Do you want to save money in marketing? Go to Digital!
Do you have an infinite budget in your business? I don’t think so! So, do you like to waist your money? No! Nobody likes that! So, what are you looking for? You, as everyone, in private life o in business, you want to save money. Many entrepreneurs, to save money, they stop doing marketing. A crazy choice! Marketing it’s the only tool you have for your company to increase your business. So, continue your marketing but discover how to save money.
Because you want to make growing your business, right? Ok, then let’s see how to save money in marketing.
What sounds better: spending thousands, million, billion dollars on elaborate print or television advertising campaigns with no way to measure a return on investment, or paying nothing to integrate simple solutions into your current marketing strategy and get closer to your customers? As I always say during my seminars:
You don’t need to spend money in marketing.
You need a strategy to have a return.
Into the digital world you can highly target your audience and reach the customers you want, and global businesses are shifting marketing plans. According to a 2015 Forrester Research study, of marketers who plan to transition spending from traditional mass advertising to digital marketing, digital advertising spending will receive 10%—the second-largest share—of the B-to-B marketing budget this year.
Digital Marketing helps businesses stay lean in spending while growing revenue.
You know what I suggest you, guys? Taste your pizza and improve your recipe! Is it awesome or it’s a crap!? Or maybe it’s not bad, but not so great. You have to check your ingredients, to improve continually your recipe until you get the result you expect: a pizza with the same test of my gran-father secret!
So, before implementing new marketing plans in your business, conduct an audit of what you’re currently spending where, and examine how those actions align with your business plan. Look at immediate ways to save, for example by killing campaigns that haven’t provided consistent return on investment. Re-evaluate your goals, and use the secret techniques I’m gonna reveal you to save money on marketing.
Traditional advertising is so expensive! And… can you track it?
Traditional advertising is great for increasing brand awareness because it’s directed to a large public audience, but it’s hard to measure. Can you know how many people have seen your banner on Sheikh Zayed Road? No!
So, what are your decisions based on? Data! In Digital Marketing you have measurable data that you can’t have offline. Wouldn’t you want to know how many existing and new visitors you have on your website? Why people are leaving your website straight after landing on it? Or why they are spending a long time browsing without taking any action?
This is the information that’s changing the way business is done and as much as this might look familiar for some, there are still many companies that are not aware of the power of online data.
Digital it’s faster and can target precise markets
One of the reasons Internet has become popular is its freedom to communicate messages to a broader audience or to target niche markets. You have complete control of who you direct the message to depending on where they live, their age, their job and so on. You can also control when the campaign goes live and when you want to push promotion.
If you hit the bull’s eye you do Bingo!
Your target audience is often represented by what we call in marketing, a persona. This persona has the characteristics of an individual who is most likely to buy services or products from your company.
So, you have to develop content and use specific tactics that will draw the attention of an individual who is likely to be interested in your products and services, and then create in that individual a desire to engage with your business – perhaps first with the content that was developed for them and then, of course, as a customer.
Sounds simple, right? It can be. But many companies, depending on the range of products and services they offer, may have multiple personas to reach out to. So, they can get confusing. And many times they spend more money that they should… yes, they waste money!
The solution is this: you need multiple content campaigns that use a variety of different types of media, each with a different approach or tone of voice, different methods of content promotion and different methods of tracking, and so on. OK?
Working with digital experts
Full-service agencies typically have teams of people who specialize in various aspects of marketing – from social media, graphic design, marketing technology, copywriting, web design, development and advertising. But the problem is that they can’t be specialized in everything. Every agency is specialized in something and then they add other services in order to satisfy many types of customer needs. But many times it doesn’t work. In Digital Marketing you need specialist focused just on Digital. So, if you have a CDO (a Chief Digital Officer) he will be able to choose people to work with, in insourcing or outsourcing modality, in order to have many experts in every aspect of Digital Marketing.
Staying current with marketing trends
It’s no surprise that the world of marketing is changing and changing fast. Traditional marketing methods are morphing with new digital trends. If you work with an agency with the balls, part of their responsibility is staying abreast of all the latest happenings in the world of marketing and bringing to the table new and fresh ideas that will benefit your company.
Accountability, measurability and… results!
Have you ever spent a bunch of money implementing a marketing plan only to not really know how effective it was? Marketing plans are not helpful unless you can measure the results. You need to know which strategies are working and which are not. No more just waiting and hoping what you are doing is working. Measurable data and knowledge of your customers is necessary to create effective marketing. A Chief Digital Officer or a serious marketing agency can provide this for you. Because you want to spend your marketing budget only on plans that work, right?
Do you want to save money in Digital Marketing? Hire a professional
“Ah no! To save money we prefer DIY: Do It Yourself is the real solution to save money!” Ok, that means that you’re the only human being on the hearth for whom time is not money. But for every one of us, especially in business, time is money!
So, when you take the DIY route, you’re spending time researching how-to ideas, putting them into practice, analyzing the results and essentially using trial and error until you get it right. Although it isn’t costing you anything upfront, the amount of time spent on your attempts could equal many hours wasted – hours that could have been spent working on more important projects and earning revenue.
You’ve actually lost a lot.
Do you agree? Do you like it? What would you prefer? Results in the right time? A professional will know exactly what to do from the start, saving you both time and money.
Use these tips and let me know
Any of these tips will add a little extra value to your digital marketing campaign and help you to save time and money. So, let me know how you get on in the comments. Which money saving tips and tricks have worked for you?
Reveal my your best recipe for your tasty pizza!