How to Define The Optimal Budget for Your Marketing Campaign

All small businesses need a good marketing plan to help it reach its targets and aspirations. With every marketing plan comes a marketing budget. You can say they go hand in hand. Creating the optimal marketing budget will ensure you spend the right amount of money in the right places to achieve your marketing goals. Creating a marketing budget used to involve a lot of trial and error which can lead to unnecessary expenses and ineffectiveness. But nowadays with everything becoming easier thanks to the amount of information available on the internet, so is creating the optimal marketing budget, everyone can do it.

Small business owners are finding new ways and techniques to plan out their strategies and design successful marketing budgets. It all comes down to how much are you willing to spend to acquire new customers and increase your brand awareness.

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Setting up your marketing goals

Before setting up any kind of budget it is important to ask yourself these questions:

·      What goals do you want to achieve?

·      Who is your target audience (your ideal customer profile)?

·      How much are you willing to pay to achieve your goal (be it a new customer, new website visit or app download)?


Depending on your answers, you should get a clear picture of who you aim to approach, what is it you want to achieve and how much you are willing to pay per unit. You may not get the answers and results you want immediately, but thanks to continuous testing and optimisation, you will step by step get closer to achieving your overall goals.


Targeted audience and sales funnel

It is important for small businesses to research and find out who are their potential customers and how to reach them. By knowing your targeted audiences age, income, demographic, geographical area and likes will help you figure out a plan to successfully guide them through your businesses sales funnel. Sales funnel data is another key tool to creating the right marketing budget because it lets you track results throughout your revenue cycle and gives you an inside view on potential customers.

Marketing funnel
Marketing funnel

All of this information will help you effectively build a marketing budget.


Building your budget

There are a lot of different opinions going around when it comes to how much money you should spend on marketing. But you should know that normally to make money you need to invest money. In this day and age, it is nearly impossible to run a business without marketing. The recommendation for small businesses is to allocate a percentage of their gross revenues to marketing, usually between 6-10%, splitting it then between different marketing platforms depending on your targeted audience and goals.

 

You can also test the waters and start off with a smaller budget and slowly build it up after you get the hang of it and find out what marketing ads and campaigns work best for your business. So, you don’t have to worry about losing money.

List of platforms

After setting up your budget and selecting your targeted audience it is time to choose the platforms you want to use during your campaign. This will help you divide your budget up into different portions and prioritize the best platforms for you and your business. By selecting the best platforms for your marketing campaign, you will be able to put your money in the right places. Create a list from most important to least important platforms. The options may include:

·  Search engines optimization (Google, Bing, Yahoo)

·  Social media (Facebook, Instagram, Twitter, LinkedIn, Snapchat, Pinterest)

·  Content marketing (Blogs, Video content, Podcasts)

·  Influencer marketing

·  Email marketing (Newsletters)

 

In the end it is up to you to decide how much money will be spent on each online platform and you will always be in control of the amount of money going into your online marketing.

Return on investment (ROI)

Before dividing your budget up into portions for each platform it is important to test the potential cost and return on investment for each one. Some platforms will cost more than others and will have a higher ROI. That doesn’t mean that less expensive ones will perform worse. Some will bring immediate results and others will over a longer period of time. It all depends on your marketing plan and what are your long and short term goals.


Here is how you calculate your ROI: [(return - investment) / investment] * 100, where return represents what you earned, investment what you invested in the campaign. To give an example, if you invested 10 USD to a campaign that brought you 100 USD, your ROI is 900 %.

Tweaks and changes

Never be stagnant. After you have finished your marketing plan, set your marketing budget and your marketing campaign is up and running, keep looking for ways to learn and improve. There is never a 100% right or wrong way in building your budget. Follow past and future trends. Keep track of the results from different platforms. See what is working and what is not. What needs to be changed and even what maybe has to be removed completely. Constantly evolve with the times. Use techniques that are proven to work but also don’t be scared to try new ones. 


A marketing plan and budget should consist of traditional approaches as well as new up and coming ones. With the world of marketing evolving every day it is important not to fall behind.

 

In conclusion your marketing budget doesn’t only mean how much money you can spend on marketing, but it also involves choosing where to spend your money and on what platforms. Make sure to do your research on where to put your money and who to target. Decide how much you are willing to pay to acquire new customers and grow your business. In the end always remember to make money you need to invest money.

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How to Define The Optimal Budget for Your Marketing Campaign

All small businesses need a good marketing plan to help it reach its targets and aspirations. With every marketing plan comes a marketing budget. You can say they go hand in hand. Creating the optimal marketing budget will ensure you spend the right amount of money in the right places to achieve your marketing goals. Creating a marketing budget used to involve a lot of trial and error which can lead to unnecessary expenses and ineffectiveness. But nowadays with everything becoming easier thanks to the amount of information available on the internet, so is creating the optimal marketing budget, everyone can do it.

Small business owners are finding new ways and techniques to plan out their strategies and design successful marketing budgets. It all comes down to how much are you willing to spend to acquire new customers and increase your brand awareness.

Read >>

10 Facts to Know About Facebook Demographics & Stats

With 400 new users every 60 seconds, Facebook is not only the biggest social media platform, but it is continuously growing. Today, there are more than 2,4 billion users which is roughly 60% of all internet users. Nonetheless, some say its audience is getting older as younger internet users are getting excited about platforms like Instagram, TikTok or Snapchat. In this post, we will dig into the most important Facebook demographics and stats, so that you can get a better idea of who to target while creating your marketing persona and your plan on how to reach him or her.


Having a clear picture of how a channel grows is a key component to starting your marketing plan – promotion and content distribution. If you offer sneakers and target youngsters, relying solely on Facebook may not be the best tactic… Why? This audience is more likely to be found using social media platforms, such as Instagram or Tik Tok. Knowing your audience and stats behind the channels you want to use is crucial.


Let's finally dig into the most important Facebook demographics and stats!

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6 Things to Avoid When Hiring a Marketing Agency

For anyone who’s not an expert in this field, marketing strategies, SEO or social media can be like a maze. If that’s the case, navigating through it can get super difficult sometimes. However, that’s okay! Marketing agencies exist exactly for that reason — to help business owners and entrepreneurs efficiently use their business’s potential in the name of marketing. Naturally, you want your business to grow. You decided that it’s time for you or your firm to start working with a marketing agency. Good for you! But where do you start? How can you make sure that you choose the right one? There are so many questions that might seem tricky, but this list of things you should avoid will answer the most crucial ones.

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How to Target People According to Their Interests

Have you ever wondered about how it is possible that you actually like the products you see in your feed? That is because of the targeting. You should always know who you are talking to. Who is your buyer persona? If you know it, you can tell Facebook what your potential customers look like and Facebook will target them.

Facebook allows you to target custom audiences, lookalike audiences and saved audiences. The saved audiences are our topic in this article. Those are the audiences that you can define by choosing people’s interests or location, demographics, used devices, income level, etc. You can create Saved Audiences both in the campaign setup phase or in the Audience Manager. To narrow or broaden your audience, you can combine those as much as you like!

Regarding demographics-based targeting, you’ll get plenty of topics to refine your audience based on many options. The basic 3 are: Age, Gender and Language. That’s easy.

Location targeting allows you to pick the whole country, a city, or a specific radius around a pin you drop on the map. Imagine you are a realtor and you have a perfect house to sell in California! As an example, you can target people currently traveling or planning their next trip right there… To read more about the location targeting, read this article.

Facebook Targeting audience
Facebook Targeting in Ads Manager

What is interesting here is the interest-based targeting! Interests are one of the best (and easiest) targeting options. They allow you to target people interested in a specific subject related to your product. Does it sound like a good option to target people interested in your competitors or the market segment you are in? To target people based on interests, you can either browse the menu with hundreds of interests or simply type some of them in and see what Facebook can suggest and offer you.

Everytime you edit your audience, you can check your potential reach and estimated daily results based on your campaign objective.

Facebook Targeting
Facebook Interest Based Targeting in Ads Manager

How does Facebook know? The interests are based on its users’ likes, apps they use, Pages they’ve followed, and more. Adding more than one interest will target people with at least one of them so you’ll broaden your reach.

Behaviour-based targeting allows you to target Facebook users by their purchase history, events they were interested in, personal anniversaries, etc. This data is gathered by Facebook analyzing many factors and also using external data sets.

You can include or exclude people based on another kind of information or connections e.g. ads they click, pages they engage with, the mobile device they use or the speed of their network connection. Interesting, huh? You can read more in Facebook article about best practices for detailed targeting.

Pretty much everything is summed up in the picture above. To save your time, save your audiences, so you can always use them again, copy them to make small changes and have a brand new one.

To read more about this topic, you can download our e-book below!

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Best Social Media Scheduling Tools You Want to Use in 2020

Being active on social networks pays off in the long run. Customers expect you to be active. It is a sign that your business is performing well so they can rely on your services and products.


If you think about accurate presence in digital space, it often counts number of social media profiles. I think you would agree that communicating and publishing content on social media can be a bit time consuming…or a lot.


This activity is very important, but can be done automatically. The right tools will help you publish posts in just a few clicks. Moreover, at the right time, because within each social network there are different and more effective times in which to contribute to different target groups.


There are hundreds of tools available on the market that offer different features in different price ranges. This article is a selection of several proven applications to help you.

Buffer

A well-known and easy to use tool for scheduling your social media posts. This should be your starting point for these kinds of apps. Buffer allows you to connect all major accounts and it’s manageable from your smartphone.

Free plan: 3 social accounts, 10 scheduled posts, 1 user.

Pricing: from $15/ month

Kontentino

When it comes to scheduling posts and getting permission to publish, Kontentino is the tool you need.

Free plan: NO

Pricing: from $54/month


Hootsuite

An all-in one marketing platform. It offers auto-scheduling so Hootsuite automatically picks the right time to post. It even supports the import of hundreds of social media posts at once, in CSV format. With an easy-to-use mobile app, you can manage your content and scheduling on the go.

Free plan: 3 social accounts, 30 scheduled posts, 1 user

Pricing: from $19/month

Planoly

If you are focused on Instagram, Planoly should be in your choice. This mobile app will allow you to visually plan your feed, schedule posts and even add stories. You can reply to your comments directly from Planoly and analyze all data.

CoSchedule — Editorial Calendar

With CoSchedule you can organize your blog and social media content in one place. Editorial calendar in CoSchedule has a great UI, where you can plan posts by drag and drop.

Sked Social

The former Schedugram is now Sked and is a tool for scheduling and automated adding Instagram Stories. In addition to scheduling Stories, Sked also offers Visual Planning, so you can view the wall and see what it looks like without having to add individual posts.

Free plan: NO

Pricing: from $25/month

Postify

The biggest advantage of Postify is that it is free. Only when you need to connect 15 accounts or more do you have to pay $9.99 per month. Although, Postify is not the most visually app-friendly application, it does its job and this makes it a very good tool.

Free plan: Yes

Pricing: from $9.99/month

Later

Probably the best Instagram automation tool. It also offers the ability to publish to other platforms, but focuses on Instagram the most. It offers a mobile app that captures all setup and publishing.

Free plan: 1 account per platform, 30 scheduled posts, 1 user.

Pricing: from $9/month


Scheduling for Facebook

Even Facebook itself offers a feature to schedule your posts. Just create a post in Publishing Tools, select Schedule and pick a date. It is that easy. There's only a small problem, because it doesn't allow you to publish a post into multiple social media profiles. But still, scheduling multiple posts, as opposed to one per day, can still be an excellent time-saver.

Free plan: unlimited

TweetDeck

If you are focused on Twitter, TweetDeck could help you with scheduling your posts. It is an app directly from Twitter. It has some basic features, but it is easy to use.

Free plan: unlimited

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10 Best Tips to Get More Followers on Instagram

Do you run your Instagram account, but see it is not as successful as other businesses' profiles? 


Building up a community on Instagram is really difficult and it takes a long time to gain followers who are engaging with your content. To find your followers, it is crucial to maintain content that is relevant, entertaining, consistent and frequent. Once you master this, you can start to build a larger following of Instagram users for your profile.


So what can you do to get more followers?


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