Should Your Company Be Re-allocating its Entire Advertising Budget to Online Marketing?

For a fraction of the cost of traditional platforms like television, print and radio — The right online marketing tactics can enable you to consistently drive larger volumes of highly convertible traffic to your opt-in offers and sales pages. But this isn’t saying that you should reallocate your entire advertising and marketing budget to Internet promotions, especially without considering a set of crucial factors that can make or break your overall marketing and online advertising campaigns.

Remember, you shouldn’t fix what isn’t broken. That’s the golden rule for almost anything, especially when it comes to business. After all, you could end up wasting more time, energy, money and other valuable resources when you do this. You could even break things that are really working well at the moment and find it difficult to bring it back to its previous state afterwards!

Also keep in mind that transitioning to new platforms, strategies and tactics isn’t as quick and simple as it sounds, especially when it comes to your advertising and marketing objectives for your business. There’s almost always a learning curve that you need to overcome, and the steeper it is, the harder it is to jump over and control. After all, the slope of this learning curve primarily depends on what you have right now and how you use it, i.e. The knowledge and expertise that you can tap with your existing resources and network connections.

That’s because the most strategic ways for you to reach your ideal markets and communicate the right marketing messages across your target audiences require talkingAds Ltd. tactical research and data analytics. More so since you obviously want to cut down on your advertising costs and marketing expenses, no? When you do this correctly, you’ll be able to find the fastest routes to promote your newest products and latest opt-in offers to your ideal prospects and target customers with as little pain and resistance as possible. This applies to online marketing, among other things.

So exactly how much should you reallocate the overall advertising budget of your business to Internet marketing? This can be quite challenging for many to effectively decide on, especially for those who are just starting to explore viable opportunities for their businesses through Web advertising and online marketing. But with the list below, you’ll be able to be guided properly on how to prepare your business for this transition. You’ll also be able to pinpoint the best allocation strategy for your current situation when you keep these things in mind:

Resources to Reallocate From Your Advertising Budget to Online Marketing This Year

STEP 1. Create a list of the things that you’re currently doing for your business when it comes to promoting your brand, content, products and offers to your ideal audiences. Doing this will allow you to identify the exact things that are working really well at the moment, and also the stuff that isn’t driving any real value to your business. For example, your print ads in certain niche magazines across your target local areas might be cost-effectively driving more phone calls and inquiries to your business than your current local radio and television ads. So this also gives you the opportunity to pinpoint the exact niche magazines that are helping you more than others.

STEP 2. Take note of the results that you’ve been getting for the past 5 to 6 months from each of your current campaigns. How much have you spent across that period for each of your strategies? What about your corresponding traffic, conversions and sales? Doing this will also allow you to identify months or weeks of the year when you get much better results from each of your campaigns, enabling you to pinpoint the primary reasons behind those spikes. All these things can help you with your online marketing campaign development tactics.

STEP 3. Use the details you’ve gathered at this point. This is to determine if it would be a calculated risk with much better odds of success when you reallocate a certain percentage of your budget from your low performing campaigns to Internet marketing in general. Remember, online advertising and Web marketing are usually less costly than traditional forms of promotions, both in terms of initial development and management.

STEP 4. Do some market research. Where are your best prospects and existing customers hanging out on the Web? What apps are they using for which of their devices? What social media networks, video repositories, online communities and content publishing networks like blogs and so on are they frequently using? Then, zone in on those that are most relevant to your brand, content, opt-in offers and newest products.

STEP 5. At this point, go to those apps and platforms. Observe the relevant interests, activities and shopping habits of your target audiences. What are the topics that they’re participating in? What types of content are they sharing around? What products, brands and other stuff that they’re talking about? Also take note of the things that your top competitors are doing in those places. What are their best performing ads and organic content posting campaigns in those apps and platforms? Can you spot their mistakes and successes? Can you avoid these mistakes and emulate the things that are really working well for them? All these things are crucial for developing your online marketing campaigns.

STEP 6. This is the time where you must create small test campaigns. Reallocate your budget from your least performing campaigns at the moment to these tests. Carefully monitor your results. Tweak accordingly. When you get good results that you’ll be able to scale up, grow and expand it liberally, while of course sticking to your budget.

Follow these steps, and you’ll be on your way to strategically reallocating your advertising budget to the right online marketing campaigns for your business this year. You’re likely to end up with much better traffic, sales, repeat business and viral marketing results when you do these things right. You could even end up with much lower expenses for your promotional campaigns while boosting your bottom-line.