go online? What social media channels do they frequent and what content do they tend to consume? Once you have a good understanding of where your target audience is, you\u2019ll be better informed as to where to place your budget. <\/p>\n\n\n\n

Research Your Options <\/h2>\n\n\n\n

You should know your digital marketing options well before you dive into budgeting. There are a myriad of places you can place your dollar when it comes to building up your online presence. Where your campaign will take you depends on who your audience is and where you think you\u2019ll best reach them. Here are some examples of where you can focus your attention:<\/p>\n\n\n\n