Digital Marketing Requires Increased Budgets
Gone are the days when Digital marketing just got the scraps of the marketing budgets. There are more and more requirements to be on Social Media and manage the Digital Marketing as you would any other platform , including your sales teams.
Social Media is getting more and more costly. No doubt that it is still the cheapest entry point in to marketing your brands and products, but more investment is required to get to the audience based on fragmentation of the audience.
We saw this with the explosion of TV channels and radio stations when those mediums matured. Now it is the turn of the Internet.
I have so many clients saying “But the internet is free”. Then I spend the next 10 minutes explaining why this is not the case.
2020 is going to be the year of allocating marketing budgets accordingly, with most businesses allocating 20% of turnover to marketing at the very least, between 20-50% of that is now going onto social media and digital channels.
Facebook, LinkedIn and Instagram are all increasing their rates for 2020.
Client budgets need to be allocated accordingly, or risk not getting the return on investment they expected off the smaller budgets of 2019.