Look Into The Future—Plan Your 2020 Marketing

Budget for 2020 marketing.

The air is getting crisper, the holidays are in full bloom, and before you know it, the 2019 calendar year will be over. A new year rings in the opportunity for new marketing ideas! But you shouldn’t wait until January 1st to think of a game plan for your business for 2020. Why should you make a marketing plan? Not only will you be ready to hit the ground running, but brainstorming ideas and creating a plan ahead of time will keep you and your business organized. So, let’s look at the trends and strategies we expect to see in 2020 and how your business can incorporate them into your marketing plan.

Video Production and Live Streaming

Video production is one of the best tools to use for marketing in today’s digital world, just take a look at Youtube celebrities! Creators and Influencers have become worldwide sensations just from starting with sitting in front of a camera. With the power of video you can communicate with your audience, authenticate and personalize each video, and promote your business with sit-down videos, tutorials, Q&As, etc. Live streaming has been on the rise for the last couple of years in visual marketing, but it’s bigger than ever now. It’s estimated to be a $70.5 billion industry by 2021. Live videos are unedited, raw footage. This is a great way to have your audience really get to know you, it’s quick, and it’s easy.

Insight

There’s a lot of data your company has probably compiled in the week to last year; use it as a tool! Let’s say one of your posts, blogs, or emails got double or triple the amount of clicks than what’s average; why was it so popular? Take the data from your most popular and unpopular posts and determine what kind of content was it that you were putting out and why it was so successful. Turn that around for 2020, and try incorporating more of what worked into your marketing techniques. For example, if you’re a video marketing company and your blogs and posts on drone footage and use, are always successful and your posts about video editing aren’t so successful, try making video editing topics more exciting, and recycle and find new drone content to use.

Consumer Behavior

If your company still uses a lot of traditional marketing techniques, try switching your content up with something that your customers will find easy to use, useful, and fun. For example, most people are making google searches from their smartphones – make sure your content and website layout is compatible and easy to navigate from a phone screen. Furthermore, the way people make searches are different. Image and voice search are becoming more and more popular, so make sure your SEO is up to date! (Check out our blog on SEO here.)

With all of these things in mind, remember that it’s okay to step outside of the box! If there’s a new video editing technique you want to try out in one of your marketing videos, don’t be afraid to test it out. A new year means new opportunity, and your business should take full advantage of new trends, techniques, and strategies!

How is your budget doing? How about your leads?

This is an image of measuring your budget.

It is very important that you keep up with your budget on a regular basis and track what your Cost per lead or cost per sale is. Ultimately you should be keeping this up on a regular basis however at minimum you should do this quarterly.

The first step is to determine how much you have spent on marketing so far. Hopefully you have been tracking this independently if not I am sure your accounting department has. Hopefully either you or they are keeping track of where the money is going. Not only that it is going to marketing but where in marketing it is going.

The next thing to determine is how many total sales you have for the the quarter. Again you should be getting this information on a regular basis from your sales team so this should be something you know but if you do not then find out from your sales manager. This should be broken down by new sales and existing sales. This should also be broken down by the amount of sales and the amount of leads. In short, how many appointments the sales reps ran and how many appointments the sales reps closed.

Now here comes the math:
Marketing spend/amount of leads = Cost per lead
Marketing spend/amount of sales = Cost per sale

I suggest you go further as well. Hopefully you have been asking where leads are coming from, television ads, radio ads, web, and social are just some of the categories. You should be able to get this same information from your sales if in fact you did get it.

Here comes the math again:
Marketing spend for category/leads from category = Cost per lead for category
Marketing spend for category/sales from category = Cast per sale for category

When you set up your budget I showed you how to do this same thing for your budget. How are your actuals working towards these numbers? What category is trending higher than budgeted? What category is trending lower than budgeted? What should you be focusing on for the next quarter to fix the differences? This is how you know that you are on track with what you budgeted and expected and this is how you stay on top of your budget make it adaptable.

It’s Time to Start Thinking about Budgeting

This is vector art of a content marketing strategist.

It is the middle of August and it seems very strange to be thinking about 2018. You are still finishing up vacations and the kids are on their way back to school. The question is how long do you want to wait? In today’s business world marketing budgets take longer to prepare, especially when Content Marketing is the largest growth possibility in 2018. If your business is grossing  more than 5 million in revenue, according to the Small Business Association, your company should be spending 8% to 10% of the total gross revenue in order to grow. If less than $5 million in gross revenue, a company should be spending 10% to 12%. It is further suggested that in 2018 a company spends ⅓ of this on Digital and ⅔ on traditional marketing avenues.

 

The real question is how do you use it? Where do you spend it? What do you spend it on? The answer is Content Marketing! I know what you are thinking, “You are nuts, that is against all marketing principles and that puts all of my eggs in one basket.” I would agree with you unless we are talking about Content Marketing.   

 

Content Marketing is a marketing art that combines both Traditional marketing and non-traditional marketing. I like to explain it as a spider web, You have your Mooring threads, these we would explain as Traditional and non-traditional marketing, these connect to your anchor point which is your business. Your frame threads are your different avenues, TV, Radio, Newspaper, social media, digital advertising and many other avenues. Your radials are your different possibilities in your categories which include items like ABC, CBS, Facebook, Instagram, Journal Sentinel, google in our local Milwaukee market. Finally you have the most important element and that is the Viscid thread. The Viscid thread ties it all together and create the foundation for the success of the web. That is the part that creates the personal touch for the consumer all leading them to the Hub of the web which is your website, your location, a phone call or email.

 

Imagine you are watching TV. Then you see an ad that shows you what is possible with a certain laundry detergent. Then you look on Youtube and see a different story for the same company that shows the same story in a different way. Then you look on Facebook and see an ad for the same product telling the story of the Laundry detergent. Now imagine you are in the store trying to pick out a laundry detergent. You are most likely to relate to the story they provided and get the detergent that you saw in all those advertisements. That is Content Marketing!

 

We believe that “Your success is our Success” It is what makes us different. It is what makes us Paragon.