Back in my agency days, I was really confused as to how my team managers could magically divide the client’s budget on digital across channels like Google & Facebook, and across networks like Google Search, Shopping, GSP, Facebook Targeting & Remarketing. They would estimate some “industry standard” click-through & conversion rates and apportion the client’s money across these channels to achieve the desired goals either transactions or leads.
Table of Contents
Over the years, I’ve realized that marketing managers figure out some of these industry thresholds and develop some templates which helps them accurately coin strategies that are at least 70-80% of the desired results. In this E-Book, we’ll be taking you step by step, in how you can create a comprehensive 3-month comprehensive digital marketing budget strategy.
What You’ll Learn from this E-book?
This e-book primarily aims to make you independent from your marketing managers, and helps you create Digital Marketing Strategy & perform budget allocations for all the online channels, and highlights the levers that you need to focus on when you create your strategy around thresholds & metrics –
Deep Dive into Primary & Secondary Metrics –
Learn why CPCs, CTRs, Conversion rates are so important.
Understanding Your Target Consumers –
Learn How to think about your target audience & then take a decision on which channels & networks you want to allocate money to.
1st Month’s Budget Plan –
Learn Step by Step for a Travel company, who wants to create a Digital Marketing Strategy & Budget Plan for the 1st month on Google & Facebook.
3-Month Budget Plan –
Learn how to expand your 1 month’s pilot to a 3-month quarterly strategy, also check the pitfalls & landmines of digital PPC you need to avoid.
Bonus Section :
We have also shared a compilation of 10 top performance marketing strategies that have worked well for both e-commerce & lead generation businesses, which you can use as a starting point for your digital marketing strategy.
You can download the e-book from the below link Free of Cost. Do let us know your feedback.
Why are metrics important in digital marketing?
You can’t just run a marketing campaign and forget about it. You need to continuously track KPIs to see how they’re doing. It helps you gauge a campaign’s effectiveness, provides you with valuable insights that can help you adjust future campaigns and helps you understand if you’re achieving your business goals or not. Some of the most common metrics tracked in every marketing campaign include awareness, sales, lead generation, engagement, customers acquired and more. Also, every online channel has a different set of KPIs. For example, in digital marketing, you usually measure the click-through-rate and impressions whereas in an email marketing campaign, the main focus is on email opens, unsubscribes and forwards.
How can I allocate a digital marketing budget for my brand?
To allocate a digital marketing strategy for your small business or start-up, you need to start by listing your goals (brand awareness or sales), get specific about your goals (increase website traffic by 50% or gain more social media followers), select the best channels that suit your brand, goals and audience, determine the cost of the short-listed channels and then estimate your budget. It’s a good idea to start with certain cost-effective strategies which include SEO, email marketing, starting a blog, Instagram ads, Quora and video remarketing.
How to run a successful pilot campaign?
If you’re investing in digital marketing for the first time, you should be running a pilot campaign. It will help you draw valuable takeaways which you can use when you roll out the campaign on a larger scale. To run it successfully, you should start by defining what you’re testing, give it time and not jump to conclusions, stick to your goals, run several A/B tests and then ultimately accept failure if something is not working and try again. By running a pilot campaign, you can ensure no resources are wasted.
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