With a myriad of ways to reach a wide audience online, marketers are commonly overtaken by chaos in employing different online marketing tools. The problem is always on what to prioritise, where to put the bulk of resources for better ROI, and promote positive brand reputation.
To this end, MarketingLand proposed a marketing formula in order to help businesses prioritise workflow and budget. This is known as the 70-20-10 model: allocate 70% of resources to Google and Bing platform(s) that are sure to work well in advertising and have impressive reputation of providing good results. Allocate 20% of resources to "safe-bets" like Facebook as it is believed by leading marketers that social media interactions have the most important role in transforming audiences to customers, and customers to repeat buyers. Lastly, the 10% should be allocated to emerging platforms that may rise as a future trend-setter.
In this strategy, marketers are sure to be in a win-win situation: a decline in one can be counterbalanced with the other. And marketing strategy is sure to be prepared for future marketing trends, as emerging platforms are invested on.
Above all these, Web presence should still remain paramount to any digital marketing strategy. Marcel de Vivio, CMO of Brilliance.com said:
"All your efforts are futile if you don’t have a thoughtfully designed website that’s built for user experience, speed, compatibility with multiple devices and, perhaps most importantly, easy to update without being an IT expert."
Clean-up your clutter by investing efforts and resources to Tried and Tested platforms (70%); safe bets (20%) and to speculative ones (10%).
Never overlook your website and make sure to make it more user-friendly, relevant and updated.
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