A little there, a sprinkle here, and maybe a dash lobbed into that area … this method of distribution might fly in the meal-preparation sector. But for the distribution of dollars in a digital marketing budget, the methodology is extremely hazardous. Randomness simply doesn’t pay.
Far safer and more productive is budget prioritization. Resource allocation means simply to channel the most money where it will do the most good. Naturally, you’ll want to save some dollars for the secondary budget zones – if possible. But the primary zones must get the biggest pie slices.
Such prioritization is critical for enterprises with limited budgets – and whose budget is an open tap, anyway? Constraints of some sort exist almost everywhere.
So, if you’re engaged in digital brand marketing, the question looms — which aspect of the noble operation gets budgetary priority? You guessed it — branding. Your name, your image, your trustworthiness must enter the consumer’s head in grand fashion.
It doesn’t matter if you’re drawing SEO traffic by the billions. If your name isn’t gold, few will convert. On the other hand, if you’re less than stellar in other marketing areas, a strong, well-branded image often can compensate for some of the shortfalls. Never underestimate the value of being well-liked and universally respected.
Inescapable Conclusion: Unless you’re chin-deep in dollars, channel the bulk of funding into branding strategies. As proven through the years, this prudent allocation will deliver the greatest ROI.
Once consumers know and trust your brand, it’s far easier to fulfill the goals of the second-most crucial area of digital brand marketing – traffic generation. The fact that you’re already a known quantity doesn’t guarantee thousands flocking to your doorstep. You still must pop up big and bright during digital searches. And that requires the development of solid SEO strategies, particularly of the organic variety.
Successful organic search strategies hinge on a variety of factors ranging from content development to skillful website programming. All have an impact, and all must be sufficiently-financed. Thus, a suitable chunk of ad spend should be devoted to SEO.
Beyond these two budget zones are other marketing areas – all of which should be given due attention, and if possible, adequate funding. Nevertheless, in the digital age, branding and SEO remain the two highest, most productive priorities.
If you have questions or comments about preparing a marketing budget, or about any other brand-related topic, feel free to send them our way.