Budgeting
You arrive at the carnival with $10 in your pocket. There’s a sign that says “5 roller coaster rides $10” and then another that says “Funnel Cakes 2 for $10”. What do you choose? Your marketing budget is no different as you have to make a decision as to which advertising spend will provide you with the biggest bang for your buck. Every tactic within your marketing mix contributes a certain piece of the puzzle to your final conversions, but some are worth more than others. Understanding how your audiences move through their journey and what tools they use provide the key pieces to identifying the most profitable tactics, and thus where to spend your money. While this may change over time it is important to put your best estimations out there first so that you aren’t blowing a bunch of money on funnel cakes when clearly it’s roller coaster time! In an effort to demystify the process a bit we created a sample digital marketing budget you can use to get started.
