There is one final quarter left in 2021 and it’s an important one. This is your last opportunity to hit your goals for the year and end 2021 on a high note. Digital marketing is extremely important for hitting your goals and having a plan for your marketing budget is equally as important.
Here, we’ll show you how to create a digital marketing budget that allows you to achieve your Q4 goals and start the new year from a place of prosperity.
Step 1: What Worked in the Past?
Have you been setting quarterly goals for your business before now? If so, analyze what these goals were and if they were achieved. Consider how much you spent on digital marketing in previous quarters.
You might notice a significant ROI from social media marketing or from updating your branding. Perhaps you invested a big portion of your budget into email marketing, but those campaigns didn’t yield the results you wanted.
Examine what has worked and not worked for your business in the past.
Step 2: Identify Your Goals
Digital marketing can take your business to new heights. It can help you expand your reach, refine your brand, increase your authority in your industry, and attract your target client to your services.
So, for Q4 of 2021, what are your goals?
Here are some examples we’ve seen businesses set in the final quarter:
- Increase visitors to your website’s contact page by 33%
- Expand your online presence to a new social platform you haven’t tackled yet
- Double your click-thru-rate
- Maximize client retention through an effective email marketing campaign
Step 3: Set Your Budget
Now that you know what goals you want to achieve in Q4, it’s time to assess how much hitting them will cost you.
According to the BDC, B2B businesses should spend between 2-5% of their revenue on marketing efforts. For B2C businesses, that number jumps to 5-10%.
On average, small businesses that have less than $2 million in annual sales spend nearly $34,000 on digital marketing. Per quarter, that’s $8,500.
If you’ve never created a budget for online marketing before, use the guidelines above from the BDC to decide how much you want to allocate to these efforts quarterly.
Step 5: Create a Digital Marketing Plan
You have your Q4 goals for digital marketing and you know how much you want to spend. Where do you invest that funding to achieve those goals?
Some businesses choose to do digital marketing in-house. This typically requires hiring a full-time employee who specializes in digital marketing. Some business owners attempt to master this field themselves, only to find they no longer have the time to work on other aspects of their businesses.
The most cost-effective and goal-effective option is to hire an experienced digital marketing agency that understands your industry and your business.
We’ll Take Care of Your Digital Marketing So You Can Run Your Business
Here at SocialEyes Communications, we have years of experience helping service-based businesses and professionals grow their companies, increase sales, build reputations, and improve industry authority.
With our help, you will hit your Q4 goals, stay on budget, and experience a substantial ROI. Contact us today to learn more.