Ready to maximize your marketing budget in 2019? There are a few, key strategies that have emerged as proven winners that can help brands succeed. As marketers navigate the ever-changing waters of the industry, it can feel impossible to keep and allocate spend accordingly. However, there may be foundational tactics you’ve overlooked due to chasing the next big thing. See how you can drive the biggest ROI from your marketing budget this coming year by using what you already have to make room for what’s upcoming.
In 2019, don’t hesitate to invest in experimental marketing options. Allocate a small share of your marketing budget to new technologies, new customer segments, and new content. For example, $100 spent on Amazon advertising may seem inconsequential, but the data gleaned from this investment can deliver important insights. Test tools to help automate the process. Spend money on improving resources you already have to increase performance. Shift dollars to channels previously unused.
Repurpose the Good Stuff
High-quality content creation isn’t cheap, but any brand that thinks it has to create new content all the time may be spending money unnecessarily. Instead, create content that can be repurposed in other ways, such as video, social posts, or emails. Additionally, ensure a specific percentage of the content on your site is evergreen. Keeping content creation to an acceptable level is a surefire way to make the most of your 2019 marketing plan and budget.
Even the best-laid plans need room for growth and improvement. It’s best to continually test where your budget is most helpful to your goals. Certain tactics like SEO take time to fully develop, which measuring those goals will look differently than the goals you have for your paid advertising campaigns. Know there is always a new algorithm update, tool, or medium just around the corner. Be prepared to adapt and adjust your spend accordingly.
Segment Customers Effectively
Many companies make the mistake of trying to be everything to everyone. Marketers who target prospective customers in a general manner tend to see less-than-stellar results. Instead, create targeted marketing campaigns that place your product in front of high-potential customers to maximize ROI. Set regular times to review your audiences and adjust throughout the year as needed. By doing so, you won’t spend money on an audience that is no longer relevant to the campaign.
This is certainly an example of an “evergreen” concept, as hiring experts to create, manage and fine-tune your brand’s marketing campaign will never go out of style. Experts tend to use more advanced analytics programs, have access to deep wells of talent that bring diverse ideas and perspectives, and have years of experience to draw upon that they’re less likely to make “rookie-level” mistakes.
This year, maximize your marketing budget by keeping these five tips in mind. These guidelines, plus an all-consuming focus on creating the ideal experience for your customers, will ensure you reap the highest probability of success in 2019.