If you’re involved in digital marketing, there’s a good chance you have already encountered a situation in which you feel as though you must justify the value of digital marketing while vying for an increase in your budget. Unfortunately, the number of likes or shares you receive on social media or the number of banner ad clicks you received last quarter may not be enough to win the additional budget you need to create more content or hire a quality agency to aid your internal marketing efforts. The bottom line is that the CEO and other management are usually only concerned with just that — the bottom line. In order to garner that bump in your annual budget, you need to put it in terms that management understand, and that means more than just clicks, shares, and views. You need to learn how to present it in terms of sales, revenue, and more customers.
Put It in a Language Management Understands
First, you need to learn how to speak the same language as management. Rather than presenting the benefits of digital marketing in marketing language, you need to present those advantages in lingo that will resonate with your target audience, in this case the CEO and other management. For instance, instead of stating how many social shares a blog post received, put it in terms of the number of people exposed to your brand from that blog post.
Educate Management about the Value of Digital Marketing
Second, remember that while you may be continually dialed into digital marketing, that usually is not the case with management. Therefore, it is your responsibility to let your management team know what is taking place in the industry. The best way to get the attention of management is to show what the competition is doing in terms of digital marketing. This is often one of the most effective methods for demonstrating the value of digital marketing to management. Ultimately, it is not always about what the company could stand to gain. Sometimes, it is about what it could stand to lose, and that often means demonstrating to your CEO what the competition is doing and what the company could lose if similar digital marketing tactics are not applied.
Create a Plan for a Solid Digital Marketing Investment
Finally, take the time to show your management team exactly how the increased budget will be spent rather than simply asking for a blank check. Prepare a breakdown of how the additional funds will be spent and the projected return to demonstrate that you intend to make a sound investment.
Staying ahead of the game is vital for success in digital marketing. Of course, as is the case with anything else in business, you need to have the budget to do that. Applying these techniques can be a great way to land the increase you need for your digital marketing budget in order to stay ahead of the curve.