Invest in Your Digital Strategy, When is the Right Time?
Everyone says, Invest in Your Digital Strategy, but when is the right time? With an estimated 3.5 billion online searches each day and a global internet user base of over 4 billion, we are in the midst of a digital transformation. People live online, seeking knowledge and revealing answers to their every concern, thought, need, and want. Let’s take it a step further… On average businesses see a 200% return on investment when purchasing Google Ads. And, that’s just one of many digital programs.
So, when is the right time to invest in your digital strategy? (Insert confident chuckle.) The right time was yesterday. The next big question is…how much should you be investing?
If you don’t have a set marketing budget, now is a better time than ever to create one.
We get it. Marketing budgets vary within industries- it’s no “one-size-fits-all-solution.” Consulting service companies may invest less than a retail operation relying on consistent and local foot traffic. However, a good rule of thumb to start is around 8-10% of your revenue.
Half of your marketing budget should be invested in digital.
And, that’s at a minimum. Traditional marketing is still prevalent… but not nearly as much as prevalent as it was 50 years ago. Take a look around you. Our behavior has shifted. People’s heads are down, eyes glued to the phone rather than their environment. It’s where they make their connections. It’s the communication channel of choice.
So, what does your digital strategy involve?
Digital includes paid ads, email marketing, social media, search engine optimization, organic content, analytics, strategy, landing pages/website, etc. I mean…the list goes on and the possibilities are vast. However, let’s revisit the point of this conversation. It won’t do you any good to lightly dabble here and there or to “wait” for the right time. Be intentional. Invest. Think about your target customer. What channels do they use?
It’s a good place to start. And if you need help building your program, that’s cool. We like to roll up our sleeves and get dirty in digital. It’s kind of our thing.