Where Is the Money Going?
It’s the end of the year, and if you’re like most of our readers, you’ve probably got budgeting on the brain. You’re probably wondering how you can stretch every dollar you can spare for expenses, asking yourself, how much should I spend on marketing in 2019? How can I be sure I’m using my marketing budget well? What is everyone else spending their marketing money on?
Current trends on marketing spending indicate that digital marketing is increasing its prevalence over traditional methods like direct mail and radio. Digital marketing now comprises, on average, 35% of all marketing monies spent by businesses. In 2018, marketers spent over half their advertising dollars on video, most of that digital. The yearly Chief Marketing Officers’ survey projected that digital marketing will make up 44% of advertising budgets in 2019, 46% by 2021.
However, some traditional methods of advertising are still going strong. Printed ads in magazines are a good example, as well as in-store displays, but one traditional method that is more exciting than ever for 2019 is promotional products. In 2018, a survey found that 87% of participating businesses said that promotional merchandise was a major factor in making or exceeding their goals, and over half reported increased interaction with clients. To that end, Digital HD Advertising is proud to offer a line of branded pint glasses waiting to sport your company’s name and logo. Promotional merchandise creates brand familiarity and positive brand association. What could be friendlier than your go-to tote bag, your favorite pen, the best bar in your neighborhood?
Where Is the Money Coming From?
Planning your marketing budget isn’t only about following market trends but about what produces the best ROI. What do you want to get done in 2019, and what will take you there? We’ve compiled some items and methods that marketers are using to generate the most value for less cost.
* Video advertising. Video is a powerful advertising tool, easily consumed and shared by the public. It can be used in diverse environments to tell any story desired.
* Social media marketing. Social media is a perfect venue to blend selling your product, connecting with your client base, and strengthening your brand.
* Mobile marketing. Creating mobile-friendly ads that generate visits instead of annoyance shows that your brand has experience and talent.
* Email marketing. When used skillfully, email marketing informs and attracts new and returning clients instead of turning them off.
* Display ads. A well-timed, well-placed ad catches the eye and keeps it. Display advertising is versatile and can involve text, audio, and interaction.
* SEO. Search engine marketing is a vital but often overlooked area of digital advertising, influenced by keywords, content marketing, and more.
* Merchandising. If you give your customers an object they can use with your logo on it, that gets your brand in front of them multiple times a day. For what you spent on the item, the visibility you get is huge.
Dollars and Sense
Now that we know where the money is going, how do you calculate where to allocate your funds? Online calculators for businesses are available, and can give you a sense of the factors to consider, but we recommend using a professional marketer before you spend anything or plan a campaign.
Because it’s fun to change things up a bit, we’re going to use a little reverse psychology on you today and give you a guideline on how to squander your marketing budget in 2019.
* Definitely don’t calculate your ROI and analyze what advertising methods and media tools are working well for you and which aren’t earning their keep. That would only be a waste of time.
* Don’t analyze your current market and find out who your best customers are, what you did to bring them in, and what keeps them loyal to you. That could improve client retention and generate positive word of mouth.
* Don’t investigate market niches you can get into and make a killing. Don’t let these new areas of focus become a part of your brand or advertising campaign either.
* Don’t check out what new markets you can get into that will love your brand. Never ever think outside the usual. Globalization is just a fad and international markets won’t have any interest in your product or service.
* Don’t even think of using a professional marketing and advertising strategist to help you calculate and plan. What do they know?
* Definitely keep doing what you’ve always done. Don’t evolve with the times or concern yourself with relevancy. Your comfort zone will never let you down.
* Don’t use social media. Facebook, Twitter, Instagram, YouTube, they’re all just playpens for kids, and we all know that the youth don’t wield any influence.
* Ignore new platforms, like Vero and WhatsApp. They won’t go anywhere. Don’t bother investigating new technology, like customer service AI, that can answer questions and provide resources.
* Don’t pay attention to your competition. Why would you want to find out what they’re like so you can make sure you stand out? Being aware of the strengths and weaknesses of rivals never did anyone any good.
What’s Next for Me?
What is marketing at its most basic? Marketing is getting attention and keeping it to make a sale. To be good at it, you follow the client’s eyes. To be great at it is to tell them where to look. To be the best is to know what your market wants to look at before they do, and to supply it expertly. The demand for high-quality digital marketing is at an all-time high and increasing. To meet that demand is to accept only the best content and techniques for your company’s marketing campaign in 2019. To beat the competition is to explore all the ways you can reach out to new and existing clients, whether that’s with a two-story digital sign or a pint at their favorite pub. Let Digital HD Advertising help you smash your competition and strengthen your brand. Write us today