{"id":16651,"date":"2022-07-19T09:30:00","date_gmt":"2022-07-19T09:30:00","guid":{"rendered":"https:\/\/conversionpipeline.com\/?p=16651"},"modified":"2023-04-28T19:26:09","modified_gmt":"2023-04-28T19:26:09","slug":"digital-marketing-budget-how-much-should-you-spend","status":"publish","type":"post","link":"https:\/\/conversionpipeline.com\/digital-marketing-budget-how-much-should-you-spend\/","title":{"rendered":"Digital Marketing Budget &#8211; How Much Should You Spend?"},"content":{"rendered":"\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-vertically-aligned-center is-layout-flow wp-block-column-is-layout-flow\">\n<p>Digital marketing and online customer acquisition have become some of the most important ways to make conversions. Business is done online all the time now and that\u2019s the direction marketing is trending as well so it\u2019s imperative to adapt and grow with the consumers. Digital marketing can be intimidating for businesses that aren\u2019t sure how to budget for it. The good news is that you don\u2019t need to spend a fortune to be successful. SearchEngine Watch published an article in March detailing how to budget an online advertising plan. The article highlights the important questions that need to be asked before a plan is implemented. Some of these questions are:<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-vertically-aligned-center is-layout-flow wp-block-column-is-layout-flow\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"1024\" src=\"https:\/\/conversionpipeline.com\/wp-content\/uploads\/2022\/06\/106201452_l-1024x1024.jpg\" alt=\"Online Advertising Plan\" class=\"wp-image-16652\"\/><\/figure>\n<\/div>\n<\/div>\n\n\n\n<ul class=\"wp-block-list\">\n<li>What do I want out of my campaigns?<\/li>\n\n\n\n<li>How many conversions can I reasonably expect to get from my campaigns?<\/li>\n\n\n\n<li>Is search advertising my only growth channel right now, or are there others?<\/li>\n\n\n\n<li>How much will I also be putting into SEO or email?<\/li>\n\n\n\n<li>How can I track my search advertising to make sure my performance is what I expect?<\/li>\n\n\n\n<li>What will success look like?<\/li>\n<\/ul>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;<em>Your budget is going to reflect what you want out of your campaigns, and what you want should reflect what growth looks like to your business. All of it matters, because your approach to your search advertising, and consequently your budgeting, will be determined by your goals.<\/em>&#8220;<\/p>\n<cite><em>Source: SearchEngine Watch<\/em><\/cite><\/blockquote>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Identify Needs<\/h2>\n\n\n\n<p>Identifying a business\u2019s needs is the first step in planning a budget for an online advertising campaign. It is essential to be honest with how much you have to spend and how much makes sense to spend. It is imperative to set clear cut goals. There needs to be a monthly rate of growth or some quantifiable objective that can be measured and reached for. An example of a quantifiable goal is:<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;<em>You need four conversions a month to hit your $2,000 goal. You convert five percent of the leads you get. Four is 5% of 80. You, therefore, need 80 leads per month to reach your goal. And if you pay $10 per lead, then your budget should be $800 a month for search advertising. Now, that\u2019s an ideal situation. That\u2019s assuming you can make it all happen consistently like that, month after month. In the perfect world, that budget will indeed be ROI-worthy.<\/em>&#8220;<\/p>\n<cite><em>Source: SearchEngine Watch<\/em><\/cite><\/blockquote>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Bidding<\/h2>\n\n\n\n<p>It\u2019s key to understand what your conversion rate needs to be so that you can budget your advertisement plan properly. In addition to knowing your conversion rate and the numbers needed, bidding on the right keyword searches can be just as important. In case you didn\u2019t know, it works like this in search engine optimization (SEO), too: the more mainstream, general, and competitive keywords \u2013 such as \u201cSEO company\u201d \u2013 are going to be more expensive to bid on. Depending on your budget, you may not be able to sustain that kind of campaign for long, and it\u2019s going to end up as a lot of wasted dollars. A more affordable strategy to target keywords is:<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;<em>A longer-tail keyword such as \u201cSEO agency for link building\u201d will cost you less and have fewer monthly searches. But as in any sales funnel, when searchers get more specific, they tend to be more ready to convert.<\/em><\/p>\n\n\n\n<p><em>Just remember that when you get more specific, you\u2019re going to want to hone in on the quality and relevance of your ads\u2019 corresponding landing pages.<br><\/em><br><em>A long-tail keyword search requires a long-tail ad, and a long-tail ad requires a long-tail landing page (so to speak). Be sure to deliver on what your ad promises. Surely, you can develop content related to hiring an SEO agency for link building.<\/em>&#8220;<\/p>\n<cite><em>Source: SearchEngine Watch<\/em><\/cite><\/blockquote>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>In summary, when making an online advertising budget it is essential to understand what your goals are, what your conversion rate is, and how to bid on keyword searches that are right for your business.<\/p>\n\n\n\n<div style=\"height:100px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n","protected":false},"excerpt":{"rendered":"Digital marketing and online customer acquisition have become some of the most important ways to make conversions. Business is done online all the time now and that\u2019s the direction marketing is trending as well so it\u2019s imperative to adapt and\u2026","protected":false},"author":5,"featured_media":16652,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[11,17,34],"class_list":["post-16651","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog-list","tag-advertising","tag-online-marketing","tag-digital-marketing"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Digital Marketing Budget - How Much Should You Spend? - Conversion Pipeline<\/title>\n<meta name=\"description\" content=\"If you are considering starting a digital marketing plan this will answer all of your questions about cost and budget. 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