Do you feel like you are running on empty? Is it hard to keep up with the pace of marketing in today’s world? Are you looking for ways to make your marketing efforts more effective and spend less time doing them? If so, this article is for you! We’ll walk through how to plan a marketing budget in 5 steps that will help take pressure off of yourself. Let’s get started!
1. Estimate your marketing budget
You’re about to spend money on marketing. So before you do, ask yourself: “what is my Marketing Budget?”
If you don’t know what your Marketing Budget is then it’s time to set one! There are a few easy ways that we can help you estimate it and make the best decision possible for your business. But first…
What does a Marketing Budget actually include?
- Advertising
In advertising, people pay for space in publications or television commercials where they display their product. The idea behind this is that your customers might see your advertisement and be interested in buying it! If not, advertising still helps people become aware of what you’re selling and how much money they can save if they decide to buy from you instead of another store.
- Graphic Design Services
Graphic design service is a way to show people what you’re selling. It will help them know about your product. And if they know, they might buy it! Graphic design can be anything from a logo for your company, to the cards you give out on special occasions.
- Website Development
When you want to show people what your business sells, you can use websites. Websites are like stores. They show pictures of things that you sell, and tell people how much it costs! Websites are important for companies that sell things online, who want to market their product through the internet.
- Customer Retention Programs (CRM) or CRM Software
The customer retention program is a way to keep customers. The customer retention programs can be anything from something you give them, like a cup of coffee, to the type of deal they get when they buy something. If you want repeat customers, this is a great way to make sure they come back!
- Marketing Consultants
Marketing consultants are people who help with marketing. Marketing consultants work on the company’s advertising, like where they will post or what they will say in their ads. They can also do stuff like design logos for the company, or make cards to put out at events. Sometimes consultants are full-time employees, but more often they are companies who are paid to help with marketing!
Note: Smaller companies may not need to use consultants. That’s because most small business owners have enough experience in their area that they can do the work themselves. However, if you’re finding that you don’t have enough time for your business because of your marketing work, it may be time to hire marketing consultants.
- Digital Marketing Agencies
Digital Marketing Agencies are companies that help with marketing. Some of the things they can do is make sure people see your ads, design logos for the company, or make cards to put out at events. They can also help you figure out where you should post or what you should say in your advertisements. Digital Marketing Agencies may be full-time employees, but more often they are companies who are paid to help with marketing!
- Paid Search (PPC) – Social Media Campaigns
Paid search is when you pay to put your ad on social media. You might be paying for a post, or you might be paying to put your ads in the side of someone’s feed. The idea behind this is that you want people to go from seeing your ad, to visiting your website. Paid search can be a great way to get more customers!
- Content Marketing Programs
Content marketing programs are a way to get people interested in your products. It can be difficult. But content marketing is good for getting people to know about what you sell. You can do this through websites, or by posting on social media sites like Facebook or Instagram. Content marketing also includes when you want to show people what you sell but don’t have enough time – you can hire consultants who will help with this!
- Branding and Messaging
Branding and messaging are important for a company. Branding is what you want people to think of when they see your company’s name, and messaging is what you want them to know about your products. You can have branding through a logo or through design, but it always has to match the message that people need to know about your product!
Determine how much of the budget will be spent on each marketing tactic
- Website Development: $150
- Customer Retention Programs (CRM): $500
- Marketing Consultants: $250
- Digital Marketing Agencies: $1000
- Paid Search (PPC) Social Media Campaigns: $50
- Content Marketing Program: $200
- Branding and Messaging: $200
Total Marketing Budget: $2250
The company will spend $2250 on marketing during 2021 year. They will spend $150 on website development, $500 on customer retention programs (CRM), $250 on marketing consultants, $1000 on digital marketing agencies, $50 on paid search (PPC) social media campaigns, $200 on content marketing program and $200 on branding and messaging.
Make a plan to achieve your goals by thinking about your budget! Your budget should not be how much money you have, but rather how you want the money used. You should think about where you want people to see your ads, what you want them to know about your products, and who you will hire if you need help.
Think about where you should post or what you should say in your advertisements. You could pay for a post on social media sites like Facebook or Instagram, or maybe even have someone do content marketing for you! Think about how much money it might cost you, and how many people might see your ad or content.
2. Decide on a timeline for your campaign
It is important to decide on a timeline for your campaign. You should think about where you want people to see your ads, what you want them to know about your products, and who you will hire if you need help.
Think about how much money it might cost you, and how many people might see your ad or content.
It is also good to think about when would be the best time for people to see the ads or content that you make in order for it to work. You should take into account holidays and other events in the future when deciding this!
Here is the list of platforms that you can run ads and campaign
- Google+
- Tiktok
3. Create a strategy for success by outlining all the steps needed to achieve it
A strategy for success is a plan that you make with a timeline and deadline, as well as the steps that need to be taken in order to achieve your goals. You will want to outline all of those steps, including what needs to be done now, what you need to do next, and what you would like to do as far as possible. You should also think about what might stop you from achieving your goals, and how you can act against them!
4. Choose what type of marketing you’ll use to promote your business
Marketing is important to promote your business. There are many ways to do it. For example, you can create a website for your company and put it online. You can also hire marketers who will help you find new customers for your company or people who will be interested in what you sell. That is called “content marketing”– people will get to know about your company through websites, videos, social media posts, etc.
- Launch and follow-up with customers, prospects, and partners to measure ROI (returns on investment)
It is important to launch your business and follow up with customers in order to measure ROI. If you are in the market to make money, it is important, because sometimes the investment doesn’t go as planned. It’s important for you to get feedback from your customers so that you know what they think of your product and whether or not they want more of it!
5. Brainstorm goals for your business
It is good to think about what you would like to accomplish with your campaign and marketing strategy. You should then work backward from there, thinking about what you need to do in order to achieve it. For example, if one of your goals is 10,000 Facebook likes, you should write down what you need to do in order to achieve that and how you will measure your success.
If you are looking for a marketing plan that will work in 2021, this guide is here to help. Follow these five steps and your company should be set up with the perfect budget to increase sales by next year! Marketing can make or break any business venture-especially when there’s not enough time left before an event like Black Friday. To avoid costly mistakes during peak shopping season, it’s important to have a reliable marketing strategy in place long before Thanksgiving rolls around again.
