You’re probably wondering how much you should spend on your online marketing budget and if you should invest in paid ads or organic SEO. Well, we’re here to tell you that there’s no one-size-fits-all answer when it comes to budgeting for online marketing. Each marketer’s budget is different and it depends on a number of factors.
How Much Can You Afford To Optimize For SEO?
Search engine optimization is a vital part of any digital marketer’s toolkit. You’ll be doing this for both your existing products and for any new products you develop in the future.
SEO is crucial because it can help you to appear at the top of the results pages of your search engine when potential customers are searching for the products you sell. This can dramatically increase your conversion rates.
The question is, how much are you willing to spend on SEO? That is the question. SEO is a vitally important part of your marketing strategy, so you don’t want to cut corners or skimp out on your investment. On the other hand, you don’t want to blow your budget on SEO either. Finding that middle ground is key.
How Much Can You Afford To Run PPC Ads?
Pay per click advertising is also crucial in order to gain traction with potential customers. This type of advertising allows you to specify the exact keywords or phrases you’re targeting and the ads will show up when someone searches for those terms. For example, if you sell swimwear, you might want to run an ad for “bikinis” or “beach wedding“. If you’ve got a luxury brand that is new to the online world and you’re trying to gain traction, you might want to consider paying for some targeted marketing. With PPC ads you can get started for free with limited ads for as long as your account is active. After that, the cost to run ads rises sharply.
How Much Can You Afford To Build Brand Awareness?
If you’ve been in business for long enough, you’ll know that building brand awareness is one of the most important things you can do for your business. This means getting the name and the brand of your products known to as many people as possible. One of the best ways to do this is through advertising. When customers hear or see your brand name, it triggers thoughts and feelings of familiarity and trust. If you’re looking to build a solid foundation for your business, invest in brand awareness campaigns. These are a great way to generate word of mouth advertising. With organic SEO and Social Media Marketing you can start with small budgets and then scale up as you get more results. You can use tools like Google Ads to track the success of your campaigns and see how much you’re spending on each one.
How Much Can You Afford To Test Campaigns and Measure Results?
Testing different marketing initiatives is one of the best ways to determine what works and what doesn’t. Once you know what performs well, you can replicate it for future campaigns. Another great thing about testing different marketing strategies is that you can measure the results. If you decide to invest in PPC ads, you can see how effective those ads were in bringing in potential customers. You can measure the ROI (return on investment) for each campaign and see the importance of each one.
The only problem is that sometimes it can be hard to know where to start. That is why we have created this post – to help you figure out how much you can afford to spend on each part of your online marketing strategy. With all the different tools and tactics available to digital marketers, it can be hard to know where to begin. This is why we have broken down the various costs into easy-to-follow steps so that you can budget effectively and plan out your own marketing strategy.
Step One: Set A Budget
The first step in planning your budget is to set a budget. Now, we’re not talking about setting a dollar amount that you will not exceed when investing in your marketing strategy. What we mean by setting a budget is to establish a limit on how much you’re able to spend on marketing initiatives. In the beginning, when you’re just starting out, it might be a good idea to set a budget that is somewhat high. Why? Well, you don’t know exactly how effective your strategy will be until you try it out. In the beginning, you could use whatever amount you need to use.
This is why it is important to set a budget. You don’t want to rush into spending tons of money on random marketing strategies that you might deem “success” stories. You want to be sure that you put in the amount of work that is necessary to see results.
Step Two: Choose A Toolkit
The second step in planning your budget is to choose a toolkit. Every marketer should have a toolkit that contains the various tools and tactics they need to do their job. It is important to keep in mind that not all tools and tactics in your toolkit will be beneficial to you. Some tools and tactics might require a lot of investment but you might not see results right away. That is why it is important to choose your tools and tactics wisely. Below, we will go over the various tools and tactics you should consider for your toolkit.
PPC Ads
We’ve already discussed how PPC (pay per click) ads are crucial for any digital marketer’s toolkit. These ads allow you to appear in the ads section of your chosen search engine when potential customers search for the products or services you offer. You can get started for free with limited ads for as long as your account is active. After that, the cost to run ads rises sharply. Once you have set your budget for ads, you will have to decide whether or not to invest in PPC ads. If you decide to invest in PPC ads, make sure you choose a reputable ad agency. Doing business with a poorly run agency could cost you a lot of money. Make sure that you work with an agency that is experienced and knows what they are doing.
Organic SEO
If you’ve been in business for long enough, you might find yourself wondering whether or not to invest in organic SEO. Organic SEO is exactly what it sounds like – getting “organic” results when a human searches for your product or service. Unlike many other types of SEO, organic SEO does not promote paid advertisements. Instead, it relies on a combination of techniques designed to help customers find your website when they search for your product or service.
As a business owner or a marketer, you’ve probably heard of Google rankings, social shares, and website traffic. All of these are important metrics when it comes to measuring the success of your organic SEO strategy. Keep in mind that each of these metrics can be influenced by a number of factors. It is, therefore, important to look at all the variables to get a clear picture of the effectiveness of your strategy.
Content Marketing
When an online marketer creates content for the purpose of marketing, they are doing content marketing. The content might be in the form of a blog post, an infographic, a video, or anything else.
Why is content marketing important? Well, content provides value to your target audience. When an online customer sees or hears something valuable in content, they will share that content with other people. If you’re looking to brand yourself as an expert in your industry, create educational and helpful content. For example, if you’re a lawyer and you want to create content to help other business owners navigate the legalities of starting a business, you could create a blog post about legal obligations or create an infographic explaining the basics of contract negotiation.
Once you start creating valuable content for your target audience, the next step is to share that content on social media platforms. Doing so will expose your content to thousands, or even millions, of potential consumers who use social media to stay in the know on what is happening in their industry. Sharing your content on social media will also help to boost your SEO rankings as other websites and platforms will link to your content.
User-Generated Content (UGC)
User-generated content (UGC) is content that is created by users (mostly individuals) for the purpose of marketing. For example, if you’re a clothing brand and you decide to get involved in blogging, you might want to consider using UGC to gain exposure. The idea behind this is to allow users to write content relating to the products you offer and then use that content to gain marketing exposure. For example, if you’re a fashion brand and you’re involved in a blog discussing outfits similar to the one you sell, you could ask users for their opinions and then use that content to educate your own audience about fashion trends or to help your target audience to choose the right outfit for the occasion.