With just two months left in 2018, it’s time for marketers to start planning their budgets for 2019 – if they haven’t started already.
Either way, it is a good time to ask some very important questions. How much money should I allocate for digital marketing spending between marketing and advertising budgets? A lot of that answer will depend on the type of business you represent and your target market. Let’s take a look at a few important questions to think about before you start planning your budget details.
- How much money did you spend on digital marketing last year?
- How much of it is allocated towards – Email, Social, SEM and other avenues?
- What tools are you using? And how much do each cost?
- Other expenses
Here are 4 important things to look at before you start planning your 2019 budget.
Take a look at your 2018 goals, did you achieve them? Now, what is your marketing team’s main focus for the new year? More conversions, better brand awareness, increased deliverability, and higher open click rates? Whatever your goals happen to be, you should be setting them now.
Analyze Last Year’s Stats
Where did your money go last year? What was successful, what was less successful, and what showed progress for the future?
Whatever stage you are in your marketing funnel, whether you are measuring your email deliverability, social media followers, or leads generated – it’s good to step back and take a look at what worked well for you in the past, why it worked, and what you might need to brainstorm to keep your progress moving forward.
You should always allocate budget based on your success, never on the cost. For example, we understand that posting on social media is technically free, but even just promoting a few posts here and there can add up – and if they are helping your brand you want to be sure to set room aside in the budget for more of them this year.
It’s also good to set aside some money for testing new strategies. You never know when you will run into a new product or service that may help you and your marketing efforts. Keep 20% reserved for your experimental fund. Remember to spread the wealth, this doesn’t mean to just test out new ideas right at the beginning of the new year, be sure to spread it throughout different marketing channels.
It’s always best to stay ahead of industry trends, so start preparing your content marketing, email marketing, SEO schedules now. It’s always a good idea to research what your competitors are doing, and what is working for them. It helps to build context. It’s not about copying, but you should always be aware of what they are up to. After all, what works for them may also work for you. Or spark an even better idea.
Does your website need a face lift for the new year? Can you freshen up your social media, or email newsletters? It’s always good to update your content. Especially when it comes to Email. Yeah, you heard that right. Email is not dead, in fact it is still growing. According to themanifest.com (taken from a survey of more than 500 digital marketers) nearly three-quarters of businesses spend time and money on email marketing. Businesses are still utilizing email marketing because it delivers successful results while allowing more control as compared to other platforms.
But not all email campaigns have a pot of gold at the end of them. If you don’t conduct hygiene to your data lists you may suffer from poor deliverability, sender score decreases, or risk ending up on a blacklist.
If your business relies on email, you should definitely be planning for verification and hygiene for your email data.
Deliverability Rates have fallen in 2018
Although email is not dead, and more and more businesses are utilizing it as an integral part of their marketing, deliverability rates continue to drop in 2018 according to the Relevancy Group research. If you read Part One of this article, “ What is the Real Value of Email Hygiene” you would have already heard that. When marketers were asked if they were using verification and hygiene methods, they found that most were not doing enough and some not even planning for it in their marketing budgets. The report also states how much of a problem this can be due to the overall deliverability rates trending downward over the past three years, dropping in the second half of 2018 to 87 percent.
Healthy Email Data starts with Verification & Hygiene
Email Marketers need to plan for verification and hygiene in their marketing budgets for 2019 in order to improve deliverability, open and click rates. It’s also critical to understand the differences between verification and hygiene. Verification is increasingly becoming useless as a stand-along service. Marketers need to rely on the power of Multi-Method Email Hygiene, something Webbula cloudHygiene- The industry leading identification solution can provide to you. Mult-Method Email Hygiene is the combination of Verification and Hygiene. It can detect not only bounces and typos like verification, but also other hidden threats such as spam traps, honeypots, bots, malicious moles, screamers and more.
After the Relevancy group conducted their research this past June, they came to a conclusion that those who utilized both verification and hygiene simply outperformed those who did not. Marketers doing so have a 38 percent higher email marketing monthly revenue than those who chose not to use this tactic. This is equated to approximately $2 million additional dollars in monthly revenues. Hygiene is not a cost center, it is a profit center. If marketers use both they will benefit from higher delivery, click, and conversion rates.
So what’re you going to do? 2019 is around the corner it’s time to set room in your budget for Multi-Method Email Hygiene. Why is Email Hygiene worth it?
Check out Part 1: What is the Real Value of Email Hygiene