As marketing becomes more and more important, the requirements in this field are also increasing. Yet, Gartner has announced that the marketing budget for 2021 is down from previous years. In fact, it now represents only 6.4% of the companies’ turnover (CA) at the global level.
This year 2022, Julien Rio, RingCentral’s International Marketing AVP, has given suggestions for optimizing your marketing budget. Of course, his advice is not universal as each industry and market has its own needs. In any case, they help you make the most of the financial resources reserved for marketing. This year, here is the expert’s « recipe » for marketers.
Lead generation and events are essential
According to Julien Rio, lead generation should take up about 40% of your marketing budget this year. This is because the basis of marketing is the production of mature Sales Qualified Leads (SQL).
In this regard, you will optimize your sales prospecting by saving time and money by investing in a marketing automation platform such as Magileads.
Note that events are also important and can represent up to 15% of your budget. The real problem, however, is that participating in it is more risky since the Covid-19 pandemic. Cancellation and lack of visitors are the reasons. Yet, not taking part in any of these occasions also means that you are cutting yourself off from the world. Therefore, the solution would be to contribute to a minimum of key events to limit your losses.
A good marketing strategy does not neglect the image
Having a good brand image helps you improve customer confidence and attract prospects. Julien suggests allocating 10% of your budget to promoting your brand on different platforms. Indeed, companies should not neglect e-reputation on social networks, including targeted online advertising.
On the other hand, creating quality content with good SEO could represent 5% of your budget. This part is particularly important, as it will be used in the long term. In addition, the quality of the content of your site will allow you to reinforce the confidence of the customers in you. This is a detail that young companies tend to overlook, however, because results take time.
Paying attention to your surroundings
A good entourage and good relations with your environment are also necessary. You will need to set aside 5% of your budget to join various clubs and associations. These will allow you to share best practices and meet potential clients. In this case, it would be best to choose the clubs that your team is interested in and that fit your company’s values.
Optimize team efficiency with tools
Tools are also an important factor for the effectiveness of a marketing strategy. marketing strategy. Julien Rio advises you to allocate 5% of your marketing budget to this area in order to spread it out. The goal is torelieve the teams of low value-added tasks. However, never lose sight of competitiveness.
In addition, you should keep a margin for emergencies. For example, 5% of your marketing budget can be used to straighten out one of your sections on a bad day.
Meta title: Marketing budget: a way to optimize it for this year 2022
Meta description: The marketing budget has decreased overall. However, you should not neglect it. Here are some practical tips to optimize it in 2022.