Get-Smart-With-Your-Digital-Marketing-Budget_Header-Image_Insights

How to get smart with your digital marketing budget

Digital marketing has become a vital component for modern-day business success.

Pre-pandemic, people were spending just 27 minutes more on digital media than on traditional media. This year, that gap will widen to 139 minutes and is predicted to stretch further to 165 minutes by 2025. Businesses are recognising this shift and rising to meet the challenge, with analysts predicting digital marketing spend to reach the £200 billion threshold in 2025.

These numbers paint a clear picture: digital marketing has become the lynchpin of any marketing strategy. Rather than discussing whether digital marketing is needed or not (the answer to that is quite clear), our latest insights piece sets out how you can get the most out of your budget.

Get-Smart-With-Your-Digital-Marketing-Budget_Image-1

Objectives and Goals

Before starting to allocate the budget, it’s important your team are all on the same page when it comes to what the desired outcome from digital marketing is for your business.

It’s important to figure out the current and future priorities the marketing team plans to focus on.

What is the marketing strategy for the upcoming months? Ensure that you gather a holistic picture, including any support the other teams may need from marketing pursuits.

For example, the company may want to make a significant hiring push next quarter. In this scenario, different sectors may need to collaborate with the social media team to post open roles on social channels.

Once you have this information, align on the degree to which you need to support the different priorities you’ve noted with digital marketing. Doing this will give you a good idea of how to balance your budget across the planned activities while keeping some in reserve for any ad hoc campaigns.

Get-Smart-With-Your-Digital-Marketing-Budget_Image-2

Choosing the Right Channels

Not all digital marketing channels are created equal. Depending on your target audience and goals, some platforms may be more effective than others. Common digital marketing channels include:

  • Social Media (e.g., Facebook, Instagram, LinkedIn): Ideal for brand exposure, engagement, and driving traffic to your website.
  • Search Engine Marketing (SEM): Effective for driving targeted traffic through paid search advertising (e.g. Google Ads).
  • Content Marketing: Involves creating and distributing valuable, relevant content to attract and engage a clearly defined audience.
  • Email Marketing: An excellent channel for nurturing leads, building relationships, and encouraging repeat business.
  • You should look to allocate your budget based on where your audience is and which channels align with your marketing objectives.
Get-Smart-With-Your-Digital-Marketing-Budget_Image-3

Quality not quantity

Content is the backbone of any successful digital marketing strategy. Create high-quality, engaging content that resonates with your audience. Tailor your content to each platform, ensuring it fits the medium and captures attention effectively. Quality content not only attracts potential customers but also helps establish your brand as an industry authority. Focus your spend on the areas that resonate best with your audience and drive the most traffic; drop the ones that cost you more time and money!

Get-Smart-With-Your-Digital-Marketing-Budget_Image-4

Testing makes perfect

It’s important to continuously test different strategies, advertisements, and messaging to identify what works best for your audience. A/B testing can provide valuable insights into consumer preferences and help optimise the performance of your campaign. If you’re happy the copy is conveying your messaging concisely, try changing the asset or the call to action and see if that makes a difference to your click-throughs.

Get-Smart-With-Your-Digital-Marketing-Budget_Image-5

Track the results

Invest in data analytics tools to track the performance of your digital marketing efforts. Analyse metrics like website traffic, conversions, click-through rates, and customer engagement. This data will guide your decision-making process, allowing you to reallocate resources to what is working best and will be a key tool for informing future campaign strategies.

Get-Smart-With-Your-Digital-Marketing-Budget_Image-3-1

Summary

Effective digital marketing requires a strategic approach, understanding your audience, leveraging the right channels, and investing in quality content and analytics.

By setting clear goals, choosing the appropriate platforms, and continuously refining your approach through data-driven insights, you can ensure that every penny you spend on digital marketing delivers the desired results.

We have years of experience in delivering successful digital marketing and integrated campaigns for clients.

Get in touch at info@coolblue.co.uk or call us on 0191 375 9150 to see how we can take your marketing strategy to this next level!

Like what you see?

Selected Works

Barker and Stonehouse: Gateshead Store LaunchUnveiling the new £5m store in Gateshead.

Harrogate Spring Water - Mindful DrinkingBringing a taste of Royal Ascot to North Yorkshire.

The City Baths Newcastle X John LewisBringing a brand partnership to this historic leisure destination.

Barker and Stonehouse: A Story of SustainabilityA sustainable approach to furniture retail.

Grainger MarketEnhancing Newcastle’s Bustling Grade I Traders Market.

Anglo American:Powering cyber security.

Teesside UniversityCelebrating the Tees Valley digital community.

ProtiumStakeholder communications and engagement strategy.

North P&I:160 years of incredible maritime history.

Middlesbrough College:Finding brand purpose for a dynamic educator.

Sleepeezee:Everything's easy when you Sleepeezee.

North East England Chamber of CommerceGiving businesses their say in skills provision.

Ercol:A moment of pride in ercol’s history.

Newcastle Helix:Our City’s Drive Towards Net Zero.

Story Homes:A new chapter for this thriving residential developer.

Stephenson WorksA welcoming and generous spirit.

NewcastleGateshead Quays:A quay moment for NewcastleGateshead.

TeesAMP:Making it in Middlesbrough.

NewcastleGateshead Convention Bureau:Tyne to get back to business.

Tees Valley Combined Authority:Encouraging staycations in Tees Valley.

Siglion:Bringing some vitamin sea to Seaburn.

North East Ambulance Service:A global pandemic.

Thirteen Homes:How do you want to live?

herdysleep:A first of its kind for the bed-in-a-box market.

Libra Interiors:Connecting consumers in a new way.

Tees Valley Combined Authority:Tees Valley Mayoral Election Campaign.

Animex:A virtual event bringing the brightest of minds together.

Imagine. Create. EGGER:Launch of a new product range for this global manufacturer

Finchale Group:A dynamic rebrand for the leading employment charity.

Duresta:A brave and bohemian collaboration.

South Tyneside Council:Recognising local community heroes.

Fusion:Healthy in the Heart of the City.

UK Land EstatesBuildings for Business.

Merit HoldingsA world leading engineering company.

Harrogate Spring Water:Continuing to make a difference.

Barker and Stonehouse:Say hello to Mr Clarke.

CoolBlue_BC-Logo-White2

Cool Blue is a full-service agency that drives brands forwards. Our ideas and innovations are always conducted with purpose. Delivering solutions that combat specific challenges and provide results. Our strategic expertise offer a valuable service to every one of our clients, helping them achieve their goals.

London

Soho Works, 2nd Floor
180 Strand
Temple

London
WC2R 1EA
T: 0203 535 0222
MAP


Middlesbrough

Boho 5, Bridge St East
The Boho Zone

Middlesbrough
TS2 1NY
T: 01642 351011
MAP

Toffee Factory
Lower Steenberg’s Yard
Newcastle upon Tyne
NE1 2DF
T. 0191 375 9150
MAP