Digital marketing is not getting cheaper and the various mediums will only become more competitive through 2018. Every business needs to maximize their marketing dollar. For companies that don’t have a fixed marketing budget, the eventual expenses through 2017 have been around 7% of their total revenue. Companies that have fixed budgets have spent around 11.5% of their total annual revenue on various types of marketing campaigns. How much you can spend is of course entirely your call but you must ensure you generate the maximum traction to maximize your marketing dollar.
- The first pragmatic step is to have an extensive marketing plan. While companies may or may not have a stringent budget, they should always have a plan of action. Marketing campaigns cannot be planned randomly. There can be some flexibility to respond to changing situations but the business has to be in the driving seat. Companies should know how they wish to spend their marketing dollars, whether to prioritize organic search engine optimization or pay per click advertisements, if buying videos will be more effective or sponsoring posts and ads on social media will generate greater traction. Companies must have a comprehensive list of everything that should be done through the course of the year, from planning local events to hosting promotions on special holidays, website redesign to perennial public relations.
- Companies should have a mobile friendly website. A traditional website may have a responsive design that would enable the same site to be available on all browsing mediums. There could be a mobile first website design in place as well. As more people use their phones to make online purchases, not having a presence on smart phones, be it through apps or mobile websites, will be a seriously lost opportunity. If there are two different sites, then they must be identical or at least have the same messaging, theme and overall branding strategy.
- Every company must spend money on public relations. Today, public relation has become an integral component of digital marketing even for small to medium enterprises. This is primarily because of the need to maintain the online reputation of the organization. Not every business will be able to hire public relations agencies so one must explore local events, ways to stay in touch with the local community, participating in charities and capitalizing on networking.
- Every business needs to use social media. One of the best things about social media is that your mere presence would not cost a cent. If a company doesn’t have to hire a social media marketing team or an online reputation management expert, then the whole social media engagement can be planned and executed in-house, which can save a lot of money. It is time consuming and not always predictable but social media management can be a captive process.
- Focus on targeting and engaging your audience. Many companies fail to engage their audience with the content after being able to generate sufficient traffic. You must focus on search engine optimization, content marketing and social media management so you can draw enough traffic from multiple sources but eventually it would be what you have on the website that will determine if your audience is convinced enough to make a purchase. This is why you should hire the best content developers and digital advertisers.
About the Author
Morris Edwards is a content writer at CompanyRegistrationinSingapore.com.sg, he writes different topics like Why Is Singapore Preferred For Incorporation By Start-Ups?, Guide to the Singapore Tax System and all topics related to doing Business in Singapore. If you need Company and Business Registration in Singapore Contact Us or visit our website.
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