Planning Your Marketing Strategy For 2020
No one marketing strategy for 2020 will fit all business models. There are, however, core marketing elements, when applied correctly to your short- and long-term goals, that will help you expand your brand reach, increase your conversions, and grow your revenue.
How Much To Spend On Marketing Budget
The first step to create an effective marketing plan for 2020 is committing to a budget. The US Small Business Administration suggests 7 to 8 percent of your gross revenue should go toward your marketing budget, but research shows small businesses generally allocate closer to 7 to 12 percent of their total revenue to marketing.
No matter where you fall on the marketing budget spectrum, creating a strategic plan to promote your brand and build a loyal customer base is key to your success. As you step into a New Year, consider these 2020 marketing tips.
Year In Review
It’s tempting to take out last year’s marketing plan and replicate that strategy. This approach can make for a good starting point, but it should just be the first step in creating your new plan. Relying on the same marketing tactics year after year means you’ll eventually reach a point where your plan used to work but now has a number of outdated options.
Review the results of the past year’s marketing plan. Which performance metrics stand out to you? Take a closer look at campaigns or marketing platforms that offered exceptional results. Consider how you can optimize the successful pieces of last year’s plan to improve your performance moving forward.
Set New Goals
What do you hope to achieve with your marketing plan in 2020? Is your priority on growing your email marketing contacts, partnering with an industry influencer, or incorporating video into your marketing emails and other platforms? Your goals should be specific and measurable.
Consider New Ideas
Research your industry for new marketing channels to try. Are there any new social media platforms or industry-specific tools that offer marketing space that fits your goals? Don’t be afraid to branch out to marketing concepts you haven’t tried. Research the platform to see what other users have to say and test the outlet with a small portion of your budget. Digital ad spend worldwide is predicted to reach $435.83 billion in 2020. Don’t be left behind because you’re unwilling to branch out to new methods.
Prioritize Marketing Efforts
Decide which marketing campaigns will serve as the cornerstone of your year. Next, support and compliment those larger initiatives with smaller tasks throughout the year. Depending on your niche, your concentration will vary. Below is a brief rundown of what’s expected for marketing in 2020 when it comes to the core components:
- Social Media: Instagram, SnapChat and TikTok will continue to grow their ad platforms. As consumers explore new ways to consume video, these outlets will grow their audiences.
- Email Marketing: Responsive HTML will continue to be the best presentation of email marketing. Content will concentrate on FOMO (fear of missing out) and even greater personalization as we gather more detailed data on customers. Nearly three-fourths (72%) of consumers say they’ll only engage with a personalized marketing message.
- Video Marketing: Video consumption continues to grow, with 72 percent of customers saying they prefer to learn about a product or service through a video. By 2022, all consumer internet traffic will come from online videos. Part of your 2020 marketing strategy should include the use of video on all platforms. Include video in your email marketing, social media channels, and website.
- Voice Search: Crafting your content with voice search in mind will become crucial. The top 3 common keywords in voice search phrases are “how”, “what” and “best”. It’s predicted that by 2020, half of all searches across the internet will be voice-based. Tailoring your content to meet the demands of a verbal search will elevate your website with major search engines.
Write Your Plan
Write out your 2020 marketing strategy after you’ve decided on a budget, explored new platforms, set measurable goals, and incorporated the core components of digital marketing. You want your written plan to be specific while still leaving room to adapt to an every-changing marketing world. Plan to evaluate your 2020 marketing plan at least once per quarter. Evaluate what is working well and don’t be afraid to make changes when needed.
Start 2020 with a specific plan to grab new customers through email marketing. The use of video and responsive HTML design creates a personalized approach to one of marketing’s most effective tools. AdMail.net can help you achieve your responsive email design goals. Schedule a product demonstration now.