The oh so controversial marketing budget. At most times, it seems like it’s never enough, and for others in your business, they may be asking, “What are we spending this money on?” Let’s talk through some terrible ways you can spend your marketing budget.
Launching Campaigns with No Goals
Spending a marketing budget without set goals is like driving a car aimlessly and burning gas. What is the goal of this marketing plan? What are we trying to achieve? Is this something that we can measure?
Building campaigns with no idea of pricing.
It’s important to know the breakdown of costs when creating assets, and doing media buys. Do you have enough budget to even run effective tests on the channels you want to be testing on?
Running campaigns on irrelevant channels.
Where does your target demographic hangout? Which channels are they living on day-to-day? Don’t be on channels where your audience doesn’t exist. It’s a waste of money!
You are running potential leads and customers through unoptimized flows.
You are running strong campaigns on all of the right channels and getting great results, but you’ve made a mistake! Your email flows and retargeting ads are not optimized or unplanned! Don’t spend your marketing budget on earning an audience’s trust and then not nurture the flow!
Sending traffic to an unoptimized website.
Again, you are running effective campaigns and getting traffic, but your site is unoptimized and not planned out to move traffic through. Make sure to “walk the path” your customer is going to take and see what potential questions, and issues they may have with your site.
