Planning your internet marketing budget is not an easy task, especially if you are unfamiliar with the online marketing world. It doesn’t follow the same rules as traditional marketing and you cannot approach your customers the same way as we did 20 years ago. This is why the Twelve12 team wants to share with you some valuable information about the digital marketing approach in Orange County.
We can probably agree that most business owners are looking for better, cheaper and faster ways of selling products or services and making money; sure, you can always try to engage in discount fever and end up working hard for very little money in return. Let me tell you this, you don’t have to engage in this activity, mainly for two reasons. If you keep a permanent discount campaign, it will stop being relevant for your customers eventually, and you can end up losing money in the process if your competitors decide to use this against you and they have a relatively bigger amount of budget at their disposal. You will not only lose clients, but also your profit margin of the few sales that you may have will be smaller than usual.
What you should do is plan your strategies carefully and learn how to navigate the challenges of digital marketing. Today I want to introduce you to a few terms that you may or may not have heard before: data-driven marketing and media mix modeling. Both terms are related to understanding some aspects of your customers’ buying behavior, but they don’t provide the same information. This is important because, if you don’t have a huge marketing budget, you have to make every cent that you apply to your marketing efforts count.
Data-driven marketing collects and analyses several types of data collected from your customers through their interactions with your advertising and your websites. It is very precise in terms of the information that it collects, as long as you select the proper data for your particular case, and it can be extremely helpful to design better and more focused marketing campaigns that aim at a specific objective.
Media mix modeling is not as specialized as big data analysis; however, it provides a better insight into the way your customers interact with you in terms of qualitative information. I would say that neither is more important than the other, but they look at different aspects that you should always take into account when formulating a marketing strategy.
If you want to know more about how the Twelve12 digital marketing team in Orange County can help you analyze your information and give you effective strategies within your marketing budget, give us a call today and we’ll be happy to assist you.