Black Friday Sale - Up To 57% Off
Use the RACE Growth System to develop your digital strategies, improve process
efficiency and stay relevant with the latest digital marketing techniques including AI
See what's includedAs we start the new year many marketers will have already been negotiating their advertising budgets for the coming year. Once approved the next major hurdle is to decide how to split that budget across the multitude of channels that are available. Search, Display, Facebook, Instagram, Snapchat, Twitter, Pinterest the is seemingly never ending, So how do you decide?
Today's chart of the day highlights that marketers like to hedge their bets when it comes to their marketing budgets, which is a good strategy, as it's risky to have "all your eggs in one basket".
As shown in the chart below the highest proportion of the budget is reserved for traditional advertising which makes sense when you consider the costs associated with Radio, Print & TV advertising. Now if we combine Social and Display you get a substantial 27% of the budget, which is a little surprising when you consider that these channels often deliver the fewest sales when compared to SEO and Email marketing.
If you are currently in the process of assigning your advertising budget or feel that you would benefit from a little more structure to your budgets our Digital Marketing Planning Spreadsheet Template will help you to set your overall budget and quickly adjust the % investment in different media channels to see the impact on your forecasted results.
By Patrick Kelly
I have spent many years working with both B2B and B2C brands to implement data-driven marketing strategies covering paid search, SEO, Social media and marketing automation. You will also find me catching up on the latest Marvel releases or playing the latest RPG.
Turbocharge your results with this toolkit containing 11 resources
The Digital Marketing Strategy And Planning toolkit contains:
Start your Digital Marketing Plan today with our Free membership.
Recommended Blog Posts
Evaluating technology options for innovation in marketing – do you know your Hype Cycles? If you’re involved in marketing strategy development, you will be constantly making judgments and reviewing with colleagues which digital technology innovations are most relevant to your …..
How to strategically manage your marketing spend with 8 integrated simple marketing budget templates Setting strategic and channel direction, working toward commercial objectives and KPIs, and monitoring your success is great. But if you’re not tracking your ROI per channel …..
Using capability maturity models to audit your digital maturity and set targets to improve digital marketing effectiveness We’ve been adding to our visual tools to help all members assess how well their businesses are adapting to using digital media and …..
