How to Plan a Digital Marketing Budget
How to Plan a Digital Marketing Budget There are a few things to keep in mind while planning a budget for digital marketing, it is important to sort priorities and allocate the funds accordingly. Here are 5 tips that will help you get a clearer picture. Know your costs and revenues Depending on the industry in which you operate, the difference between marketing spending as a percent of company revenues can vary. Even within the same industry, every company has its approach to digital marketing, based on its target audience, KPIs and goals, the competitive playing field, and more. 2. Set your goals Some researchers state that 27% of marketers rate securing enough budget as their top challenge! Now for the good news: marketers who calculate ROI are 1.6X more likely to get higher budgets . Before allocating your total marketing budget, you need to define your goals for the coming year. 3. Align your goals with your company’s strategic goals ...