Determining a marketing budget can be difficult in terms of how far it’ll reach across the different platforms. With this handy guide you’ll soon be familiar with the differing types of digital marketing strategies out there, and what is involved in each step in order to determine the budget for search engine marketing to ensure your brand and its needs are met.
WHAT NEEDS TO BE CONSIDERED IN YOUR MARKETING BUDGET?
If you’re looking for advice on how much to spend on your marketing budget, you’ve come to the right place. You should be considering a number of different factors for your digital marketing strategy. These include:
- SEO-friendly content
- Social media
- Email marketing
- Influencer marketing
- Pay-per-click (PPC)
And other types of search engine marketing strategies, depending on your brand or business profile.
Things to consider when drawing up your marketing budget include:
- What you are selling (a product, service or a combination of both)
- How big your social media presence is
- The amount of organic traffic you receive
- How high you rank on Google (and if you’re on the first page- and what got you there)
- How competitive your keywords are
Based on this, we’ll be focusing on two of the marketing strategies that tend to take up a lot of the budget- SEO and PPC.
HOW MUCH OF THE BUDGET SHOULD GO TO SEO?
SEO spending has a lot to do with your ultimate goal and what return of investment (ROI) you’re projecting- in fact, SEO is a long-term strategy. If your business is new, your focus should be the content creation side of SEO while building up your online presence. This is because without SEO, you can have the best content with no audience. But, know that quality content creation takes up time and costs money, even if it is outsourced. It’s important to measure your realistic goal in terms of potential growth in comparison to how much you are willing to spend.
There are a number of options when it comes to SEO, you could go the in-house specialist route, which can be quite pricey, or you could outsource the work to an experienced specialist. They’ll be able to manage your strategy, tracking results and the implementation of the right keywords. Bear in mind that SEO can take up to about 50% of your marketing budget, however the more you spend on the content (SEO) the quicker you’ll see results. Technical issues, such as broken links and unresponsive pages can interfere with your SEO, therefore it’s a good idea to devote some of the budget to alleviate these problems for a better overall user experience and optimization.
HOW MUCH OF YOUR BUDGET SHOULD GO TO PPC?
Pay-per-click works by paying for space in the sponsored results section of search engines. You then pay a fee, based on the competitiveness of your keyword, and when a potential customer clicks on your link through the ad. This is a good way to get good results quickly, (in comparison to the slower process of SEO) but usually tends to cost a lot more (upwards of 70% of your budget, leaving the rest for social media and website).
Alternatively, there is the option of coming up with a search engine marketing budget that combines both PPC and SEO depending on your needs and how much you are willing to spend. This can be combined with other forms of digital marketing to make sure you’re getting the right kind of advertising for your brand or business. Generally, these two forms will take up the bulk of the budget, and if this is the case, you can balance things out with organic social media posts if need be.