Where Should You Spend Your Marketing Budget in 2020
2020 did not start as planned, but there is always the opportunity to adapt to changes. Lockdown temporarily turned the course of our lives and consumer habits upside down, but fortunately, some marketing trends are still strong. Yes, brands will have to change their strategies on the go, however, there are several reliable marketing areas in which you can safely invest in 2020, despite all the uncertainty.
Influencer Marketing
In 2020, influencer marketing will not lose its relevance. On average, brands plan to invest about $10,000 in this direction this year. The reason for the demand for influencer marketing is simple – people want to buy from people, even when it comes to the b2b segment.
However, modern realities are slightly changing approaches to influencer marketing – and, for the better. Users are increasingly in need of tips from influencers, including what they should buy in a period of ambiguity. Use this moment to solve new problems of users with the help of your product or service, having enlisted the support of an influencer.
And by the way, be sure to consider the level of influence and coverage. For example, Cristiano Ronaldo has a huge reach, and a one-time collaboration with him costs $750,000. However, this does not mean at all that all its subscribers will be interested in the offer from the promo post.
It is always best to choose an influencer from your niche. Even if he or she has a relatively small number of subscribers (up to 10000), but they are active and interested, then your promotional post will have a greater level of involvement and a better response from the audience.
Video Marketing
99% of marketers plan to use video in their strategies in 2020. Video has been on the top of marketing approaches for several years in a row, so you definitely should not ignore this trend.
Moreover, modern buyers are loyal to all types of videos and want it to be part of their interaction with the brands. Therefore, choose what goal you want to achieve and determine the type of video that you need.
- Quality product y or demo videos help customers make decisions faster. By the way, in 2020 it is also necessary to have an in-video shopping function – modern users are becoming more impatient.
- Educational videos improve user loyalty.
- Cartoons or short funny videos engage and entertain users, and improve behavioral factors if they are placed on your site.
High-quality Blog Posts
Despite all the marketing trends, written content remains the King. In 2020, it would be unreasonable to abandon this direction – at least because Google’s search engines index the text content of the pages to determine what is being discussed and to match the desired page with the correct user request.
The need for high-quality written content is beyond doubt for a long time, and in 2020 the requirements will become even more serious. This is due to the fact that the amount of written content is growing exponentially, and now we are seeing a real war for quality. Be sure to think over a strategy to fill your blog, and set a budget for working with professional authors, for example, from the Best Writers Online review website.
Social Media
Modern users believe that if your business does not exist on a social network, then it does not exist at all.
In order not to waste your marketing budget, choose one, the most promising social platform and start investing in development. Most likely, it will be Facebook or Instagram. And by the way, these sites are easily connected with each other, so that you can develop on two platforms simultaneously.
You will need to invest in the following areas to promote your profile on social networks:
- quality written and visual content
- paid advertising
- interaction with influencers of which we have already spoken.
High-Quality Product Description
In 2020, pay particular attention to the descriptions of your products. This should not be like a dry feature set. A product description can perform many more functions than characterizing a product. The thing is that if the user just read the characteristics, then the probability that he will buy from you is negligible.
Most likely, he will go further – and will look for additional descriptions, photos, videos and reviews of other users. In 2020, you must answer user questions before he asks them – and the product description is a good place to do this. You already know what must be present, but that’s not all.
The product description should evoke emotions and show the ability of the product to solve the user’s problem. This is a special skill and ability, therefore, provide a budget for writing marketing descriptions as well.
Webinars
Webinars are useful but at the same time tricky things. It is always better to be prepared in advance for the fact that the attendance of your webinar will be at best half of those registered, and not have high expectations for a 100% presence.
Many companies conduct webinars, but not many webinars have real value. In fact, a webinar can also be a powerful selling tool, and for this, you need a strategy, and of course, a budget. By the way, the budget for a webinar can also be quite modest – from $100. At the same time, the payback can be several times higher, even with 50% attendance.
Instagram Stories Advertising
The advantage of advertising on Instagram Stories is that they do not cause irritation. At least for now. They look very organic, and built-in marketing functions like Swipe Up to Learn More allow the user to decide whether to skip or watch this story further.
Moreover, the main advantage of Instagram for goods and services is that this platform is visual. Even the appearance of your profile can attract attention and interest your potential subscribers.
And by the way, advertising on Instagram Stories is completely inexpensive and easily customizable. Be sure to try this feature in 2020.
Conclusion
Of course, the specifics of the business are decisive in the development of marketing strategies and areas for investment. However, in this article, we tried to list the most universal marketing approaches that will suit almost any business in 2020.
ABOUT THE AUTHOR
Mary Byrd
A freelance writer
Mary Byrd is a self-driven specialist who currently works in the company Best Writers Online and enhances her blogging skills. She is not looking for easy ways, she is always developing and looking for new ideas. Professional development is an important part of her life. Marie always improves her skills and her main goal is to inspire people.