What Should Your 2018 Digital Marketing Budget Be?

  • By Jackie Petre
  • 13 Dec, 2017

Assessing Your 2017 Marketing Campaigns and Planning Your 2018 Strategy

It’s no secret that planning your business’s finances for the upcoming year isn’t always easy. Digital marketing budgets in particular tend to confuse many business owners who are trying to decide how to spend their money in 2018.

Where should I be spending the most money?

How do I know if I’m spending too much or not enough?

These are common questions we get when it comes to creating a marketing budget. And while not everyone should be spending the exact same amount, we can help you determine how much of your budget should be going to digital marketing strategies, and how to apply what you learned from your 2017 campaigns to your 2018 strategy.

What are Other People Spending?

Let’s start with what data is telling us.

Reports from Forrester Research and eMarketer found that in 2018, the average firm is expected to allocate 41% of their marketing budget to online mediums, growing to 45% by 2020. This proves the importance of investing in various digital marketing methods, and gives you an idea as to how much of your overall marketing budget should go toward online campaigns like PPC, SEO and email marketing.

When you’re assessing how successful your 2017 digital marketing efforts were, there are several questions you should ask yourself to determine how this year’s campaign went. Your answers to these questions will then help you establish your 2018 digital marketing budget and show you where there’s room for adjustments.

When planning your 2018 digital marketing budget, ask yourself these questions.

Did you track how much you spent on digital marketing and your ROI? How well did it go? 

This is the most important question to ask yourself. If you’re putting money into your business’s marketing strategy, you should definitely be able to say how much you spent in the past year and what your return was. For starters, you shouldn’t be spending more than you’re making.

Comparing the amount you spent on marketing versus your ROI from those marketing efforts will tell you whether or not your money was well spent. From there, it’s up to you to determine if your current digital marketing strategy is worth it or if it’s time to make adjustments.

Where were the pitfalls? Were you spending money in the wrong places?

Take a look at where your money seems to have been wasted the most. Was your cost per acquisition too high due to a costly PPC campaign? Or did your SEO strategy not help you show up in the right places? Not every digital marketing campaign is the same, so what works for some businesses might not work for you. It’s important to keep that in mind if you see one area lacking.

Because the world of digital marketing is always changing, there’s a good chance adjustments will need to be made frequently. If you don’t keep up with shifting trends and how your business is being affected, you could be wasting your marketing budget.

Which of your digital marketing strategies worked out the best? How can you improve on them? 

While it can be easy to focus on the negative parts of your business—which you should still address—you should also look at what strategies worked out the best. Did your social media presence help you get more website traffic? Was your local listing the source of most of your phone calls? These are the areas in which you should keep investing.

If a particular strategy or two are working better than others, consider using the money you spent on the unsuccessful campaigns and reinvesting it in your more successful ones. Instead of spending more money, you’ll just be spending it more wisely.

Assess Your Answers

These are all questions you should be able to answer for yourself so you know how well you did this year. Too often, we get customers who come to us from a different digital marketing company and say they have no idea what their current company is doing for them, what they have done or how it’s impacting their business.

If you don’t know the answers for these questions off the top of your head, talk to your marketing team about your strategy. It’s important to understand how and where your money is being spent, and any digital marketing company should be able to explain these answers to you.

Now, Use these Results to Create a Budget for Next Year

Hopefully, you’ve now determined your cost per lead and cost per sale for all of your digital marketing avenues. From there, you can budget how much you need to spend to get the same or better results next year.

Your budget won’t be the same as everyone else’s, so we can’t tell you the exact amount you should be spending. But by analyzing your 2017 results, you will understand where your money is going, whether it’s getting you quality leads and if it’s worth it. Then, you can adjust your strategy and determine how you want to allocate your marketing budget for this upcoming year.

And if you still feel you’re spending too much money on your digital marketing after assessing your results, you might want to consider a different strategy or company.

The Science Behind Digital Marketing

By Jackie Petre 19 Jan, 2018

What exactly is a local citation? It’s any listing of your business’s name, address and phone number (NAP) on various websites, apps, local business directories and more. Simply put, it’s any online mention of your business’s contact information.

Think of all the places these listings appear online: your website, your social media pages, Yelp, Google, etc. These are all your local citations.

By Jackie Petre 11 Jan, 2018

With the influential role social media plays today, many small businesses are adding social media advertising to their digital marketing strategy. Facebook in particular has grown to offer small businesses more than just an opportunity to socially connect with consumers.

In a recent blog post , we touched on the fact that many successful small businesses are expanding their online presence to include Facebook Ads. The popular social media outlet is now a top platform for paid advertising, allowing business owners to advertise to a highly specific audience. And while there are many benefits to using Facebook as one of your digital marketing strategies, there are certainly a few areas to be mindful of as well.

In this blog post, we’ll cover:

  • The many benefits to using Facebook Ads for your marketing strategy
  • How you’ll see a change in your social return on investment (ROI)
  • A few concerns we want small businesses to be wary of when doing your own Ad campaign

Here’s what you need to know to start a successful Facebook Ads campaign for your small business.

By Jackie Petre 05 Jan, 2018

Most small businesses start with a simple website. You might include basic information about your products and services, contact information and maybe an “about us” page. As your business grows, however, your website probably will, too.

Over the years, we’ve had many small businesses come to us wanting a small website with little content and a small marketing budget. But as those businesses grow and gain more traction, we’ve seen that the vast majority of business owners decide to upgrade their websites and overall online presence to better reflect their growth.

Last year, Locallogy introduced our very own website platform called the Locallogy Rapid Platform . Initially, we saw this as a great opportunity for clients looking to upgrade their websites with a cost-effective service that lets them customize their site. We quickly saw that this was a popular option with small business owners—both current and new clients—who wanted to update their websites without blowing their marketing budgets.

By Jackie Petre 22 Dec, 2017

The recent repeal of net neutrality by the Federal Communications Commission (FCC) seems to have everyone up in arms about the future of the internet.

Will consumers have to pay more money for a connection to the internet? Probably .

Will popular streaming services like Netflix increase membership prices to keep up a faster speed? Most likely.

Will finally be forced to pay to use social media? Possibly .

These are all very likely possibilities if the repeal does actually go through. But one of the questions our team at Locallogy has been dealing with is how will the repeal of net neutrality affect the group most of our clients—and ourselves—are part of: small businesses?

Most small businesses today depend on the internet to deliver products or inform clients on services. With that, they also rely on a free and open internet to keep up with larger businesses that could have an advantage if the internet were to become more expensive.

So with the threat of repealed net neutrality, what does this mean for the future of small businesses?

First off, let’s start with what’s happening.

By Jackie Petre 20 Dec, 2017

During a recent local search, one of our digital marketing experts discovered an interesting new feature popping up on listings. It seems that Google has added snippets of business reviews to local pack listings, particularly reviews that include keywords from your search. This doesn’t appear to be a standard feature yet, but one that’s currently in a test phase.

You’ll notice that certain words are bolded in the review, correlating with keywords from the search. The reviews that show up depend directly on what keywords are used in the search query. So, depending on the wording of the search, the reviews that show up for each business will change.

By Jackie Petre 13 Dec, 2017

It’s no secret that planning your business’s finances for the upcoming year isn’t always easy. Digital marketing budgets in particular tend to confuse many business owners who are trying to decide how to spend their money in 2018.

Where should I be spending the most money?

How do I know if I’m spending too much or not enough?

These are common questions we get when it comes to creating a marketing budget. And while not everyone should be spending the exact same amount, we can help you determine how much of your budget should be going to digital marketing strategies, and how to apply what you learned from your 2017 campaigns to your 2018 strategy.

By Jackie Petre 07 Dec, 2017

Keeping up with today’s expanding online services can be difficult. Even more difficult than keeping up with them is figuring out how to use them efficiently, especially when you also have a business to run. From posting regularly on a variety of social media platforms to navigating Dropbox and other cloud-based services, it’s easy for technology to make our lives more complicated than simplified.

But what if you had a system that could create workflows by linking all the software you use on a daily basis and automatically performing the repetitive tasks you hate doing?

Tasks like saving your email attachments to the appropriate Dropbox folder, or creating one single social media post that gets published on all your company’s social media accounts can easily be done on their own. We’ve found a few services that make automating your daily tasks simple and effective, giving you more time to run your business.

By Jackie Petre 29 Nov, 2017

We know that many business owners are skeptical of pay-per-click advertisement (PPC) and might think digital marketing companies are only promoting it to make more money. They know how important organic SEO rankings are and only want to focus on those, since organic rankings are both crucial and free.

The fact is, however, that PPC actually has the potential to help boost your organic rankings.

We are the first to acknowledge the importance of SEO and doing everything you can to show up higher in organic search results. And while PPC doesn’t directly affect the organic ranking of your website, there are indirect ways your organic ranking can benefit from PPC ads.

Here are three ways paid advertising can positively affect your website’s organic search engine rankings.

By Jackie Petre 17 Nov, 2017

If you’ve ever read content on the Internet—a blog, product pages on Amazon, instructions on how to tie a tie—you know that visuals are essential to keeping you on the page.

So as the manager of your website, you realize just how important images are to keeping your visitors engaged and interested in what you have to offer. For product- or service-based businesses in particular, quality images can be the difference in total success or total failure of your site.

But did you know that images can do a lot more for your webpage than just supplement your content?

That’s right. Your images, just like your content, can be optimized for SEO benefits, making them more search-engine friendly. Optimizing your images for SEO benefits will give your page an added boost by including more keywords and giving Google more content to rank in searches.

By Jackie Petre 10 Nov, 2017

Getting customers to leave you reviews is one of the most important marketing strategies you can use. You know it. We know it. Let’s move forward.

Many businesses have reviews all over the Internet, from Yelp to Facebook and everything in between. But what’s the point of having an abundance of solid reviews if potential customers aren’t seeing them at the right time—when they’re on your site looking at your services? We fully believe that all business owners should display their reviews on their website in a way that proves your reviews are legitimate.

Our solution: an online review presenter.

More Posts
Share by: