You are clear that Digital Marketing is vital to grow your business, what’s more, 95% of companies have increased their Digital Marketing budgets in recent years, and this continues to rise.
You also know that Digital Marketing can be complicated because it involves numerous strategies. Faced with this complexity, you face a huge challenge, how to define the budget of the Digital Marketing Plan of your project correctly?
I have the answer and you will find it in this article. But first, let me share an important reflection with you.
The success of your Digital Marketing Plan is not proportional to the money you invest.
Spending more money does not have to be equivalent to obtaining greater results. The important thing is 巴基斯坦电话号码表 that you invest wisely, planning your budget based on the objectives you set for your business.
When you finish reading this article, you will be clear about how to create your first Digital Marketing budget , what it should include and how to avoid the most common mistakes that many entrepreneurs make.
How to define the budget of a Digital Marketing Plan?CLICK TO TWEET
In addition, you will be able to see a template that will help you define your budget. Go for it!
ARTICLE INDEX
Why is it so important to create a Marketing budget
How to structure a Marketing budget
How to define the Marketing budget step by step (+ example)
➡️ 1) web design
➡️ 2) Organic positioning (SEO)
➡️ 3) Search Engine Advertising (SEM) and Social Ads
➡️ 4) Social Networks
➡️ 5) E-mail Marketing
Tips for Setting a Realistic Marketing Plan Budget
So you must ask yourself a question: can you allow yourself to do everything you would like to do or do you need to restrict some areas to maximize your ROI?
Why is it so important to create a Marketing budget
The Digital Marketing budget includes all the money that your company intends to invest in the development of your Online Marketing Plan over a specific period (quarterly, annually …).
This budget includes the necessary expenses to activate the different Digital Marketing 警报消息 strategies that you have devised for your business, such as advertising on Social Networks, SEM, web design, Content Marketing, Social Media or SEO, among others. There are many tactics and this can turn into an infinite investment pot with no results.
More often than I would like, I watch entrepreneurs, projects, and companies misallocate their budgets, allocating scarce resources to essential tactics or wasting their money on random strategies.
Knowing where to invest your money is essential to obtain the best results from your Digital Marketing strategy.
Since when we start with an entrepreneurial project, we usually have limited financial resources, it is essential to plan how you are going to use your money to maximize the ROI ( Return On Investment or Return on Investment) in an efficient way.
And this is only achieved by planning expenses and defining the Digital Marketing budget .
If you are already allocating time and money in your Digital Marketing Plan, but you are not obtaining the expected return, you may be making one of these two mistakes:
❎ You are not investing enough.
❎You are not investing well.
In these situations, careful budget planning is even more critical to ensure the survival of your company in the short and medium term.
How to structure a Marketing budget
When you sit down to structure your Digital Marketing budget, you must make your business objectives clear in advance . And no, an objective is not: I want to increase my income or have more clients.
To be effective you must plan smart goals , also known as SMARTS goals (specific, measurable, achievable, realistic, on time and social).
I give you an example: I want to increase the database of my subscriber list through Social Networks by 25% during the next 3 months.
In addition, you should also bear in mind that your objectives, and with them your investment, will vary depending on the sector in which your project is framed and the competition in that industry. Think that a local restaurant does not need the same Marketing strategy as a company that wants to sell an SEO tool worldwide.
? Your goals are what determine the Digital Marketing strategies that you must implement to achieve them and how much you must invest in each of these actions.
How to define the Marketing budget step by step (+ example)
Knowing how much you are going to invest in Digital Marketing is important, but it is even more important to know exactly how you are going to invest that money . For this you need a plan that describes all the costs that you must assume to achieve your Marketing objectives. And that plan is the Digital Marketing budget .
When you define your budget, research how much all the strategies you want to bet on will cost and the tools you need to activate them.
To help you in detail, we are going to see which are the main Digital Marketing strategies that work and that you should consider when defining your budget.
➡️1) web design
Your website is the base of your business operations , the mainstay of your entire Digital Marketing strategy. For this reason, it should be one of your priorities, before even launching into another strategy.
In your budget, consider resources to meet expenses such as the web domain, hosting or maintenance. Also allocate enough to design or redesign tasks. That is, it is not enough to have a web page, but it must:
?Attract traffic from search engines with a responsive design .
?Guarantee a good user experience (UX) with a clean and neat design, and an optimal loading speed .
?Capture leads and generate conversions by making strategic use of content and copywriting.
? What is the cost of this Marketing strategy?
A domain is usually around € 10 per year, and a web hosting can have a cost of about € 100 per month depending on its capacity.
Regarding the price of the design it depends mainly on the size of the website. It is not the same to create a page for an eCommerce or a membership, than a personal brand page. My recommendation is that you consult experienced professionals, they will indicate their rates. A basic website can be obtained from € 500 and the maximum price does not exist, as personalized as you want it, it will influence the price.
Also, you should value the idea of delegating the creation of your website texts to a professional copywriter . In my case it was one of the profiles that I first hired in my team. Your rates for a basic website (consisting of home, about me, services and contact) can cost around € 700, but remember it is only an estimate, the more pages, more text and therefore more price.
➡️2) Organic positioning (SEO)
Whether you already have your website or if you have just created it, you need to be found on the internet . One of the most effective ways to attract visits from search engines like Google is to work on organic positioning or SEO.
Although it is true that it is not an immediate results strategy , that is, you will need a few months to achieve your goals, it is essential. to invest. Either hiring a monthly service or an audit and implementation of specific improvements.
Organic positioning is a strategy that requires technical knowledge, again I recommend that you invest in experienced professionals.
