05 Jan New Year, New Digital Marketing Plan
OK, so you get it – to grow your business and increase your customer base, you really do need a social media and public relations (PR) strategy. But before you commit to a particular direction, make sure you understand the market trends for 2015 and how you can make your PR and marketing dollars work best for you.
Here are the most important factors to consider for a robust 2015 PR and marketing plan:
Setting the budget
The marketing budget always aligns with the company’s financial goals. Setting aside a certain amount ahead will allow you to plan your activities more efficiently and proactively.
In 2014, digital marketing activities represented about 1/3 of the total marketing budget and an average of 3.1% of total company revenue. Companies that outperform their competitors plan to increase digital budget by 13.6% this year. While your marketing budget is unique to your firm and industry, this rate can serve you as a benchmark.
Trends to include
Sure, include items that you were missing last year, but it is essential to include items that will improve your profit and help you move your business forward.
One of the biggest trends for 2015? Investing in the ability to see the results of your online marketing efforts.
Allocating some of your budget for data analytics allows you to track your customers’ behavior and interaction with your brand. It also provides insight into the effectiveness of your marketing plan and whether you need to make adjustments.
With the growth of the mobile market – almost 1/3 of all web traffic –video marketing will become another powerful trend to pay attention to in 2015. It means that more companies will use website and social media videos, which increase conversion rates by 20% or more. Also, high-quality short interactive videos help humanize your brand and create a personal connection with your customer. The end-result is life-long loyalty and brand affinity that sustains your customer retention and word-of-mouth marketing.
Managing your PR and marketing
Very few businesses can afford to maintain an in-house team with broad PR and digital skillsets AND be able to assign funds for spending and planning. The pros recommend you allocate at least 10 – 15% of your marketing budget for planning and strategizing, and set aside a fixed amount for paid media: PPC, Google advertising and sponsored social media. Most businesses outsource part or all of their Public Relations and marketing activities to gain access to a diversely skilled team – increasing the return on their investment. Why have one person battle when you can have an entire team batting for you?
What will your PR and marketing plan focus on in 2015?