It isn’t easy to create a digital budget. It can be difficult to predict how much you will spend on different campaigns or what percentage of your budget you will need, especially if you don’t have any historical data. Even if you have been managing your budget for some time, there are always new tools and platforms to consider.
Neglecting to pay a necessary expense is one of the biggest mistakes. There are many ways to spend your budget. However, some digital marketing costs can significantly impact your results.
These are seven digital marketing line items that you shouldn’t overlook.
7 Digital Marketing Costs You Haven’t Considered
Digital Marketing Expertise
You will need professionals to execute your plan if you are responsible for any part of your digital marketing. These professionals include writers, editors and designers, and videographers and developers who can bring your paid and owned content to live. To keep your campaigns on track, you’ll need someone to interpret and review performance data and a project manager.
Some small businesses have split the above roles to keep costs down. This can be a good idea in an emergency, but it will limit your chances of success. It’s better to hire a digital marketing agency or freelance this work.
No matter which route you take, it is important to determine the costs involved and their budget.
Digital marketing can measure nearly everything, a major advantage over traditional marketing. If you know what you want to measure, you can get a lot of information about ad clicks, and email opens, blog bounce rates, asset downloads, video views, and user tracking.
Digital marketing generates so much data it can be not easy to collect, visualize, translate and apply the information. Analytics software can help you track campaigns and forecast results to make better data-driven decisions. It also makes it easy to communicate your performance to internal stakeholders.
Project Management Solution
Even the most skilled and professional people can be difficult to manage. Even if you have a project manager who is experienced in setting milestones, creating timelines and gathering progress updates, they will not be able to get much without the right software.
Project management software helps teams stay on track. It also automates all the administrative tasks that can cause delays and make things go off-track. To reduce the chance of people forgetting something, you need a platform that lets everyone know what is expected of them. It will help to eliminate silos and promote better collaboration.
Software for Marketing Automation
Marketing automation refers to any software that manages routine marketing efforts and can handle multiple workflows simultaneously. HubSpot is a marketing automation platform that allows you to manage your website, paid advertising, social media, and email from one place.
These tools make it easy to create, schedule, and manage an email campaign, social posts, or blog article, from one platform, rather than switching between multiple tools. You’ll better understand your marketing efforts because everything can be done through one solution or integrated with it.
Design and Video Editing Software
Design software is another cost that is often overlooked in digital marketing. Your designers will require adobe Creative Cloud. A subscription to a top-quality video editing program will also be necessary for your videographer. These tools will not allow them to create the visual content they need to support your digital marketing efforts.
Remember that you only get what you pay when it comes to video editing and design or any other software. Even the most talented and creative designers will have problems if they invest in the cheapest option.
Website Hosting and Security
Your website is an essential part of your business. The goal of most marketing campaigns is to drive potential buyers to your website so that you can guide them on the buyer journey. Your digital marketing efforts can be halted if your website goes down.
This is why it’s important to choose a trusted website host and invest in website security, including an SSL certificate.
There are many web hosting companies that you can choose from, such as Bluehost, HubSpot CMS Hub and GoDaddy.
Hosting services often include security features that ensure your information is protected and is less susceptible to being hacked. Although there is no 100% secure way to protect your website from cybercriminals, it is important to take all possible steps to minimize the chance of sensitive information being exposed, such as customer data.
Since March 2020, we have all experienced many webinars and learned that the quality of the platform could make a huge difference in audience engagement. We also discovered that the videoconferencing tools used internally are not always suitable for large-scale events.
The increase in webinar demand has created more competition and allowed for better innovation. There are many options for webinar solutions today at different price points. This is a digital marketing expense that should not be overlooked, considering the time and effort of organizing online events.