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Marketing spending planning mistakes in 2021

In 2020, many companies have had to restructure their business and marketing. This was especially true for those who were forced by the pandemic to go online. Under these conditions, annual budget planning failed. In 2021, we can expect that the situation will gradually normalize, so now it is important to correctly plan the costs of business development. Marketing expenses are one of the key planning points, because it is he who is the basis of sales, helps to keep in touch with the audience and constantly fosters interest in the product from the buyers. In this article, we will break down the main mistakes when planning your marketing expenses. And if you are just planning to open a business on the Internet, then create a website in 5 minutes using the 1C-UMI platform.

2020 doesn’t suit us

You should not be guided by the goals of the past year, especially those that were set at the beginning. Analyze your market segment and develop marketing goals for six months. Very often the goals set at the beginning of the year lose their relevance after the milestone of 6 months, so it is better to split your marketing planning into 2 periods. Analyze every month and focus on the strongest marketing decisions.

Make decisions without analytics

Using old data, drawing conclusions without analysis, and generally spitting on analytics is a direct road to holes in the budget. Invest in analytics tools and people who know how to use them. Objective analytical data allows you to accurately predict the likely demand for a product or service, anticipate the needs of buyers, and identify modern channels for attracting an audience.

Invest money in non-working processes

This point is closely related to the previous one. It is impossible to track which processes are profitable and which ones are unprofitable, without taking into account the corresponding indicators – ROI, KPI, CAC, and so on. Only the correct calculation of this data gives an adequate idea of ​​the success of the business.

Do not follow the life of the target audience

The priorities and needs of the target audience are constantly changing; in order to make effective marketing decisions, you need to be aware of these changes. How to do it? First of all, to maintain feedback, respond to reviews, come up with creative ways to communicate with the client, conduct surveys and questionnaires for bonuses.

The main task is new clients

Attracting new customers is an important and necessary thing, but in the pursuit of new customers, companies often forget to work with an already formed audience and, as a result, lose it. The right strategy is to work on building brand loyalty. Existing buyers should feel that the company is grateful for their loyalty and is ready to pamper them with gifts, bonuses and other pleasant incentives.

No personalization

An ad that is broadcast to everyone at once usually does not hit anyone. Therefore, it is recommended to create advertisements for specific audience segments, taking into account its characteristics and needs.

Moris Akline
About author

Speculative operations in the foreign exchange and stock market. Work with futures and indices on CME. Work on FORTS and RTS. Development of portfolios and investment strategies for clients. Knowledge of technical (price charts of various types, indicators and oscillators, trends, channels, support / resistance levels) and fundamental analysis, take note of news. I work according to my trading strategy in compliance with the rules of capital management and risk management. Development of trust management strategies. Technique of order execution, placing and changing protective stop-losses, hedging.
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