New Year’s resolutions apply to businesses, too. And though it may be tempting to jump on the bandwagon of trimming down or cutting back when it comes to your 2015 digital marketing budget, how about having a healthier year simply by investing more wisely in digital strategy, app development, responsive web design and social campaigns?
If your 2014 marketing strategy left you wanting for something more impactful, deconstruct last year’s efforts, assess the numbers and approach digital marketing in 2015 with the speed and ardor of a startup.
Innovation is Key
“Marketers should have a defined portion of their budgets that’s purely for innovation,” says Ken Allard, managing director of business strategy for Huge. “It’s for trying out new things, new experiences, and new ways of interacting with consumers that don’t have a history of return; it’s funding something new to help move a brand forward.”
Instead of sticking to strategies that didn’t necessarily fail last year, try something daring and new. Marketing kudos these days are going to companies who make bold moves…not the ones investing in being ‘just another popup.’ That doesn’t mean discarding your traditional strategies that may have been working, but rather, innovating better ways to implement these strategies. Is there a new technology that could augment your strategy’s effectiveness? A new marketing medium that could activate a broader audience?
If so, dive in. Innovation is not only helpful, but it is also necessary for continual growth. And where should the rest of the budget go after innovation?
Industry experts weigh in on where to apply your 2015 marketing budget:
- A variety of unique mobile marketing channels
- A clear plan for results measurement and ROI of marketing strategies
- Case studies on how your adjusted spending affects consumer behavior
—Ken Allard, managing director of business strategy for Huge
- Creating engaging customer experiences across digital channels (mobile, social, video, display, email)
- Programmatic buying to enable cost-efficient marketing media-buying at scale
- Data and analytics should to reach the right audience with the right offer
—Mark Strecker, CEO, Amobee
- Determining where your key target marketing audiences are
- Pinpointing where their target consumers are spending time
- Mobile, marketing learning curves and new fiscal steps involved
—Rebecca Lieb, analyst, Altimeter Group
- Social: as a marketing medium that grows so fast and is so large, it’s rich with customer-driven data
- Studying that social data, which improves the quality of relationships marketers can have with consumers
—Mark Josephson, CEO, Bitly
- Choosing the right channels for your unique message, which may not be the same marketing channels as others are using or having success with
- Video (mobile and web) marketing: a great place to create a true connection
—Mark Yackanich, CEO, Genesis Media
1“5 Ways to Spend Your 2015 Marketing Budgets”. Smith, Natasha D. Direct Marketing News. Version 1. N.P. Web, 15 Dec. 2014. Accessed 8 Jan. 2015. http://bit.ly/1BF9NPe.