Where to spend your digital marketing budget in 2017?
Do you or your company quarrel with the dilemma of where to spend all the marketing money? The million dollar question that haunts every digital marketer is that how much should you spend on marketing media to generate the bestROIfor your marketing budget or which digital channels would yield the best returns for my marketing budget? Read on to figure out answers to these questions and be more prepared to ring in the new year with success!
A recent report from Forrester Research estimated the amount and areas where you should be spending your budget to achieve optimum results. Companies are estimated to allocate about 30% of their marketing budget to digital in 2017 which is again judged to increase to 35% in 2018. A few fields that will attract all the focus are as mentioned below-
- Search Engine Marketing: This paid medium is said to utilize the largest chunk of your digital marketing budget as returns from this are expected to be the highest and most rewarding.
- Digital Display: Online display comes next in the race of online marketing spends. This includes banner ads, online video etc.
- Social media: This medium will only represent about 15% of the total digital spend, however, it is expected to increase.
- Mobile marketing: It is assumed to be spread across all channels and therefore is no longer tracked separately.
- Search and other offline tactics follow the above mentioned digital areas in attaining a spot in the marketing budget allocation.
An eMarketer report in August 2016 reported attempted to project social media penetration by social platform through 2020. According to the report, Facebook still remains the King of social media and Instagram is estimated to be the queen.
In the same report from eMarketer, 75% of respondents are expected to raise their Google Adwordsinvestments in the next year. Facebook as well is estimated to see increased investments by 69% of respondents.
Instagram and Twitter, by comparison, are expected to see increased investments from less than half of respondents (41% and 21% respectively). Snapchat, which only recently launched its own ad platform, was at the bottom of the list, with only 15% of respondents expecting to increase investments into 2017.
Excerpts from this report are shown in the below image that speaks for itself.
So, what are you waiting for? Start planning your marketing budget for 2017 and stay ahead in the race to the top. Hope we’ve been able to give you a better idea of how things would look like in the digital world in 2017.
If you think we may have missed something that’s caught your attention, then make sure you add the same in the comments below. We’d be happy to add another dimension to this discussion.