As the world goes more digital so should your marketing budget. Why? Simple, it’s where people’s attention is..
But before we share why you should invest in digital marketing for your business or how much you should spend lets first define it.
Here’s wikipedia’s take on Digital Marketing summed up;
Digital marketing is an umbrella term for the marketing of products or services using digital technologies, mainly on the Internet, but also including mobile phones, display advertising, and any other digital medium.
So maybe you are use to “traditional marketing” like billboards, radio, TV, direct mail ect.. or even word of mouth and referrals.. These were all ways in even today still have some value depending on the situation, niche, or business. Also, depending on your allocation of marketing budgets as long as you are making more of commitment to digital marketing then you can perhaps add a small slice of your marketing dollars to these areas if it fits.
However… for the most part we believe firmly you should be investing in digital marketing.
What is Digital Marketing?
Our definition of What Digital Marketing is;
Getting attention on the internet on the most visited platforms, websites and apps… (Google, Facebook, Amazon, Instagram ect..)
Digital marketing is also very trackable and when done right can yield an everlasting ROI and help you build brand equity online. We believe most if not all your marketing budget should be allocated to digital marketing and you should take each platform or site step by step depending on what you are targeting with using Google at the forefront since it’s still the #1 site in the world and the best ad platform with “pull marketing” vs. Push marketing like Ads on streams or timelines of Facebook, Twitter, and Instagram.
Also, another great rule of thumb after studying some of the best brands in the world and publically traded companies they all have at least 10% of their revenues allocated to marketing budgets.
Should you hire a Digital Marketing Agency, Digital Marketing Experts, Consultants or a Digital Marketing Company?
This question really depends on the context of the business asking however I believe I can share some examples of the pros and cons of hiring a Digital marketing company to help you. As an example most small businesses should hire a digital marketing company and search their local area for experts or consultants that can show them tangible results for helping their clients on Google or social media platforms.
The reason small business should 99% of the time hire this out is they can save money in the long wrong because most digital marketing agencies will be able to get them a great ROI (as long as they can prove this to you beforehand with other clients). Also, most small business don’t have the time or know how to do it themselves or the resources to hire someone internally. And if they hire someone internally they won’t know if that person is doing it right or how to manage that person for the digital marketing role.
Another reason you should hire a digital marketing agency is they usually know many facets of digital marketing like SEO, PPC (Google Adwords), Facebook Ads, Social Media marketing or how to make your website mobile friendly.
If you are a larger company or even a Fortune 500 brand you should still consider hiring a digital marketing company as long as they align with other agencies of record and your internal marketing team. Also, you should hire them based on their digital marketing or internet marketing strengths compared to your internal marketing team members that already get you results with their specialities.
Sometimes we have been hired not only for our expertise in SEO or digital marketing but also hiring our team helped the publically traded company increase their revenue per employee which is great for their quarterly results and Wall Street.
Lastly, I will leave you with this. In many cases hiring a digital marketing company on retainer cost less then hiring each of the internet marketing specialists separately and most agencies will do a better job.
So in many cases as you can see hiring an internet marketing agency is very beneficial to small businesses and larger corporations alike.
If you would like a complimentary Digital Marketing Audit call our team at 888-863-7421 and mention this post. Please share this with any colleagues or businesses you know that could use this or need help