Check out the latest video marketing statistics for 2019.
You’ve successfully executed nearly all your marketing plans for the year and still have some budget saved? While having ‘extra budget’ itself sounds like an oxymoron, there are several reasons you may have ended up with that leftover loot. Either the campaign you intended to execute was either no longer required or delayed until next year, or perhaps you were simply more cautious with your budget than necessary.
But now it’s almost Christmas and you have very less time on hand before the holiday season begins. Executing a new campaign before Christmas or spending it on a huge Christmas party isn’t realistic – so what are your options?
Well, here are five cost-effective ways of spending the leftover budget that will get the ball rolling and help make your marketing in 2018 more effective.
1. Explore New Digital Marketing Channels
Experiment with new digital marketing channels and tactics that you may not have yet deployed. Social media channels like Linkedin and Facebook are evolving from brand building to lead generation for B2B companies.
While Facebook is the most loved social media marketing channel for marketers across the board, it is a good idea to get started with YouTube, Instagram or even Snapchat. These channels are excellent for increasing brand awareness, nurturing potential customers, and establishing your voice in the industry.
You can also consider retargeting, or remarketing, an online marketing strategy that places a tracking pixel on your website. This lets you follow them when they leave and place an ad on another website, thereby persuading them to come back over. In fact, according to HubSpot, consumers who are retargeted in digital channels are 70% more likely to convert.
2. Generate High Value Content
If you prefer investing your budget in something that generates more qualified leads, then building high value content is a good option. Commonly used examples of high value long-form content include:
- White Papers
Each time your content reaches a new audience, it generates traffic to your site, increases brand awareness and, contributes to revenue growth, eventually. Not bad for a modest one-time investment of your leftover marketing budget!
3. Produce Rich Media Content
While video is definitely not a new kid on the block, it is certainly advancing. In fact, 96% of B2B companies use video in their marketing campaigns, of which 73% report increased ROI. That’s a rather impressive statistic. And if that hasn’t impressed you enough, Adding a product video on your landing page can increase conversions by 80%.
Here are some videos that you can incorporate into your marketing plan:
Brand videos – Tell your audience the story of your brand or talk about your core values. A great way to differentiate your brand video from others is through animation.
Explainer videos – As the name suggests, these videos explain something. These can include anything from sharing tips, or walk your customers through an activity.
Company culture videos – These videos are a great way to establish a personal connection to your brand. They can include a tour of the office, employee interview, or a company outing.
Expert videos – It is a good idea to interview your in-house experts, record the interviews, and publish them. They can simply answer some questions asked by different customers, or share their views on a particular topic or their area of specialization.
4. Uncover Insights with Analytics
If you’re trying to get the most out of your digital marketing strategy, hiring an analytics expert for your website is a great place to begin your efforts. Along with analyzing your website traffic, the expert will also tell you if you are able to attribute revenue to your right marketing source, as well as an end to end 360-degree customer attribution. Some of the core component of Google Analytics are:
- Traffic Channels
- Site Content
- User Behavior
- Audience Demographics
It is also a good idea to leverage Google Tag Manager with Google Analytics for better tracking and analysis. It helps users to easily deploy tracking codes, allowing Google Analytics to keep a record of user information.
5. Conduct a Digital Marketing Audit
In the battle of online marketing, everyone wants to be #1. However, achieving the first position is quite a daunting task as you need to invest your time and implement various strategies to gain this position.
But, how does one implement their marketing strategy?
In order to do that, you need to first audit your current digital marketing strategy. A digital marketing audit is an assessment of your company’s digital presence to help identify gaps and opportunities to improve your online efforts. You can get a thorough inspection of:
Search Engine Optimization: Perform a comprehensive SEO audit to review your website’s performance to drive more leads, customers, and increased sales.
Paid Media: Conduct an in-depth analysis for your ongoing PPC management services for campaign improvement
Social Media: Evaluate, measure, and understand the current social performance on the basis of analytics data
Using your extra funds left over in your 2017 budget to boost successful campaigns or try out new ones can help you meet or even exceed your 2017 targets. It may require more time planning and strategizing, but it will certainly get the bang for your buck!