How much is it to invest in digital marketing?
As a general rule the main areas in which emerging entrepreneurs focus their attention, are those of production, distribution and generation of social media presence. However, rarely, they choose the right digital spaces to invest in and grow their client portfolio.
It is at this point that the definition of the Digital marketing budget is to stand out in the online world.
How to know exactly how many resources to allocate to this area? Our recommendation
is that you take into consideration the following aspects.
The first step in defining digital marketing investment is to establish what the main characteristics of your business are. Only when you clearly determine these elements will you have a clear map of the most effective areas to implement digital marketing strategies.
In that sense, it is important to note:
- Define the target audience.
- Analyze the needs of the audience.
- Evaluate if your products / services meet the needs of that target.
Main investment areas
After having defined and established these characteristics, it is relevant to take into consideration which of the areas of investment in digital marketing to choose best one suits your entrepreneurship.
Although there are many investment opportunities, we consider that the most effective and common are the following:
Investment in web positioning
Obviously, the main objective of investing in digital marketing is to appear
in the top position of search engines when our clients and potentials customers search for a product or service related to our brand.
Web positioning is an area of mandatory investment for all enterprises that seek to attract new customers. However, even this type of digital marketing requires its own cost analysis and corresponding evaluations to know which specific areas to allocate the investment.
Investment in content marketing
Investing in content marketing is also a good idea, especially since it reports a double benefit to companies, which makes it one of the most profitable actions of digital marketing.
On the one hand, it allows the user to be reached with a direct message or story that responds to a search that they themselves do through the search engines and, in turn, addresses a specific need that they wish to solve.
Similarly, this type of marketing draws on SEO and keywords to fulfill its objective: position itself on these platforms. In fact, the more specific your keywords (keywords) are before and the better they will position themselves and the more people will read your content.
Investment in digital advertising
And, finally, we cannot ignore the applications that allow us to create strategies even more adapted to the objectives set. These tools are better known as “Ads” that some platforms have adopted to sell advertising spaces.
That is the case with Facebook Ads and Google Ads, the main online advertising platforms. With them, entrepreneurs will face the decision to properly invest their digital marketing resources to reach a captive audiences of interest, as long as the strategy is well designed and executed.
How much to invest
This is the core issue. This is a very general question that can be answered differently depending on the type of business.
In that sense, it is of the utmost importance to take into consideration that the ideal cost of the marketing strategy will be determined by the Return on Investment (ROI) objective. In fact, most companies consider the formula that, for every dollar spent on advertising, 5 dollars of revenue should be produced.
The best way to calculate digital marketing costs is, without a doubt, online advertising that uses Cost per Click (CPC), since it is much easier to measure and will therefore allow you to establish an approximate range of your success with your campaign.
Finally, there is no doubt that, in order to stand out above our competitors, it is necessary to use effective and well thought out digital marketing strategies.
These campaigns have a direct impact on the visibility of your brand, provide platforms to interact with your target audience, generate loyalty to your products or services, build credibility and, finally, create new customers.
Without a doubt, marketing in the digital world is as important as any advertising tool, especially if you are an entrepreneur. It is a mistake to think that the use of social media is “free”, when even social networks have a cost.
Want to know more? We invite you to read our article; Are social networks free?