How to invest your Digital Marketing Budget in 2023?| 4 Strategies
Still struggling to get positive results from digital marketing? Follow these strategies to get the game right and effective!
It has been seen that most of the companies spend around 7-10% of their revenue on marketing out of which digital marketing should grab the lion’s share. But, expecting a good turnover by spending less than a third of the total marketing budget is not going to make a significant difference.
After all what matters is your visibility and lead generation. There are a plethora of leads looking for your business and investing money in the right direction will not only help you grab those valuable leads but also give a push to your revenue.
While setting up your digital marketing budget, you just need to follow a simple 70-20-10 rule which states:
NOW: Spend 70% of the budget on the strategies that are actually working for your business.
NEXT: Spend 20% of the budget on the technologies or business strategies that are on the horizon and trending.
NEW: Keep the remaining 10% for trying new or upcoming things in digital marketing that are worth taking risks.
Now let’s discuss the top-rated four digital marketing methods and their budget allocation for your 2022 marketing endeavors.
SEO
Without a thought, Search Engine Optimization is one of the best strategies to look for to boost your organic rankings, visibility, and brand recognition. It helps you crack your potential leads and increase footfall.
Here’s what to look for NOW, NEXT, and NEW for SEO.
| SEO | ||
| NOW | NEXT | NEW |
| Target long-tail keywords | Optimize for Voice Search | Image search |
| SEO-friendly content | Pinterest postings | Google Lens |
| Backlinks | ||
| Responsive design |
2. PPC (Pay per click)
PPC is a paid advertising and promotional strategy that helps you reach qualified leads who are interested in your products and services. PPC makes your ad appear on the top of SERP results before the beginning of the organic results.
How to Optimize for NOW, NEXT, and NEW?
For NOW, focus more on researching the right keywords as it’s these keywords that’ll help you boost your traffic footfall and ensure that you’re driving the right results.
For NEXT, look beyond Google! There are many other companies and websites that are offering PPC such as Facebook, Amazon, etc. Connect with the best digital marketing company near you for the right approach.
For NEW, there are many upcoming unique search strategies such as search by product, image or UPC code. Dedicate some effort to mould your PPC ads to fit these future aspects.
3. Email Marketing
Email marketing is one of the most effective and conversion-friendly digital marketing strategies to invest in 2022. It helps you directly connect with your leads who are interested in your business and want to hear from you.
How to optimize email marketing for NOW?
Don’t draft common content for all your subscribers or audience. To get the best response, it is better to segment your audience based on their likes and dislikes. Now, trigger the emails that are curated as per their individual preferences.
This will help the audience connect with you in a better way.
Optimizing for NEXT:
Rather than focusing on tracking the opening rate of your emails, it would be better to concentrate on efforts that actually impact your bottom line. These include open online transactions, how many carts are abandoned etc.
Optimizing for NEW:
Focus towards personalization using Artificial Intelligence. Think of methods that help to understand the user preferences and trigger one-on-one personalized emails.
E-commerce Marketing
E-commerce is not going to slow down! It’s the future.
If you still haven’t jumped on this bandwagon, it’s high time to do so.
Optimizing e-commerce for NOW means finding places where you can sell, learning how to sell, and understanding the importance of having your own personalized commerce platform.
For NEXT, work on having your own e-commerce website as it helps you save a lot on seller fees that are charged by major e-commerce retail giants such as Amazon, Flipkart, etc. You can work on your own SEO, and PPC campaigns to bring your rankings up.
Optimizing for NEW:
<>Launch Google shopping ads
<>Marketing automation, streamlining ROI
<>Photo SEO
<>Improvise website in SEO, page speed, user experience
If you don’t have time for all this, it’s always better to hire a professional web development and digital marketing firm to reap the benefits to maximum.
We, at Digital Kangaroos, strive to keep your business in pace with recent trends and the latest SEO algorithms that help you hit the ground running and secure an unrivaled presence in the digital world! For more such interesting insights don’t forget to share and subscribe.