Deluge Digital Marketing

Blog

Posts tagged business how-to
On the Rise

It’s well known that marketing automation is the way of the future. Given the dramatic increase in online commerce and Google searches; it’s apparent that digital marketing can benefit your organization by:

  • Increasing your sales efficiency.

  • Enhancing the ability to generate qualified leads.

  • Developing a multi-channel prospect on behavior.

  • Aligning your sales and marketing goals.

  • Improving your sales processes and offering specific ROI insight.

A new study from the manifest revealed that 99% of businesses will increase their investment in at least one digital marketing channel in the next year. Social media and Website improvements are performing much better than the traditional marketing methods. These are easy investments that yield profitable results. Analytics are measured beyond a messages initial output; Conversion rates are measurable within these methods. Therefore, businesses are able to see the process all the way through a completed transaction.


Are you improving your marketing strategy? Are you developing a plan that holds your business accountable to increasing its sales? As an operations manager I’ve had proposals go flat because the business owner claims, “We have too much business already”. There is no such thing as too much business. Your management processes should help you handle these prospects. At Deluge; we help align your sales goals with a marketing strategy that delivers tangible results. Digital marketing is a high-yield investment that helps you gain traction against local competitors and promotes your business information in multiple ways.

Source: Newswire


How to Set a Marketing Budget for Your Business
 

In the early stages of a company's success, many entrepreneurs try to avoid setting a marketing budget. We're here to tell you, it's not as intimidating as it sounds. See our tips for getting the most for your money.

1. Define Your Marketing Goals 

A company's marketing budget should be customized to fit the needs of the company. Do you need more sales? Do you want to create brand awareness locally or nationally? Do you want to use marketing to revitalize relationships with existing customers?

2. Evaluate the Stage Your Business is in

For new businesses, it is widely recommended to spend between 8-10% of your revenue on marketing. However, there are exceptions for businesses in high-competition industries.
If you're industry is highly competitive, your budge can range anywhere from 12-20% depending on how high your operating costs are. 
For established businesses, with at least $5M in revenue, 12% is standard budget allocation. 
Additionally, understand that marketing drives revenue. Meaning you need marketing to grow as a company. Creating a marketing plan with a professional is one way of making sure this occurs. 

"Marketing Drives Revenue"

3. Test

It's highly likely that you won't KNOW the magic number until you test multiple marketing strategies, and evaluate which ones work best. This should be factored in to your marketing plan from the beginning. Marketing investment is a necessary risk. 

4. Don't Panic

Easier said than done. However, building up your marketing presence to accomplish your goals takes time. Make sure you look at how your marketing investment will pay off long term! You may not see direct results within the first couple months, but a successful marketing plan should increase your over-all revenues within the first year!

For clarification on marketing budget spending by industry, check out this helpful graph: