Whenever we consult for a group, however small or big they are, this is always the inevitable question “How much must we spend on our digital marketing strategy?” Not every business has an unlimited marketing budget. You can optimize even a limited budget by choosing to invest in online strategies with a potentially higher return.
What is an ideal marketing budget and where to spend it
The general rule of thumb is to spend 7-10% of your gross revenue on marketing. Again, if you are a new business, this budget should be 12-20% of your revenue since you are still establishing your brand and need to reach customers. Established companies with good brand equity can spend 6 -12% on marketing.
While the above is an overall average, the market budget as a percent of gross revenue can vary from industry to industry. B2C sectors usually spend more, with an average of 13.7%. The B2B sector usually has average spending of 6%.
B2C sectors usually spend more, with an average of 13.7%. The B2B sector usually has average spending of 6%.
Of the total marketing budget, half should be spent on an online marketing strategy. However, many companies fall far short of this. The growing popularity of the internet means that most of your customers can be reached here. This makes it crucial that you allocate a fair bit of your budget to digital campaigns.
Many businesses that haven’t yet invested in a digital marketing strategy might be apprehensive about suddenly allocating larger budgets. Smaller businesses just might not have the wherewithal to go big with their digital plans. In whichever group you might fall into, these 4 digital marketing strategies are your best bet.
1. Local SEO
Think about how many times you have searched for either a brand or a service and a Google Local Business shows up in the search results. According to Google, 46% of searches have local intent. This is why local SEO is one of the best digital marketing techniques that cannot be ignored.
According to Google, 46% of searches have local intent.
Local SEO is particularly important for bars and restaurants, law firms. medical practices, pet services, real estate brokers, and services like plumbers, etc. You need to optimize local SEO so that your business comes up in the Google business pack for searches, also on Google Maps. Of course, Google Reviews will be connected with your Local SEO listing.
Whether you are a B2C or a B2B business you need to have a Google My Business account, To get started you need to claim your business on google.com/business. This is wholly free but there are many digital marketing techniques that you should be aware of and why many businesses prefer to hire SEO Specialists in agencies.
2. Creating SEO Content
More the valuable content on your website the more traffic it will generate. While a company’s products and services will draw in visitors if the content on it is well optimized, these pages are limited. The best SEO content writing technique is to add blogs to your website. Blogs are a great way to add fresh content to your site and a way to gain backlinks. They also build credibility for your services and get the attention of users searching for information in the exploratory phase. Blogs are often tied to social media mar