Setting a Marketing Budget for 2017
Setting a marketing budget – what are the challenges?
As Direct Marketing Association board member Andy Russell once put it, “Information doesn’t travel at the word of mouth anymore. It travels at the speed of light.” Marketing, particularly online marketing, is moving at an incredibly fast speed. So when you are looking at setting a marketing budget for 2017, one major problem immediately presents itself. How can you start setting a marketing budget when the new technologies you could be utilising are still on the drawing board?
How Marketing Budgets are changing
eConsultancy.com conducted research into the annual marketing spend of their clients. For five consecutive years, agencies were asked to comment on how their marketing budgets have changed. The conclusion was that, since 2011, marketing budgets remained consistent or increased compared to the previous year for at least 85% of respondents. There is no evidence to suggest that this trend is going to change.
There is one main consideration you will have to make when setting a marketing budget in 2017, according to this research.
More money is being spent on digital over traditional marketing
This chart from cmosurvey.org shows the contrast between online and offline marketing. Investment in traditional advertising is in consistent decline. By complete contrast, investment in digital marketing campaigns have grown. This is a clear indication that businesses are shifting their marketing spend. What used to be spent on radio, television, and newspaper is now being spent on search, email, and social. This trend is expected to continue for the next several years.
Marketing spend – what works offline?
Direct Mail – that old stalwart! You may have thought that email marketing had done for direct mail – but you’d be wrong. There’s still a place for effective printed mailers and flyers that can be sent in the post.
The secret, according to the website businessknowhow.com, when it comes to offline marketing, is “… to purchase qualified leads. In other words, if you sell products geared to an older age group, sending your mailer to the 20-something demographic isn’t the best use of your money. Just like you would with email marketing, get super targeted with your list and you’ll be happy with the ROI.”
Writing effective copy and ensuring your direct mail leaflet has a strong call to action, as well as an eye catching design, will deliver leads that might well repay your print marketing investment many times over.
Come and speak to the experts
Here at Technique Print, we understand that your brand is all important. When you start setting a marketing budget for 2017, come and speak to us for great value design and print work. Contact us here for more information, or why not get started with a no obligation quote?