Your business marketing mix for 2017 should be prominent on your mind as we head into the final months of the year. Between various in-bound channels, social display, search engine marketing, traditional advertising, experiential and more, it almost seems you could blow through a spreadsheet without even trying. However, here are a few considerations as you categorize your budget.
2017 Marketing Mix
Your 2017 marketing mix will be unique to your business, what you know about your existing audience and customer growth research. However, reviewing general marketing trends offers you a consideration base – especially if your business is young or you’re contemplating a new medium.
According to a Forrester Research study focused on 2017 spending, most brands predict allocating 29 percent of an overall marketing budget to inbound efforts. Industry experts characterize inbound marketing efforts as those that pull consumers toward your brand with content. This includes spending on blogs, podcasts, educational videos distributed either offline or through social channels, newsletters and SEO definition and refinement.
Approximately 47 percent of this inbound budget (or 14 percent of total marketing spent) typically focuses on SEO and paid SEM. Digital display ads typically come in around 10 percent of the overall budget. However, don’t limit your display ad thinking to online display ads, such as banners. These can also include promoted social media posts, social media video and pre-roll advertising.
The marketing mix budgeting tool you need most may be the closest at hand. Make certain you review the trends of all your 2016 marketing, then talk to the experts at JOHO Marketing. We can customize suggestions to increase your marketing ROI in the coming year and beyond. Next year, spend less time “throwing spaghetti at the wall” and develop a true, thoughtful digital marketing plan proven to stick.