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| Does My Company Need a Digital Marketing Budget |
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| FAQs |
| Written by Mary Mangold |
| Monday, 01 September 2008 16:12 |
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I recently entered into an online discussion concerning the merits of a Digital Marketing Budget. I received a number of insightful answers from experts who are members of eMarketing Association Group at LinkedIn.com.
The question posted went like this: Do you agree that most businesses should have a digital technology budget? An online presence brands your business and relative to the project implementation, usually increases company revenues.Here are a few of the answers posted on this topic:
Doug Guy, Director, IS & Operations at Office Depot had this to say: Most small businesses fail to understand that having a digital marketing budget is as important as spending on a local ad in their newspaper. The new shift is research online before stepping foot into a store, so without an online presence, they are putting themselves at a disadvantage by not being "found". I explain to my clients that for the money they dump into Yellow Pages, they should change and invest in some internet brand building. Many of my SMB clients are seeing ROIs of over 150% in their investments AND they have a much farther reach than what they normally had with traditional marketing.
Sid Bidlon, Self Employed Information Services Contractor said: Absolutely. From a consumer perspective, I always research online before making a move. From a marketing perspective, once it is built (and properly maintained, technology and content), it is an amazingly cost effective tool.
Cheryl Ann Bourne, DIRECTOR OF PHARMACEUTICAL MARKETING at SKYSCAPE chimed in with the following claim: Without a doubt! Look at where people go for information... the Internet... and have a presence there. In fact, I think virtually all businesses should have the majority of their marketing budget in digital. WHY DO I NEED A DIGITAL MARKETING BUDGET?If your business has not yet engaged in establishing a Digital Marketing Budget, perhaps its time you start considering one. Falling back on the same old methods year after year means you are treading on an old fashioned business model that may send you the way of the dinosaur.
Consider that a large portion of your marketing efforts are being directed into high priced print advertising that has a definite fixed lifespan. The magazine or newspaper is circulated, your ad is present, and then it gets put on a shelf or in the circular file, never to be seen again. Nonetheless, print media exposure will still play a role in your budget, but these traditional placements of advertising will shrink and shift following the planning and implementation of a Digital Marketing Budget.
A Digital Marketing Budget will place more emphasis on your online presence and will help your company to map out a plan with specific goals to measure against. You will create marketing objectives that will not only provide intuitive, relevant content that your customers will have access to 24/7, 365 days a year, but the new direction should also consider measurable action items. Today, wired consumers who don't want a sales pitch but rather are drawn to the expertise and resourceful information you provide that sets your business apart from your competitors.
Immediate result-seeking is not a part of this plan. A thorough investigation of what your competition is doing, evaluation of the strengths and weaknesses of your business model, and a well thought out plan to ring in the new year with a branded image that includes online connection with your target audience, are steps that must be taken to properly establish a Digital Marketing Budget. Also of great consideration are the skills and capabilities of your staff to responsibly and creatively roll out the online objectives. Are there staff members available, with appropriate skills to match, who can support the endeavors required to deliver unmatched resources on your website? If not, content writers, designers and project managers are willing candidates to contract for these services. In order to find the right service provider, you must complete your due diligence to determine if the qualified candidates you have identified through questioning business associates and other colleagues are the right match for your business.
Today, connected consumers are using the vast online resources at their fingertips and will search for the product or service provider that rises to the top as an expert in their field. These are the tenants of our modern experience - a paradigm shift in the behaviors of consumers today. Join the content revolution, or you may find your business slipping from site. Don't go the way of the dinosaur. Join the content revolution and get started on your Digital Technology Budget right away!
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| Last Updated ( Sunday, 05 October 2008 15:27 ) |