{"id":147260,"date":"2019-11-27T09:00:00","date_gmt":"2019-11-27T09:00:00","guid":{"rendered":"https:\/\/www.smartinsights.com\/?p=147260"},"modified":"2019-11-22T11:58:23","modified_gmt":"2019-11-22T11:58:23","slug":"create-an-effective-digital-marketing-budget-2020","status":"publish","type":"post","link":"https:\/\/www.smartinsights.com\/digital-marketing-strategy\/create-an-effective-digital-marketing-budget-2020\/","title":{"rendered":"How to create an effective digital marketing budget for 2020"},"content":{"rendered":"

Nine out of ten marketers expect to increase digital marketing budgets in 2020, but how do you make sure your budget is effective?<\/h2>\n

Digital marketing has proven itself to be one of the most effective types of marketing. Email, social media, content marketing, search engine optimization - all of these tactics are essential to business success in 2020.<\/p>\n

It\u2019s probably why as many as 95% of organizations<\/a> have increased their digital marketing budget in recent years \u2013 and why nine out of ten marketers expect that their budgets will grow in 2020 as well.<\/p>\n

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That said, digital marketing is very complex and involves numerous strategies, all extremely important. As consumers increasingly expect omnichannel experiences and want to be able to reach brands on all their preferred channels, marketers have the big challenge of stretching out that budget for countless channels and strategies.<\/p>\n

So how do you create a budget that ensures your marketing strategies will thrive?<\/p>\n

Identify your marketing objectives<\/h3>\n

What are your main goals this year?<\/p>\n

The best way to start planning your budget<\/a> is to be very clear about your goals for the upcoming year (or quarter). Having goals in place will allow you to prioritize the tactics that you should focus on the most.<\/p>\n

For example, if you wanted to grow the business website and generate more business from it, then you should invest more in producing high-quality content, leveraging conversion optimization to boost conversions on your website and invest in better search engine optimization to boost targeted traffic and any other tactics that drive targeted traffic.<\/p>\n

\u00a0Audit your past results<\/h3>\n

Once you know what you want to achieve this year, you should look at your past results to help inform your 2020 strategy and budget.<\/p>\n

Using the same example as before \u2013 generating more business from your website \u2013 in order to identify the best tactics to achieve that goal, you should audit your past results to see which channels and tactics performed best in the past, as well as what hasn\u2019t worked as you\u2019d wanted it to. Which channels drove the most (targeted) traffic? Which ads generated the most leads? And so on.<\/p>\n

For example, some of the things you\u2019d need to look into:<\/p>\n