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Who you should be marketing to online depends on the customer profile, aka buyer persona, that you create based on market research, search data and website performance data. It also depends on the digital marketing channel and budget – because sometimes casting a wide net is too expensive or overwhelming to your sales team.

Your buyer persona should answer why and how your audience decides to do business with you, what’s important to them, and what’s stopped them from working with you in the past.

Your primary persona is not the person you want to buy from you in a perfect world; it’s someone who shows signs of being interested in your offering and qualified to purchase.

The 2022 CMO Survey found that publicly traded companies spend about 57% of their total marketing budget on digital marketing. But what about your company?

If you’ve been focusing on digital marketing for a while, you may know your usual return on ad spend (ROAS), potential customer lifetime value, and other ROI information. Use this data to assess cost versus benefit and build your budget – because there’s no “magic percentage” of revenue to use.

Here’s how to calculate a digital marketing budget: The Digital Marketing Budget Breakdown

If you don’t have that historic data to work with, set a maximum budget you’re comfortable with and watch performance closely to adjust as needed.

When deciding how to allocate a budget for digital marketing versus traditional, think about your audience. Where are they consuming media the most? What ad mediums have performed well in the past? Try some new things out, test and revise.

In general, TikTok and Instagram and more likely to reach Gen-Z and Millennials. Facebook is good if you’re looking to reach stay-at-home moms and people between 28 and 55. If you’re looking to address a more professional audience, LinkedIn is where you want to focus your efforts.

If you don’t have the internal resources to manage a lot of social media activity, it’s better to use one or two platforms well than it is to use four poorly.

Social media marketing is also not meant to be a place to promote your products and services. You want to focus on building trust and becoming a valuable resource. This way, when your potential customer is ready to purchase whatever product or service you sell, you’ll be top of mind

Speaking of KPIs, does it seem like everyone defines “conversion” differently?

Some companies (or single departments within) may differentiate between a website conversion – like a contact form completion – and a sales conversion, which is a successful sale that occurs after a website conversion.

In our agency’s experience, companies commonly call sales-oriented website actions conversions, and they call sales, sales. However, if you want to talk about it, make sure your internal team and vendors are on the same page.