Did you know?
- Mobile marketing spending is projected to increase by 160 percent over the next 3 years.
- Companies project a 10% increase in digital marketing spending during the next 12 months.
- Social Media spending is expected to rise by nearly 100% in the next five years. Most social media investments throughout the next 12 months will be in content creation.
*Source: Marc Emmer (President of Optimize Inc)
Why is this important to you?
Knowing where money will be spent will better help you in planning your sales & marketing budget for the year. Granted, no one knows exact numbers for where consumers & businesses will spend money, but research is key! It’s very similar to subjects in school…in order to understand each subject, a student must research & spend time learning the subject. Same for knowing & understanding both your existing market, your projected market & how both coincide with how consumers &/or businesses are spending money.
We are in the day & age of technology…mobile technology at that! In order to get the most out of your budget funds, research how your business is reaching those on mobile phones, tablets, social media, etc. Marketing only to those on desktops may cause your business to miss out on many consumers that may be interested in the product &/or service you offer, but use their phone only to make buying decisions.
Questions to keep in mind as you build your budget for the year:
- How is our existing budget performing?
- How does our sales/marketing strategy align with our business goals?
- How well are we tapping into mobile marketing & social media?
- How much should our sales & marketing budget be?
- Where/How should this money be dispersed?
Reach consumers where they are.
More & more people are using their mobile devices much more daily! At least consider moving a portion of your marketing dollars to reaching people where they spend most of their time. Call The Mullikin Agency to discuss a customized, on-line plan for your business! It just makes sense to place your product/service in front of them so to get your part of the pie!