When to Save and When to Spend on Your Marketing Campaigns

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Part of creating an effective marketing campaign is knowing when to spend money, when not to and sometimes when to stop. A bad campaign that is draped on longer than necessary can critically hurt a business’ standpoint with their audience. Here are some criteria to help you determine when you should spend money and when you should hold back.
When to spend Marketing

Addressing the Audience

In order to determine how much money you should spend on marketing campaign, you must first take into account whether your chosen demographic responds to advertisements. In some cases, the only way to reach a certain demographic is true social circles and viral content. This is especially true as more people than ever learn how to tune out ads no matter how high the production value is.
 

Assessing the Competition

How much money is your competition spending on its marketing campaigns? Are those dollars being spent in an effective manner? There are plenty of ways to determine the marketing spend of your competitors and the effectiveness of those campaigns. You can learn from their mistakes by juxtaposing their marketing spend with their web traffic through sites like Alexa.
 

Calculating Your Budget

Before you begin to spend money on marketing, you should take a detailed assessment of the budget that you have to spend. The most effective marketing is consistent marketing. If you blow all of your money on a fly-by-night advertising campaign, you will likely not get the results that you want. Slow and steady wins the race – if you do not have enough money coming into maintain a certain level of advertising, then you should probably scale back.
 

Expanding Your Connections

Public relations is the new search engine optimization in today’s business landscape. With ads becoming less effective in certain demographics, the best marketers are looking to cultivate relationships with pathfinder for their industries. Bloggers and critics now hold a great deal of power when it comes to swaying public opinion. If your product is in the good graces of an influential blogger, you may not have to spend as much money on an advertising campaign.
Creating relationships with bloggers is a matter of time, not money. Influential bloggers want to know that you have something that will be of interest to their audience and often cannot be swayed with flashy lights as they pride themselves above corruption.
 
In order to determine whether you should spend money on a marketing campaign, you should take an assessment of all of the criteria above. It might be wise to talk to professionals, like those at TCA Partners, as they have more experience than you do in these matters. Assessing your competition, audience, budget and especially your connections will give you a great touchstone of how much you should spend on a marketing campaign.

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