DIGITAL MARKETING BUDGET PLAN TEMPLATE FULL

If there are additional tools that are required for the campaign, it’s important to understand the value and purpose of the tools before committing to a budget to pay for them. These tools and additional analytics tools will have associated fees. Sometimes there are digital tools required for the campaign, for example, ad serving tools which are used to upload, manage, and serve your image creative assets to your audience. Most agencies will charge an hourly fee which is a better model for driving performance. As a result, it can be difficult to drive performance when agency fees are calculated as a percentage of media spend. The agency gets paid simply for spending the media, there is also little insight into how many hours are invested in the campaign. While some agencies will charge their fee as a percentage of media spend, this method rewards spend not performance, irrespective of how good or bad the campaign performs. It tends to be lower than media and production costs. If you are using a third party to run and manage your campaign, including, booking and buying media, managing creative assets, reporting and optimization, you will need to pay for their time - this is usually costed on an hourly fee. As a result, it essential to leave enough budget available after media costs to produce the creative assets to run on your media choices.

DIGITAL MARKETING BUDGET PLAN TEMPLATE FULL

These fees are for designer, account manager and video production time so it’s important to remember that certain media choices require creative formats to run or you can’t use them to their full potential.

These include videos, social media images, advertising banners, website image assets, email formats and other creative outputs to use on your media and website. Depending on the type of media chosen, you will need to produce specific creative assets. Production costs will be the second largest expense after media when budgeting for a digital marketing campaign.

It’s possible to move media budget from one channel to another if you are seeing good performance when the campaign is live. On the other hand, if your goal is interest or consideration you will put more budget into display or social media.Īs every digital marketing strategy will be different, there is no one size fits all rule for budget allocation and you should try to balance channel and conversion costs from historical data against your overall goal to distribute the budget across your different channels. If your goal is sales, you will put more budget into PPC than the other channels in your plan, as PPC is a conversion-driving channel. You should look at the overall goal of your strategy and prioritize the budgets towards the channels that deliver on your goals. In order to budget and forecast you can use historical performance or estimates from the channels or media platform. This will usually be the largest budget consideration of any digital marketing plan. Additionally, staff costs, training and processes can be included as part of the overall budget though this isn’t always the case. You need to come up with a plan of how you're going to implement the budget, how much each function is going to require, because if you have a meticulously planned budget, providing all the necessary detail, it's very difficult to say no.Įssentially, budgets comprise media costs, creative production, agency fees, and digital tools and technology for the purpose of delivering on a campaign or strategy. Therefore, you have to create a budget plan. Now, the problem with budgets is that you need to plan for how much money you're willing to invest over a given time. The next thing we're going to talk about, and it's the point of frustration for a lot of digital marketers, is the budget.

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Digital marketing budget plan template