Marketing budget refers to the most appropriate budget required to implement various marketing strategies and policies, as well as budget allocation among various marketing links and various marketing methods.
One of the biggest trends in content marketing is that it’s all but taken over marketing departments. Content has become core to everything your marketing team does, so you absolutely have to budget for it. If you haven’t already, create a content marketing plan. And if you have created a strategy, take some time to revisit it, make sure it aligns with the direction you’re wanting to go in 2019, and determine that you have the resources you need.
According to recent research, 73 percent of marketers say they use their website analytics to research their audience, but only 42 percent say they use actual audience conversations. That’s a missed opportunity for better relationships and better messaging, and if marketers want to close that gap, they might want to look into chatbots.
Not only do chatbots give you insight into exactly what your audience members are looking for and when, but they also make it easy to deliver that information to them – all while collecting those insights to refine your messaging in the future. It’s a win-win,and that’s why it should be on your radar in 2019.
Online security and the protection of personal information are growing demands for all consumers, and marketing leaders must accommodate this development. The 2018 rollout of the General Data Protection Regulation in the EU was a big step in that direction. As audience trust in media declines and concern over privacy grows, marketers will need to put the processes in place to responsibly collect, store, and protect their audience members’ information to maintain the trust they’ve worked so hard to earn.
To be honest, there’s no good reason in this day and age for anyone to receive generic messages and completely irrelevant offers in his or her inbox (or anywhere, for that matter). With the endless amount of data you have available, the technology that can analyze it and help you put it to use, and the tools available to scale that information across interactions, your audience members should feel special all the time. They’re already bombarded with more content than they can handle, and you don’t want to just add to the noise. Technology doesn’t have to make you more impersonal. It can make marketers better communicators. Use it to (securely) collect relevant data, and turn those data points into insights that can guide your messaging. The more advanced these tools get, the higher your audience’s expectations for genuine, helpful, personalized content will be.
For most companies, the biggest expense in marketing is advertising, and the biggest expense for advertising is media spending. Especially for fast-moving consumer goods, such as daily chemical, beverage and other brands, media costs account for 80-90% of their marketing budget, and some companies even up to 95%.