ENewsletter - June 2020
What to do with Your Limited Marketing Budget

Whether you're increasing or decreasing your marketing budget, it's likely that it's limited. How do you decide where to spend?

The jury is undecided on what makes sense to measure on digital platforms. Followers, Likes and even interactions don't matter if you're not reaching your target customer. Some of these steps seem like no-brainers, but often companies in a rush to see results are tempted to skip a couple of them.

  1. What do you want to accomplish? "More Sales" is not always the answer. Be clear about what you expect before you start looking for the right tactics.
  2. Identify your target audience. You may have different audiences for different products, services or categories. Clearly identifying your targets is the starting point. Spoiler alert: it's not "everyone".
  3. Find out where your audience lives. What platforms does that demographic use? Are they accessing websites via mobile or laptop/desktop? What publications do they read (on line or in print)? Where do they view their entertainment? Do they listen to podcasts? Read blogs?
  4. What is the app usage of your audience(s)? Do you have an app for your product or service?
  5. You probably don't need to be everywhere. Depending on where each of your target audiences live, you may find that you no longer need to be in some traditional media such as TV commercials, print magazines or brochures. You may need a YouTube Channel but not a Pinterest page.
  6. Decide what to measure. Once you decide on a platform, decide what to measure. Weigh the metrics against your objectives. Large numbers of "likes" or followers mean nothing if that isn't your goal.
  7. Whatever your business, YOU NEED A WEBSITE. A Facebook Page or Yelp listing is not a substitute for a website. Your website is the only platform where you control and own the content. First advice is to hire a professional to help you design it, but even a DIY Wordpress or WIX site is better than nothing.
  8. What content do you need? Newsletter (outbound), Blog (inbound), Research, Video, Podcast?
  9. Start with what's free. If you've been on Facebook or LinkedIn for any amount of time, you've likely received free credits for ads. Make good use of those for testing. Likewise, make sure you have an SEO tool installed on your website, and use it. Websites are all about appropriate targeted content and there is a lot you can do before you start to pay for SEO.
  10. Take baby steps. Once you decide where you need to be, it may seem overwhelming. Start with one, get good at it and then move on. If you have expertise in house, great. If not, you may want to hire a consultant that can either set it up and train your staff or manage it for you.

Don't forget your Brand.

Your brand should be consistent across all platforms. The terms you use, the colors and images you use should all be recognizable and consistent with your messaging. (If you don't have a clear brand already established, make this your Step 1...).

There are so many options that determining how to spend your marketing budget can be inundating. Taking it one step at a time can help to organize your efforts so that it's more manageable. And, we happen to know a good consultant if you need one...!

Thanks for reading our monthly eNewsletter for tips & trends in marketing and communications!