Setting a Marketing Budget for the New Year

Setting a Marketing Budget for the New Year

Why It’s Important to Set a Marketing Budget

Setting a marketing budget for the new year should always be a part of your annual planning. Too often we meet with new clients who want to hire a Jersey Shore marketing agency without a predetermined marketing budget. Sometimes this is because they have little money set aside for this purpose, and that’s OK. We’ll help you determine which marketing channel will give you the best bang for your buck, and start small. Once you begin seeing a return on investment, we’ll ramp things up a bit, and really give your marketing some reach!

How to Spend Marketing Money

More importantly than determining how much money you should spend, is how you should spend it. You can spend thousands of dollars each month on marketing with very little increase in business if you’re not spending it the right way or in the right place. We recommend dividing your budget into two parts, brand development and promotion. Brand development consists of your logo, website, business cards, brochures, and any other materials that make you shine and stand out. Promotion is advertisements in any form, from direct mail to magazine ads to Facebook Ads and Google AdWords PPC pay-per-click advertisements.

Your company’s industry and location will determine the right mix of these marketing types. In some cases, a company’s target audience may still use phone books which makes it a worthy place to advertise. Whereas for others, it would be a complete waste of money since their ideal client base Googles everything, including phone numbers. Another great example is the use of direct mail. Some people think direct mail is dead, but in reality, you’ll still see 2% and 3% returns on direct mail campaigns. When designed the right way for your specific target audience, direct mail pieces can definitely generate leads.

How Will We Know If It’s Working?

Not only will we be able to know IF it’s working, but we’ll be able to specifically track how well each campaign works! Digital marketing makes it so easy to individually track each campaign and compile statistics to measure it’s response, giving you solid information for your ROI report. Always know what’s working and what’s not to get the best return on your marketing dollars.

Getting Started with Your Free Marketing Evaluation

Whether you want to improve your current marketing strategy or create a new one, a fresh plan full of creative ideas may just be what you need to succeed. Most New Jersey marketing agencies, like us, will work with you to decide which marketing tools will be right for your company. Our free 30 minute, in-person marketing evaluation will review your current marketing situation and explore new ways to improve your approach. Contact us today to schedule your free marketing evaluation.