ADS BUDGET FOR 2019 AND FORWARD
ADS, ADS and more ADS, it seems to be everything people are talking about, it’s 2019 now and no matter where you look there’s a deep need for businesses to use paid advertising.
Let’s be honest people get a headache when it comes to advertisements through social media or any other digital platform. But we know that these digital adverts are crucial for any digital marketing strategy. Finding the right way to optimize the adverts, selecting your target audience, creating the advert caption and visual itself as well as monitoring them so that the adverts are cost-effective, is the key to “ads” actually making you smile from ear to ear.
In this blog, we will explain to you what digital advertisements are, how we can make use of them and why people should invest more in their monthly advert budgets on these competitive online marketing platforms.
Firstly let’s look at Why We Need Digital Marketing?
People spend on average 3 hours and 20 min on their phones, let’s face it it’s an extension to our arm! The latest statistics show that the average Facebook user spends 35 minutes per day, checking on the newsfeed, reading Facebook articles, and watching a lot of videos. And that roughly 60% of the world’s population has a Facebook account, that’s an astonishing 4 and a half million people. This is just on Facebook, which doesn’t include Instagram, Youtube, and other online platforms.
People spend an amazing amount of time doing tasks and socializing on their phones apart from social media they also order groceries online to be delivered, read the news, book hotels, book flights, research on things that they are looking for, chat with friends, use it for work and so much more..
Digital marketing helps businesses of all sizes make themselves visible to these eyes. Whether it’s through social media, a website, youtube, search console or other means, subtle digital marketing tactics will make a significant difference in your organization’s marketability and profitability.
However, considering how expensive it is to run a business, your company may be hesitant to spend extra funds without assurances.
So Secondly we will talk about how it can be beneficial to your company and how to make it cost-effective?
Depending on factors such as business type, size, and industry, the actual baht amount of your digital marketing budget will vary, but you can learn from these tips and techniques to optimize your spendings on online advertisements. In order to optimize your digital marketing budget, the first step is knowing where your customers and prospects spend their time online. This way, you can direct your resources in the appropriate platform and maximize the return on your spending.
Setting up an advert budget:
Testing across multiple channels allows you to capitalize on opportunities and avoid areas where you’re not getting worthwhile results. Using different ads work better than others for different businesses, there is no set rule for all businesses even if they are the same type. TIP (if a campaign is working, make sure to increase the budget for that specific campaign, monitor if the difference still shows results.\, then start increasing then add more.)
Another step is REMARKETING, which is an activity that’s easy to let slide, but also one that can provide a good return for minimal investment. For those who don’t know, remarketing or retargeting allows you to show ads to web surfers who have visited your site or clicked on one of your ads but didn’t convert. They have already shown an interest, and now your ads will show up as they surf on other sites and other online platforms.
Understanding your audience and targeting them will help your business convert more of your budget into actual sales.
Whether your business uses traditional means to determine marketing budget, follows current trends or has a custom formula based on specific needs, there is a good chance that more of it will be allocated to digital marketing with each passing year.
Lastly, let’s look at why you need to increase your monthly budget for Online Marketing.
You have probably heard the saying, “You need to spend money to make money.” Well, that’s true, we live in a world that is overpopulated and highly competitive, increasing your Ads budget is how you can stay ahead of the rest and keep getting sales. As more businesses devote their hard-earned money to online marketing, television, and radio, the competition online is getting fierce. Small to Medium-sized Businesses who hope to compete will need to take a detailed look at their budgets to see how far they can stretch their online marketing baht, with a focus on creating content customized for their clientele. As businesses continue to allocate more and more marketing spend on digital channels, these spaces will only become more competitive.
Consider also the additional benefits of online marketing, too. Not only can you track specific metrics to provide valuable and specific feedback for each individual campaign, but any business, no matter the size, can be a strong competitor with a solid online marketing strategy. Let’s also not underestimate the viral nature of the internet. In the traditional marketing world, for example, you have to wait around for your sales flyers to get passed around between your prospects and customers. With an avenue like social media, share buttons enable your entire message to be shared quickly.
Ultimately, as businesses finalize their 2020 budgets, they will likely find that the benefits of increasing their marketing budget far outweigh any short-term cost savings that come with reducing it. As more SMBs shift their money to online marketing, they will find more prospects and more loyal customers who will visit their websites read about and rate their products and services, and purchase them and give feedback that will be valuable to the rest of the market. If your budget allows for only one or two things to focus on, remember that quality content — on your website, blog or social media channels — reigns supreme.
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