July 31, 2018

Where to Invest Your Marketing Budget for 2023

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Michael Jenkins
Michael Jenkins

CEO - Shout Agency
[email protected]

Overview

It seems that the year not even halfway over, and we need to talk about how to market your business for the next one. Well, the good news now is you have a full blueprint.

In today’s fast-paced digital landscape, effective marketing strategies are the key to driving business growth and staying ahead of the competition. As the calendar turns to 2023, marketers are faced with a plethora of choices when it comes to allocating their budgets. In this blog post, we will explore the top areas where you should invest your marketing budget for the year ahead, helping you unlock new growth opportunities and maximise your return on investment.

The marketing landscape is constantly evolving, and traditional approaches alone are no longer sufficient to capture the attention of your target audience. With the rapid advancement of technology and changing consumer behaviours, marketers need to embrace innovative tactics to engage with their customers effectively. This requires a strategic allocation of your marketing budget to leverage the latest trends and tools that are driving success in the digital era.

With the rise of mobile usage, optimising your marketing budget for mobile marketing initiatives is crucial. From responsive web design to mobile applications, ensuring seamless user experiences across various mobile devices can enhance customer engagement and conversion rates.

In the following sections of this blog post, we will delve deeper into each of these areas, providing valuable insights and actionable tips to guide your marketing budget decisions for 2023. By investing strategically in digital advertising, content marketing, SEO, and mobile marketing, you will position your business for growth, foster meaningful connections with your audience, and drive tangible results in the competitive landscape of the coming year.

This article addresses your marketing budget for the upcoming financial year. As technologies and strategies continue to evolve, it is essential to understand the best you can use for your business.

So, join us as we explore the top marketing investment opportunities for 2023 and embark on a journey to unlock your brand’s true potential in the ever-evolving digital world.

Five marketing strategies

1. Review data

As marketing automation moves forward, it is imperative to have as many data points as possible for your business. The companies with the most marketing data and information will win. Therefore, be fanatical about data over the course of the next few years.

First and foremost, use analytical tools and marketing automation software to help you collect this information.

You can now track your customers’ journeys from the first contact to the point where they become raving fans through different software.

For example, if a customer starts on Facebook, you can then connect with them on your Fan page. Utilize Facebook insights to understand what they want and discover the best ways to move fans to become prospective customers.

Then, when they visit your website, you can track them with analytics to understand their behaviors and the actions they take.

Furthermore, use marketing automation software like HubSpot and Marketo to collect personalized data. That way, when customers are ready to buy, you have the data prepared to motivate them.

HubSpot Dashboard

2. Identify goals

Once you understand the data, you have a chance to review what your ideal customers do on a regular basis, so you can begin to identify your goals.

Start by answering these questions.

  • How many new clients do you want?
  • What is your revenue goal?
  • How much money do you make per customer?
  • How many prospects do you need to get one customer?

The more questions you can answer, the more you will identify your marketing goals.

3. Mobile video

In 2015, the Washington Post estimated that users should consume 80% of all content on the Internet through video by 2020.

Because over 60% of all Internet connection now takes place through smartphones, tablets, and other portable devices, it only makes sense to be prepared for a mobile video world. How do you use mobile video SEO to help your customer move forward? How do you use them to enhance their experience?

As the competition in the digital marketing and SEO Agency landscape continues to increase, it is vital to connect with targeted prospects who enjoy and appreciate the information you have to share.

You have to focus on doing this through video as well as blogging and other traditional digital marketing strategies.

YouTube Mobile Video

4. Voice search

In previous articles, we discussed the growing importance of voice search. In 2023, voice search will continue to increase.

Already, Amazon Alexa and Google Home play a prominent role in how people interact with the Internet.

As you can imagine, people speak very differently than how they write. Therefore, you must start creating content that is more conversational. It all goes back to the experience.

The more you understand your audience, the more you can create content that people will search for a further voice.

5. Live communication content

According to digital marketers, chat systems like WhatsApp and Facebook Messenger now have more active users than a lot of social networks like Facebook, Instagram, Twitter, and LinkedIn.

Users are actively connecting with their network, so they can have live chats with friends and family. They expect the same type of responsiveness from vendors.

Therefore, it is critical to understand how to use chat to improve the customer’s experience.

Along the same lines, you want to consider having live video as a component of your digital marketing strategy. While it can be a little scary at first, it is a great way to improve your returns.

Final thoughts

It is a bit scary to look at next year’s marketing for your business. The best way to be prepared is to start early. Therefore, you need to come up with a strategy that works for your company.

For help, if you are looking for digital marketing agency in Melbourne, Sydney or Brisbane, contact us today at Shout for a free consultation. We’re here to help get your digital marketing strategy off the ground.

Book a free 45 minute consultation today.

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      Book a free 45 minute consultation today.

        Shout logo in grey

        As Founder and Director of Shout Web Strategy, Michael Jenkins is at the forefront of digital marketing. Since it’s inception in 2009, Shout has built a strong reputation as one of Australia’s leading strategic SEO agencies, assisting online businesses to formulate, implement and track successful marketing strategies. Michael is a respected thought leader and digital strategist, specialising in online strategy, corporate SEO, Google retargeting, email and conversion rate optimisation, and online reputation management. Follow Michael on Google+, connect with him through LinkedIn or visit the Shout Web Strategy website.

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