HOW CMOs AND MARKETING DIRECTORS CAN MAXIMISE DIGITAL MARKETING BUDGETS

Marketing budgets in 2017 are usually tight. To maximise profitability, every pound, dollar and euro must be allocated effectively.
At Britannia Communications we focus on five key digital strategies that can be implemented intelligently to get the most out of marketing budgets.
Our day to day digital experience is supported by the latest Smart Insights, Global Marketing Survey which asked digital agencies and marketing directors to: “Select one marketing activity that you think will give your business the biggest incremental uplift in leads and sales in 2017 “.
The survey had 2,352 responses from marketeers around the world.
These are the results for 2017:

1. FOCUS ON WHAT WORKS BEST
We recommend fully utilising goals in Google Analytics, to effectively measure the source and quantity of leads and sales. By comparing sources such as paid campaigns, organic traffic and social media channels, we recommend applying the Pareto Principle, also known as the 80/20 rule.
Understanding the data, indicates which traffic sources generate the majority of conversions for your budget allocation. Use the Pareto Principle and identify the top 20 percent of your traffic sources that generate 80 percent of best results.  We advise our clients to make this the core focus of their budgets.
2. STAY IN CONTROL OF BUDGET AND TARGETING
Not all marketing solutions allow for full control of how much is spent and who is targeted. Instead of spreading your budget thinly on a large variety of platforms, our preference is to focus on the channels where we are in full control of both targeting and cost. Examples are the online advertising giants, Google, LinkedIn and Facebook.
The more control you have on what you spend your budget on, the more you will be able to trim or adjust what works less efficiently and focus your resources on success.
3. SCALE ONLY WHEN PROFITABLE
Any marketing campaign, online or offline, should be always started on a small, test scale with narrow targeting. Once profitable, the campaign can be effectively scaled.
Scaling can mean experimenting with different campaign types on the same platform as well as adding other channels. Remember that each platform requires its own formatting optimisation and not auto posting from a social media aggregator which simultaneously multi-posts on multiple platforms.
The reasoning behind starting small and waiting for the ROI to come in, is two-fold:
Firstly, the profit from the initial campaign supports additional campaigns and/or platforms. Secondly, the market is provably providing in real time, reliable data about exactly what works well. It’s all in the data! You can safely and continuously resource additional marketing efforts on based on immediate and visible success.
You should also consider the importance of having a statistical relevance in results before deciding on whether to scale up your investment. Always support your decision with sufficient data insights. Our experience shows that in B2B marketing, the more specific the niche, the more precise the targeting.
4. ALIGN MARKETING EFFORTS ACROSS CHANNELS
Every pound, dollar and euro and every minute spent on marketing should communicate the same message. This potentially includes accounts that have never been previously used for paid campaigns such as Instagram or, in some cases, Pinterest and Twitter. In business time is money. Therefore, social media accounts and similar branding efforts are never free and should be seen simultaneously to paid marketing solutions, such as print collateral and paid online advertising campaigns.
Integrated and intelligent digital marketing demonstrably results in a much higher ROI.
5. CROSS-CHANNEL REMARKETING
Remarketing or retargeting means that we target website visitors who did not convert yet on the same platform they were targeted to begin with. For example, potential clients who clicked on an ad in Google but did not convert are targeted again on Google with the same or different ads. Cross-channel remarketing takes it up a notch by retargeting users on a different platform. For instance, potential clients who clicked on an ad in Google but did not convert are now seeing ads on Facebook and Twitter that are tailored to the pages they visited.
Cross-channel remarketing will boost the effectiveness of your advertising campaigns.
Britannia Communications is a strategic UK digital marketing and communications consultancy which intelligently designs and implements digital and social media strategy for leading UK and international organisations.
With a weekly social audience of 2 million+ social media users, Britannia Communicationsis currently ranked #3 of 500 UK agencies for digital influence by Klout, #44 worldwide by Onalytica and #19 by
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