3 REASONS WHY YOU SHOULD INCREASE YOUR MARKETING BUDGET IN 2017
We all know the slogan you have to “spend money to make money”. Today that is more prevalent than ever. More importantly, do you understand what that truly means? With the power of the internet more and more people are able to create their own business. With that brings more saturation and more advertising clutter. That may sound intimidating but it doesn’t have to be.
Most businesses aren’t properly advertising which gives you an advantage. Take the necessary steps to understanding your audience, brand identity and direct revenue streams. Once that is broken down to its simplest form start to organize your strategy, then begin.
Don’t burn out your budget but make sure that you don’t hold back.
HERE ARE 3 REASONS WHY
“Academic research dating back to the 1920s shows that companies which muscle-up advertising costs during recessionary times post sales gains when the economy bounces back. It makes sense, then, that marketing dollars stretch further when there’s less competition for advertising venues and less noise in the marketplace.”
“Despite concerns over ad blocking and questions about effectiveness, nearly two-thirds of marketing leaders plan to increase spending on digital advertising in 2017. Out of 14 categories of marketing activity, 65% of marketing leaders surveyed told us they plan to increase their spending on digital advertising.
Factors contributing to the digital advertising increase include:
A continuing and consistent shift of offline media spending to digital advertising
Decline of organic social in favor of paid social
The rising importance of video, which is more expensive than other digital techniques “
At the NYMIASC we stress lead generation and brand monetization on Instagram solely. Facebook is definitely not done improving Instragram. It is time to start utilizing the platforms you spend the most time on and maintain loyal audiences.
“Facebook is expected to remain king, with 90% of social media users utilizing in the platform. Instagram is expected to grow, from 32% penetration to 47% by 2020.
Other social channels with baked in advertising features, such as Pinterest and Twitter, will continue to have relatively low penetration, peeking around 33% of users by 2020. “
When you have a bit more time, thoroughly read through the articles that I referenced.
Don’t be scared to begin. “You only score if you take the shot”. Don’t be afraid to fail. The most valuable gathered data and information comes from failure. While your friends are sitting on their ass playing NBA2k or staring at thousands of mascara in Sephora, you will be on your way to becoming incredibly successful.